SOURCE: Dutch Gold Resources, Inc.

Dutch Gold Resources, Inc.

November 11, 2010 09:38 ET

Dutch Gold Receives Permits to Drill Jungo Project, Mobilizes for Drilling Fourth Quarter 2010

ATLANTA, GA--(Marketwire - November 11, 2010) - Dutch Gold Resources, Inc. (PINKSHEETS: DGRI) (the "Company") (http://dutchgold.com) today announced that it has completed the permitting to begin the previously announced drilling program at its Jungo property northwest of Winnemucca, Nevada.

The Company plans to conduct its staged drilling program on the Jungo property as soon as its drilling contractor is available. The contractor for the planned drilling completed the earlier trenching, including the 2010 trenches, on the project. The initial three hole core drilling program, totaling approximately 800 meters, will be designed to test the orientation and continuity of a gold and silver-mineralized volcanic vent zone that was identified in the trenching program.

"The Company recently acquired historic drill data in the project area. The drill holes, while not testing the recently identified vent zone, encountered gold mineralization outside the area trenched by the Company," said Rauno Perttu, COO. "The historic drilling also showed that the gold mineralization continues at depth. The historic drilling supports the possibility that a stronger, higher temperature gold target may exist several hundred feet below the trenching. Our interpretation of the historic drilling information, when added to our recent trenching program, suggests that a potentially significant gold system may underlie the property. After we have completed and interpreted this first phase of new drilling, we expect to complete further exploration of this project during the first quarter of 2011."

The program is expected to take approximately 30 days to complete. "The new drill information will be integrated with the encouraging historic drill data and with our positive trench results. We are hopeful the combined data will allow us to start to outline a new gold system in this area or historic and currently operating large gold mines," said Daniel Hollis, CEO. There are currently four major mines operating in close proximity to the Jungo project.

Dutch Gold Resources, Inc. is engaged in the acquisition and development of gold reserves in North America. The company's strategy is to focus on overlooked resources that can be quickly and cost-efficiently brought into production, and to seek out potentially significant exploration targets in high value geographies. The Basin Gulch project Montana, the Jungo property outside Winnemucca, Nevada, and the Gold Big Mine in Oregon comprise the Company's current portfolio. The DGRI management team is composed of seasoned professionals with decades of experience in geology, and Mergers and Acquisitions, as well as corporate finance. 

Forward-Looking Statements
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Dutch Gold Resources, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.

Contact Information

  • For further information:
    Steve Keaveney
    Dutch Gold Resources, Inc.
    (404) 419-2440
    www.DutchGold.com