SOURCE: Dutch Gold Resources, Inc.

Dutch Gold Resources, Inc.

August 31, 2009 08:00 ET

Dutch Gold Resources Announces Progress on New Study of Montana Property

ATLANTA, GA--(Marketwire - August 31, 2009) - Dutch Gold Resources, Inc. (PINKSHEETS: DGRI) today announced the new NI 43-101 compliant report being completed on the Aultra Gold Inc. (OTCBB: AGDI) Basin Gulch, Montana project includes a previously missing 3D modeling program performed by Gemcom Software International, Inc., (Gemcom). This modeling program covered 88 of the 323 Basin Gulch drill holes in a small area in which drill hole spacing was closely enough spaced to allow an informal resource projection. This resource projection indicates much higher levels of mineralization than previously reported.

Daniel Hollis, CEO of Dutch Gold Resources, stated, "This is important new data for the Company. This data was not available when the resource was independently reviewed three years ago for the initial NI 43-101 report. Management believes that this could make a significant impact on the results of the soon to be published NI 43-101."

Said Mr. Rauno Perttu, CEO of Aultra Gold, Inc., "The historic Gemcom projection on a small portion of the known mineralization demonstrates the large volume of gold and silver in the overall system. The consulting geologist completing the new NI 43-101 stated this newly rediscovered data might very positively impact the new NI 43-101 compliant report. The author of the NI 43-101 emphasized that the new larger resource projection covers only 88 of the 323 holes drilled on the property, and only a small portion of the property. The 235 holes not included in the study also intersected extensive gold mineralization, including local high grade intercepts, but were not drilled on close enough spacing to allow a resource projection to be made. We are quite encouraged that the inclusion of this data in the new NI 43-101 begins to show the true scope of this property. The initial study was extremely conservative, as it did not reflect all of the drill holes, and it did not include over seventy five per cent of the mineralized area. I look forward to fill-in drilling of several high-grade areas both inside and outside the current resource projections. I expect the new drilling to demonstrate a very significant jump in both the size and grade of the ultimate reserves both within the boundaries and outside the currently indicated resource."

Mr. Hollis continued, "We believe the bottom in gold has been seen between $905 & $930. While there is the potential for gold to go lower in the near term, the Company thinks that the next major price band will be $1,000 per troy ounce. As outlined in our stated four-step plan to increase shareholder value, we are pleased that there are significant additional high-grade targets both inside and outside the relatively small area that has been drilled at Basin Gulch. A rising gold price could positively impact the value of these in situ assets. We have reason to believe that an infill-drilling program might further add to our overall inventory of high-grade ore. The Company is in the final stages of negotiating a favourable financing plan to enable it to begin development during Fall 2009."

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. (AGI) has been 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 AGI. 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