Oro Gold Resources Ltd.
TSX VENTURE : OGR

Oro Gold Resources Ltd.

August 21, 2006 16:15 ET

Oro Gold Completes Six Drill Holes at Ixtapan Gold Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 21, 2006) - Oro Gold Resources Ltd. ("Oro Gold") (TSX VENTURE:OGR), has completed a first phase drill program on its Ixtapan gold property located in Mexico State, Mexico. The drill program was funded by joint venture partner Rockgate Capital Corp.

Six diamond drill holes, totaling 929 metres, were completed as part of the previously announced drill program. All six drill holes successfully intersected the projected vein targets over a 750 m strike length and tested the down-dip projection of the Ixtapan vein system between 50 and 150 metres below the known historic underground mine workings. Core samples for the mineralized intervals of all holes have now been analyzed by BSI Inspectorate laboratory (see table below).

The best gold results come from hole IXT-002, drilled beneath the Frank mine, which returned 0.58 g/t Au over 16.5 metres (11.5 m true width), including 1.52 g/t Au over 4.25 metres (3.0 m true width). Silver values for the mineralized intervals were correspondingly low.

Eric Grill, Oro Gold's VP Exploration stated: "Drilling to date suggests that the mineralized structures observed on surface increase in width and continuity at depth, and although the mineralized intervals are low in precious metal content, it does support our original target model. The target appears to be deeper than originally anticipated, which will require deeper drilling to test the potential for bonanza grades at the contact between the basement and the overlying volcanic sequence."

Oro Gold's management team together with Rockgate Capital is conducting a final review of the data to decide on a course of action for the Ixtapan Gold Project. A decision regarding additional work is being made and will be announced shortly.

A technical discussion of the results from the drill program is available on Oro Gold's website www.orogoldresources.com.



Drill Hole Assay Summary Table

----------------------------------------------------
Hole Mineralized Width of
Drill Depth Intervals Interval Au
Hole (m) (from - to) (m) (m) (g/t)
----------------------------------------------------
06-IXT-1 144 60.3 - 70.3 10.0 0.31
----------------------------------------------------
06-IXT-2 170 82.0 - 98.5 16.5 0.58
---------------------------------
84.4 - 88.7 4.3 1.57
---------------------------------
159.1 - 160.1 1.0 0.31
----------------------------------------------------
06-IXT-3 165 120.5 - 121.5 1.0 2.10
---------------------------------
155.5 - 162.8 7.3 0.22
----------------------------------------------------
06-IXT-4 185 145.0 - 146.7 1.7 0.45
---------------------------------
162.5 - 172.3 9.8 0.23
----------------------------------------------------
06-IXT-5 135 60.9 - 68.6 7.7 0.31
---------------------------------
115.0 - 119.0 4.0 0.31
----------------------------------------------------
06-IXT-6 130 117.0 - 122.0 5.0 0.25
----------------------------------------------------


Note: 06-IXT-1 and 2 were sampled in their entirety, whereas 06-IXT-3 through 6 were only sampled over their mineralized portions.

Drilling comprised HQ diamond core. All samples were bagged on site from diamond saw-cut core samples. Half of the core was retained, and half submitted for analysis. A 1000 gram split of each sample was prepared at BSI Inspectorate Laboratories Durango preparation facility, and then shipped to their analytical laboratory in Nevada, USA, for gold and silver analysis by ICP FA/AA Aqua Regia method. All gold results greater than 0.5 g/t by ICP were re-assayed at 1 Assay ton by FA-AA/AAS method.

Oro Gold Resources Ltd. maintains an extensive quality control program (QA-QC) in the preparation, shipping and checking of all samples from the property. As part of this program implemented by the Company, for every 30 samples submitted for analysis, one blank, one of two certified standards of known gold content, one coarse reject, and one pulp duplicate analysis were also performed. One sample pulp was also sent for outside analysis. Standards, blanks and duplicates make up approximately 15 per cent of the samples assayed. Half-core samples have been retained on site for verification and reference purposes.

The program was supervised by Freeman Smith, P.Geo, who is the Qualified Person as defined by NI 43-101. Mr. Smith was present at site during the initial stages of the drill program and helped to oversee technical procedures including the logging, cutting, bagging, and documentation of the drill core samples, and has reviewed the content of this press release.

Oro Gold continues to advance its other properties located in Mexico and Panama and generate new opportunities elsewhere in Mexico and Central America. The Company's immediate focus is to initiate drilling at the San Isidro property located within its flagship Rosario Gold Belt portfolio.

On behalf of the board of directors,

Darren Bahrey

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. Oro Gold disclaims any intention or obligation to revise or update such statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information