ATLANTA, June 28, 2012 /PRNewswire/ -- Dutch Gold
Resources, Inc. (OTCQB: DGRI) (the "Company") is pleased to
announce that it has reached a definitive joint venture agreement
with its partner in Nicaragua. The Company also announced
that it has completed the ore extraction and collection of its
previously announced bulk sampling program.
"We are pleased to have reached a definitive agreement that
allows us to aggressively move forward with our partners in
Nicaragua," said Dan Hollis, CEO. The agreement calls for
DGRI to bring the professional, technical and managerial resources
to the project, as well as project financing and provides for the
parties to share net operating income equally in this first project
together. An *k will be filed later this week containing the
agreement itself.
The Company has completed the ore-gathering phase of its
bulk-sampling program, and expects to begin analytical
interpretation over the next three weeks, allowing the Company to
ship production equipment soon thereafter. "We are operating
within the timelines we initially set forth, to begin to increase
production during the third quarter of this year," said Mr.
Hollis.
Upon commencement of production in Nicaragua, the Company believes that it can
expand its area of operations, adding new projects whiles
optimizing output from this first joint venture. Photographs from
the current operation, and a copy of the Joint Venture Agreement
may be found at http://ir.stockpr.com/dutchgold/presentations.
About Dutch Gold Resources
Dutch Gold Resources, Inc. is engaged in the acquisition and
development of gold properties in North
America. The company's strategy is to focus on overlooked
resources that have the potential to have a value creation event
within 24 months of acquisition. The Company criteria call for a
property to reach either near term production, or be a candidate
for development through joint venture financing during the two
years subsequent to acquisition. The Basin Gulch project
Montana, the Jungo property in
Nevada, and the Gold Bug Mine in
Oregon comprise the Company's
current portfolio, along with its previously announced joint
venture in Nicaragua. The DGRI
management team is composed of seasoned professionals with decades
of experience in geology, and in mergers and acquisitions, as well
as corporate finance. For further information, please see
www.DutchGold.com.
Forward-Looking Statements
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by Dutch Gold Resources, Inc. are "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors,
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission ("SEC") and other regulatory
authorities.
For further information, please sign up at
www.DutchGold.com/alerts.
Cautionary Note to U.S. Investors
Dutch Gold Resources, Inc. is subject to the reporting
requirements of the Securities Exchange Act of 1934, as amended
("Exchange Act"), and applicable Canadian securities laws, and as a
result we report our mineral reserves according to two different
standards. Canadian reporting requirements for disclosure of
mineral properties are governed by National Instrument 43-101
Standards of Disclosure for Mineral Projects ("NI 43-101"). The
definitions of NI 43-101 are adopted from those given by the
Canadian Institute of Mining, Metallurgy and Petroleum. U.S.
reporting requirements are governed by the SEC Industry Guide 7
("Guide 7"). These reporting standards have similar goals in terms
of conveying an appropriate level of confidence in the disclosures
being reported, but embody different approaches and definitions.
Under Guide 7, mineralization may not be classified as a "reserve"
unless the determination has been made that the mineralization
could be economically and legally produced or extracted at the time
the reserve determination is made.
We disclose mineral reserves and mineral resources according to
the definitions set forth in NI 43-101 and modify them as
appropriate to confirm to Guide 7 for reporting in the U.S.
In our Form 10-K, filed with the SEC, we use the term
"mineralized material" to describe the amount of mineralization in
mineral deposits that do not constitute "reserves" by United States standards. This is substantially
equivalent to the total measured mineral resources and indicated
mineral resources (disclosed as inclusive of reserves), which we
disclose for reporting purposes in Canada. U.S. investors are cautioned that,
while the terms "measured mineral resources," "indicated mineral
resources" and "inferred mineral resources" are recognized and
required by Canadian securities laws; rules adopted by the SEC do
not recognize them. U.S. investors are also cautioned not to assume
that any measured or indicated resources will ever be converted
into Guide 7 compliant reserves.
The United States Securities and Exchange Commission limits
disclosure for U.S. reporting purposes to mineral deposits that a
company can economically and legally extract or produce. We use
certain terms on this web site, such as "reserves," "resources,"
"geologic resources," "proven," "probable," "measured,"
"indicated," or "inferred," which may not be consistent with the
reserve definitions established by the SEC. U.S. investors
are urged to consider closely the disclosure in our most recent
Form 10-K filed with SEC. You can also review and obtain
copies of these filings from the SEC's website.
Contact:
Tom Leahey, CFO
Dutch Gold Resources, Inc.
(404) 419-2440
SOURCE Dutch Gold Resources, Inc.