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Drake Gold Resources Inc. DKGR is pleased to announce the acquisition of Pegasus Well Services,
scheduled to be completed within two weeks. Pegasus is a San Antonio-based
company that services all of South Texas with a growing list of oil
services. (http://www.pegasusoilwellservices.com)

CENTURY CITY, CA -- (MARKET WIRE) -- 06/06/06 --

Estimations of revenues for 2006 will be released after evaluation is
completed of audited financials and the operations. The acquisition will
make Drake a profitable company. The acquisition is being done for all
stock, which is restricted for 2 years.



The company plans to expand operations to include complete well services
for wells above 10,000 ft. in depth including acidization treatments,
cementing, and drilling operations. Pegasus is a growing service provider
specializing in shallow oil, gas, and water wells in the South Texas area.





The company began operations in November of 2001 with the first several
months being devoted to training personnel, acquiring, and modifying needed
equipment. The company became more active over the first 3 years,
solidifying its foundation in 2004. Operating with only one cementing
unit, its sales for 2005 exceeded $600,000 over a shortened year due to a
mechanical rebuild of its main unit.



With the addition of Pegasus, Drake plans on adding additional cementing
units, hydraulic fracturing units, drilling rigs, and other needed
services, with the intent of becoming a one-stop shop for the oil business.
With the growing demand for oil and gas operations in the Texas arena,
revenues are expected to continue to rise.



For Drake, the addition of a full-service oil well company will make the
advancements into oil and gas development hastened and is lowering capital
needed to begin operations. The market today makes it very difficult to
schedule equipment needed to perform these services so having them in-house
gives Drake the ability to move consistently from project to project
without any delays while minimizing risk.



Furthermore, Drake has already made a series of advancements into acquiring
oil and gas leases, projects and potential joint ventures to build its
portfolio of petroleum operations. The current acquisition and connections
already within the industry have located prime targets in South Texas, the
Barnett Shale in Texas, California and Louisiana. With the new service
division it makes it very easy to obtain projects for low costs and entice
current operators to entertain joint ventures.



This is in tune with its recently announced corporate strategy, which is
partially outlined here:



"DKGR intends to be a diversified company by operating in the natural
resource, petroleum, and alternative energy markets. As a result of
ever-increasing scarcity, the market for natural resources is clamoring for
diversification and innovative exploration tactics. Potential
opportunities for diversification include diamond, gold, silver, copper and
other minerals in areas such as Arizona, Oregon, Alaska, British Columbia,
the Yukon Territories, and other affiliated sections throughout gold
districts in Northern Mexico. DKGR also plans to capitalize on current and
long-term trends in energy prices to operate in the petroleum and
alternative energy markets."



The Drake team believes acquiring Pegasus Well Services is a step in the
right direction -- it minimizes the risk of oil and gas exploration while
building solid well-margined cash flows.



Current and future shareholders are encouraged to sign up for email
updates. The new Company website provides current news releases, reports,
interviews, industry news and market related information. To sign up, click
on the link located under the main menu at www.drakegold.com.



Shareholder inquiries and suggestions are welcome and should be directed to
the Drake Gold, Investor Relations Team at (toll free) 1-888-601-9983,
internationally at 1-503-618-0370, or via email at [e-mail].



About Drake Gold Resources, Inc.



Drake Gold Resources, Inc. (http://www.drakegold.com) is an early-stage
mining and energy company that focuses on the exploration and production of
precious metals, diamonds and energy, such as petroleum and coal. Several
projects have been identified through Thunder Gulch Resources, Ltd. and its
resources in North America. Drake is in the process of completing the
acquisition of Pegasus Oil Well Services.
(http://www.pegasusoilwellservices.com) Announcements will be made as
agreements are completed.



This press release contains forward-looking statements involving risks and
uncertainties including statements regarding the Company's future
performance. Such statements are based on management's current expectations
and are subject to certain factors, risks and uncertainties that may cause
actual results, events and performance to differ materially from those
referred to or implied by such statements. In addition, actual future
results may differ materially from those anticipated, depending on a
variety of factors which include, but are not limited to, our ability to
leverage our technology, manage our growth, protect our intellectual
property rights, attract new customers and general economic conditions
affecting consumer spending, including uncertainties relating to global
political conditions, such as terrorism. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of
the date hereof. The Company does not intend to update any of the
forward-looking statements after the date of this release to conform these
statements to actual results or to changes in its expectations, except as
may be required by law.



Investor Relations Hotline
Domestic: 1-888-601-9983
International: 1-503-618-0370
Email: [e-mail]