Dutch Gold Resources Inc. (fka DGRI)

[MinnieM]

DGRI Dutch Gold Completes Asset Purchase From Aultra Gold

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=dgri

ATLANTA, GA, Dec 18, 2009 (MARKETWIRE via COMTEX) -- Dutch Gold Resources, Inc. (http://www.dutchgoldresources.com) (PINKSHEETS: DGRI) today announced that it has purchased certain mineral properties from Aultra Gold, Inc. The completion of this acquisition of projects in Montana and Nevada will allow the Company to accelerate the growth of building shareholder value.
"The acquisition is consistent with our plan to develop potential high-value properties in key areas, in politically stable areas," said Dan Hollis, CEO of Dutch Gold Resources.
The intent to complete the transaction had been previously announced as a merger, but on review it was determined that a partial asset purchase was more favorable to both firms.
"We are grateful to our shareholders and business partners who have tirelessly supported us in this transaction, and excited about the potential of these projects," added Mr. Hollis.
With the assistance of Rauno Perttu, Dutch Gold Resources will begin the process of developing the high value targets first, and will release development plans during the first quarter of 2010, and will begin implementing them during the second quarter of 2010. GRI believes that it can significantly add to the value of the properties, particularly with the help of Mr. Perttu.
Consideration for the transaction included the issuance of shares to Aultra Gold, Inc., assumption of certain Aultra responsibilities, and the issuance of additional considerations to Aultra including the transfer of certain intellectual properties from DGRI to Aultra Gold.
"We are pleased to have begun the first acquisition detailed in the Company's four Step Plan to build shareholder value. We are confident in the coming weeks and months that this transaction will form the base to quickly acquire additional keystone assets for the Company," concluded Mr. Hollis.
An 8K providing full details of the acquisition will be filed next week.
About Dutch Gold Resources, Inc.
Dutch Gold Resources, Inc. is engaged in the production and development of gold reserves in North America. The company's strategy is to focus on overlooked resources that can be quickly and cost-efficiently brought into production, and to seek out potentially significant exploration targets in high value geographies. The Company now has operations in Oregon, Nevada and Montana, and expects to acquire other projects in 2010. DGRI management has strong experience in mergers and acquisitions, as well as corporate finance.
About Aultra Gold, Inc.
Aultra Gold, Inc. will also be structured to take advantage of special opportunities in the financing of gold production, and development, with an emphasis on producing cash flows. A detailed business plan will follow, in an 8K. The Company will continue to focus on low-risk and proven reserves that can be economically mined and be profitable for our shareholders.
Forward-Looking Statements
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:
David K. Waldman
Klea K. Theoharis
Crescendo Communications, LLC
[phone]


SOURCE: Dutch Gold Resources, Inc.
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SUBJECT CODE: Manufacturing and Production:Mining and Metals





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