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CEO update

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Moon17   Friday, 04/13/07 08:13:14 AM
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CEO update




April 12, 2007
We are continuing to find ways to add value for our shareholders here at Drake Gold. To summarize a number of issues I will address in this edition of the Drake CEO Corner,

The Jackpot Placer Project
The Dragoon Project
Drake Oil and Gas
Dividend Issuance
From our correspondences we have from both shareholders and other interested parties, these are the issues foremost on people’s minds.

The Jackpot Placer Project continues to progress, even if it is at a slower pace than some of us might have anticipated. We are continuing with an aggressive sampling schedule at the site. The outcome of these samples will inform our decision as to whether or not we should expand our lease to include more property in the area. If the results of this latest round of samples are as we suspect the expansion is likely to occur.

Work on finalizing the Dragoon project continues as well. As part of the negotiations for leases on the property we have instituted sampling on this site as well. One of the keys to Dragoon, similar to a number of other projects we are considering, is the relative ease of the permit process. While the Jackpot Placer Project remains one we are extremely excited about, we are also looking forward to endeavors that will take much less time from initial sampling to production. We expect Dragoon to deliver strong samples as well as being somewhat less involved in regard to the acquisition of permits.

In regard to other acquisitions, we are also looking at a number of gas and oil projects to become a part of Drake Oil and Gas. These will be folded into the new subsidiary before the stock is issued in the form of a dividend, as was announced earlier last quarter. As these acquisitions are finalized more information will be released in a series of press releases as soon as is possible.

We appreciate that the market is responding to the positive steps being made to enhance the value of DKGR. Many more positive developments are coming around each corner and we appreciate that the shareholders are here with us. We understand that Drake Gold Resources value is not just our value but yours as well and we will continue in our multi-tiered offensive for increases for us both.


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