SOURCE: Dutch Gold Resources, Inc.

Dutch Gold Resources, Inc.

September 25, 2009 11:37 ET

Dutch Gold Resources Announces Completion of First Phase of Filings to Close Transaction With Aultra Gold, Inc.

ATLANTA, GA--(Marketwire - September 25, 2009) - Dutch Gold Resources, Inc. (PINKSHEETS: DGRI) today announced that it has begun the closing process to effectuate the merger with Aultra Gold, Inc.

Daniel Hollis, CEO of Dutch Gold Resources, stated, "We are pleased that Aultra Gold, Inc. has taken the first step to close the pending transaction with Dutch Gold. Yesterday Aultra filed a Form 14CPre with the Securities Exchange Commission, which was a prerequisite to the announced merger. This begins the process to finalize the transaction, allowing the combined company to move ahead with its state plan to increase shareholder value."

Added Mr. Hollis, "We expect to receive approval from the shareholders of both companies and both Boards of Directors in the next three weeks. Given the current increases in the price of gold, we believe that the timing of this transaction is optimal."

Gold prices continue to be strong, remaining at, or above $1,000/oz in recent weeks. The largest gold producer in the world recently bought in 2 million ounces of gold to close a hedge position and has announced that it would purchase another 3 million ounces in the near future. The weakening dollar and the decisions by Central Banks to begin accumulating gold, all contribute to the current pricing scenario.

"In the current economic environment, Dutch Gold believes that its strategy of acquiring potential high value resources such as those brought to us by the Aultra Gold transaction can help build the Company to scale, in politically stable areas, providing the opportunity for long term growth in shareholder value. We are pleased to have begun the closing process with Aultra Gold, Inc.," concluded Mr. Hollis.

About Dutch Gold Resources, Inc.

Dutch Gold Resources, Inc. is engaged in the production 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 Company currently owns the Gold Bug Mine and leases the Benton Mine in Southwestern Oregon. DGRI management has strong experience in mergers and acquisitions, as well as corporate finance.

About Aultra Gold, Inc.

Aultra Gold, Inc. was formed to become one of the leading exploration, development and acquisition gold companies in North America. Our objective is to focus on low-risk and proven reserves that will be economical and profitable for the shareholders of Aultra Gold. Its current assets include Basin Gulch and Jungo, and management includes professional geologists and production experience.

Forward-Looking Statements

Certain statements in this release, and other written or oral statements made by the company, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions, are "forward-looking statements" and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied. The company assumes no obligation and does not intend to update these forward-looking statements.

Contact Information

  • Contact:
    David K. Waldman
    Klea K. Theoharis
    Crescendo Communications, LLC
    (212) 671-1020