Drake Gold Resources Announces New Discovery From Management's March Trip to Georgia With Assay Results Reporting Gold Concentrations Over 2.5 Ounces per Ton: Financial News

Drake Gold Resources Announces New Discovery From Management's March Trip to Georgia With Assay Results Reporting Gold Concentrations Over 2.5 Ounces per Ton
Monday April 21, 2008 1:15 pm ET

Discovery of the High Grade Zone Has Increased Management's Expectations for the Initial Target in Georgia

ATLANTA, GA--(MARKET WIRE)--Apr 21, 2008 -- Drake Gold Resources (Other OTC:DKGR.PK - News) is pleased to announce the results of recent geological assays from its Georgia mining site. The discovery confirms previous expectations of exceptional promise for the operation and proves higher grades of gold ore then initially expected. Sixteen of the eighteen samples showed significant gold values, with the highest concentration exceeding 2.5 ounces of gold per ton. A total of four of the eighteen samples demonstrated gold assay grades of or beyond one ounce per ton, and the remaining twelve ranging from .011 to .78 per ton.

 
Southern Spectrographic Laboratory
Samples Taken 3/17/08 to 3/21/08
Method: IPC

                                                GOLD
SAMPLE                                         OZ/TON
                                              ========
Upper Vally NW                                    1.74
                                              --------
Lower Valley                                      2.51
                                              --------
N Hill Lower 2                                    0.23
                                              --------
N Hill Lower 1                                    0.78
                                              --------
Hole 1                                            0.22
                                              --------
W Hill Behind H.A2                                0.32
                                              --------
Crush Valley Ore Creek                            0.41
                                              --------
Hole 3                                            0.38
                                              --------
N Hill Side Property                             0.015
                                              --------
N Hill Valley Power Line                          0.11
                                              --------
N Center Hill                                    0.011
                                              --------
Creek Screen                                    < 0.01
                                              --------
Drive Way                                         0.39
                                              --------
Big Rock Next to House                            0.66
                                              --------
W Hill Behind H.A1                              < 0.01
                                              --------
Hole 1                                            1.00
                                              --------
Behind House                                      1.13
                                              --------
Big Quartz’s                                      0.45
                                              --------

Although this table shows the new discovery, a comprehensive review of all five rounds of assays will be published on our website, blog, and in pdf format below. These samples lend support to management's optimistic expectations regarding the site and provide significant insight into the concentrations of gold reserves on the property, adding support to management's theory the main source of gold rests in the northern sector of the property.

http://www.drakegold.com/docs/assays/DKGR-1st-GA-Assays-Hazen-Gault-04-09-07.pdf http://www.drakegold.com/docs/assays/DKGR-2nd-GA-Assays-ALS-09-06-07.pdf http://www.drakegold.com/docs/assays/DKGR-3rd-GA-Assays-ALS-02-28-08.pdf http://www.drakegold.com/docs/assays/DKGR-3rd-GA-Assays-SSL-02-28-08.pdf http://www.drakegold.com/docs/assays/DKGR-4th-GA-Assays-SSL-03-21-08.pdf

President John Marconette stated, "We have been better able to define the objectives due to discovering this higher concentration. We can now focus our operational plan and permits on this area of our property. These assays will increase the average grade throughout this property and help shape the Georgia Reserve Report management is preparing for release. Additionally he remarked, "We are eager to move forward with operations to more accurately determine the extent of gold reserves on the property."

ABOUT DRAKE GOLD RESOURCES, INC.

Drake Gold Resources, Inc. is a development stage mining company that focuses on the exploration and production of precious metals. The Company has a distribution agreement for Dove Mining Equipment which has yielded several opportunities for expansion. Announcements will be made as details are made available.

For further information about Drake Gold Resources please visit our website at http://www.DrakeGold.com and blog at http://www.drakegold.blogspot.com.

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