ATLANTA, April 13, 2011 (GLOBE NEWSWIRE) -- Dutch Gold Resources, Inc. (OTCQB:DGRI) (the "Company") today announced that its board of directors has approved a resolution authorizing an increase in the number of authorized shares of the Corporation's common stock from 500,000,000 to 750,000,000. The action was taken, in part, to comply with contractual obligations to the shareholders of record of Aultra Gold, Inc. as of January 5, 2010.
"The Board of Directors believes that an increase in the number of shares of authorized common stock will benefit the Company and our stockholders by giving us needed flexibility in our corporate planning and in responding to developments in our business, including possible acquisition transactions, financings, and other general corporate purposes," stated Daniel Hollis, CEO of Dutch Gold Resources, Inc.
The Company reports good progress in its Basin Gulch drilling program and expects to post results within the next three weeks. Mr. Hollis added, "The Company has made real progress in Montana. We need the flexibility to acquire additional projects, and to further the exploration of our current projects." The Company does not currently anticipate the need for most of the incremental authorized shares.
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 in Montana, the Jungo property outside Winnemucca, Nevada, and the Gold Bug Mine in Oregon comprise the Company's current portfolio. 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 .
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: Steve Keaveney Dutch Gold Resources, Inc. (404) 419-2440