Dutch Gold Resources Completes Major Mill Upgrade
Monday April 2, 4:30 pm ET
Company Increases Production Capacity Approximately 175%
ATLANTA, GA--(MARKET WIRE)--Apr 2, 2007 -- Dutch Gold Resources, Inc. (Other OTC:DGRI.PK - News) (the "Company"), a developer and operator of proven gold mines and regional mills in North America, today announced that it has completed a major upgrade to its mill in Grants Pass, OR.
The Company has installed, tested, and completed production runs on its new configuration, which the Company believes increases capacity from 120 tons of ore per day (TPD) to 330 TPD. The mill is now fully operational and the Company anticipates it being brought up to capacity over the next two quarters.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, "We're pleased to announce this sizeable increase in our mill's production capacity. Our plan from the outset was to increase our production from the Benton mine to a level that would have exceeded our prior mill capacity. Assuming favorable weather conditions permit, we expect production to exceed our prior capacity in the very near future. Our goal continues to focus on ramping the mill to capacity with ore from the Benton Mine, followed by the Gold Bug Mine upon its opening. The increase in mill production further bodes well for us as we anticipate additional opportunities exist for us to mill neighboring mines' ore as well being the only currently permitted mill in the area."
"Our team at the mill has done an excellent job during our transition of converting from one platform to the other," reported Patrick Engel, General Manager. "The operation is running smoothly and we anticipate no unforeseen problems maximizing production to full load. We have had multiple production days in excess of 300TPD." The increased capacity is expected to process the Company's production for the next 24-36 months from the Southern Oregon holdings.
The Company will keep the previous equipment in inventory and expects to redeploy 120 TPD line in the future. Dutch Gold operates the Benton Mine and expects to reopen the Gold Bug Mine, which it owns, later this year. Its strategy is to focus on overlooked resources which can be quickly and cost-efficiently brought into production.
Additional information about the company is available at: www.dutchgoldresources.com.
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:
Contact:
David K. Waldman
Crescendo Communications, LLC
(212) 671-1020 x101
