Dutch Gold Resources Provides Business Update and Strategic Reviewadmin
Tuesday, August 19th 2008
Dutch Gold Resources, Inc., a developer and operator of proven gold mines and a regional mill in North America, today provided an update to shareholders on its current operations and near term opportunities amidst the changing environment for gold mining companies.
Dan Hollis, Chief Executive Officer of Dutch Gold Resources, stated, “Our progress from a start-up gold mining operation to a full fledged exploration and development company continues. Although our production is not yet at the levels we had anticipated, we have made significant progress on, and are encouraged by the results of our recent drilling activities, as we have encountered significant mineralization. We look forward to completing an updated, third-party reserve study (43-101 report) by year-end which we believe will add to our existing reserve base.”
Mr. Hollis continued, “Overall, we remain encouraged by the outlook for the business. We believe one of our core strengths lies in our ability to identify overlooked resources that can be quickly and cost-efficiently brought into production. Towards this end, we are actively pursuing, and in advanced discussions to acquire or joint venture with complementary and strategic businesses. We believe this should increase our resource base while enabling us to leverage our infrastructure and the industry leading talent we have assembled.
“Although we have encountered delays in completing our audit, we remain committed to completing our filings in order to become fully reporting with the Securities and Exchange Commission, as we work diligently towards the goal of a listing on a national exchange.”
In January 2007, Dutch Gold Resources, Inc. acquired Dutch Mining LLC, which was founded in 1994. Dutch Gold is engaged in the mining and processing of proven gold reserves in North America. The company’s strategy is to focus on overlooked resources which can be quickly and cost-efficiently brought into production. The Company currently owns two mines in Southwestern Oregon, consisting of the Benton and Gold Bug mines. Production resumed in March 2007 and the Company has begun a drilling program to prove up additional reserves and enhance future production. Please visit the Company’s website for additional information at: www.dutchgoldresources.com.