ATLANTA, March 29, 2011 (GLOBE NEWSWIRE) -- Dutch Gold Resources, Inc. (Pink Sheets:DGRI) (the "Company") ( http://dutchgold.com ) today announced that its drilling programs in Nevada and Montana have achieved results that are consistent with management expectations, and released plans for its properties for the second quarter of 2011.
"We commend the work of our drilling contractor during this past three months. In spite of one of the coldest winters in recent history, with record amounts of snowfall, the Company achieved its data collection goals for the past quarter," said Daniel Hollis, CEO of DGRI. "The information that we have collected is in line with the Company's annual drilling plan, and it has paved the way for a robust drilling schedule from April to June of this year," he added.
The Company intends to focus on its Basin Gulch project, and to a lesser degree, the Jungo property during the spring of 2011. DGRI expects to add to its geology department, both in terms of personnel and technical resources, including advanced analytical modeling tools.
The Company anticipates a continued upward trend in gold pricing, with some near term softening during the second quarter of 2011. "We expect there to be short term volatility, with profit takers outnumbering long term investors from time to time. From a macroeconomic standpoint, we believe that miners who keep there costs under $400 per ounce should be solidly profitable, in light of continued economic volatility, and the continued interest in gold in emerging markets," commented Mr. Hollis. For an illuminating article, we suggest that our shareholders look to the following blogpost, supporting the Company's expectations.
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 and other regulatory authorities.
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CONTACT: Dutch Gold Resources, Inc. (404) 419-2440