SOURCE: Dutch Gold Resources, Inc.

Dutch Gold Resources, Inc.

August 17, 2009 09:00 ET

Dutch Gold Resources Provides Update on Business Combination and Potential Acquisitions

ATLANTA, GA--(Marketwire - August 17, 2009) - Dutch Gold Resources, Inc. (PINKSHEETS: DGRI) today updated shareholders on recent progress towards executing its previously announced four step strategy focused on increasing shareholder value.

Daniel Hollis, CEO of Dutch Gold Resources, stated, "We continue to make progress on the acquisition front as well as the expansion of our current asset base. We expect our previously commissioned NI 43-101 will be ready for release prior to Labor Day and we have made positive progress towards the closing of the Aultra Gold, Inc. (OTCBB: AGDI) transaction. In addition, we have recently concluded due diligence on several Nevada properties. We anticipate concluding additional property acquisitions this quarter."

Mr. Hollis further stated, "We continue to work diligently with the Aultra Gold management team in anticipation of the consummation of our previously announced combination. Together we intend to file an Information Statement with the Securities Exchange Commission this month in anticipation of shareholder approval. The transaction, scheduled to close in mid-September, is expected allow the combined company to trade on the Over the Counter Bulletin Board (OTCBB)."

Mr. Rauno Perttu, CEO of Aultra Gold, Inc. commented on the results of property due diligence, "While we have jointly decided to pass on the Long Canyon projects, the Companies are quite enthusiastic about a number of Nevada opportunities that we hope to bring to conclusion in the next sixty days. As a result of the financing challenges facing many junior gold explorers, we continue to gain access to some uniquely high potential projects that we believe have substantial upside development possibilities. Lastly, we are cautiously optimistic that the Basin Gulch update will be positive and that we can begin additional exploration and development work this fall."

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