SOURCE: Dana Resources

September 10, 2009 08:30 ET

Strong Demand for Gold Stocks

LAS VEGAS, NV--(Marketwire - September 10, 2009) - (OTCBB: DANR) (FRANKFURT: OD0) -- Dana Resources is a US-based precious metals development company with advanced stage gold and base metal properties in Peru. Management has comments on the recent surge in demand for gold stocks.

Barrick Gold announced today that they have increased the value of their bought deal to $4 billion USD citing "strong investor demand." This news comes a day after the Toronto-based gold giant announced plans to eliminate its gold hedging program due to their belief that gold prices are going much higher. Barrick commented it "expects global monetary and fiscal reflation will be necessary for years to come, resulting in an increased risk of higher inflation and a future negative impact on the value of global currencies." It also cited "robust gold supply/demand fundamentals."

Mr. DeMelt, Dana Resources' President has commented, "Gold is priced near $1000 USD per ounce due to the global demand for the precious metal as a hedge to inflation and the weak U.S. dollar. This investment climate is driving the demand for the stock of gold companies. We expect to continue to see strong interest in financial partners and investors for Dana. It is a great time to be a gold company with near term production."

Dana Resources has previously announced its plans for the open pit production of gold at its Collota deposit (initially hosting 1.17 million ounces of gold). Dana's Collota gold deposit is in the direct trend line as Barrick's world famous Pierina gold deposit.

About Dana Resources

Dana Resources is a precious and base metals exploration company with offices in the United States and Peru. Dana's management team possesses local knowledge, extensive international connections, a wealth of experience and technical expertise in mining, mining finance, exploration and production. Dana Resources has acquired a portfolio of gold, silver and other precious & base metal properties located in Peru's most prolific mining regions.

With Peru growing as a producer of gold, silver and other metals on the international market, Dana Resources is well positioned to capitalize on the escalating global demand for commodities. The management team and Directors are committed to creating value for their shareholders and to the long-term success of Dana Resources.

The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond Dana Resources control with respect to the commencement of drilling operations, concentration in mineral deposits, delays in testing and evaluation of ore samples, and other risks detailed from time to time in Dana Resources' filings with the Securities and Exchange Commission.

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