Drake Gold Resources, Inc. New CEO Restores Company with Shareholder Communication, Project Development, Asset Acquisitions and Aggressive Reduction of Liabilities

CARSON CITY, Nev.--(BUSINESS WIRE)--

Drake Gold Resources Inc. DKGR, a natural resources company with a focus in oil and gas, announces today that interim CEO, Peter Matousek, has officially accepted the seat on a permanent basis. In doing this, Mr. Matousek has committed to a take-no-prisoners approach in line with a strategic agenda to ensure cumulative corporate growth and fundamental shareholder value.

Matousek, who formerly served as the company's investor relations provider, is a multilingual international consultant and entrepreneur who has worked extensively with the public markets in both Canada and the United States. He is a Veteran of Foreign War from his time as a U.S. Naval officer with extensive experience and unparalleled success in capital markets. His background includes directorships and key officer positions as well as shareholder communications.

Drake's majority shareholder has been adamant that a man like Matousek at the helm is valuable, stating, “He is indispensable and has already achieved, in the last 60 days, more than previous management has in the last 5 years; all in the name of company growth and building shareholder value.”

Matousek states, “This is not your father's Oldsmobile, in so many words. Drake Gold Resources holds immense potential as a domestic resource company. As we continue to build fundamentals, we are fostering collective success for operations and our shareholder base.”

In less than 60 days as CEO, Matousek has ensured the company:

• Is current with the Nevada Secretary of State, after years of non-compliance by previous management.
• Is current with the company's transfer agent.
• Is in possession of recovered material proprietary information.
• Has secured key individuals to foster the company toward exponential growth. The company continues to attract strategic alliances toward expedited growth.
• Has negotiated an amendment of Pennsylvania lease agreements to ensure what will become an additional 50% working interest in target leases toward the goal of owning the particular lease outright. A copy of the amended agreement will be posted to the company's website this week.
• Has implemented a much-needed ‘rumor free' information source via official website and press release, with each dissemination reviewed by counsel prior to release. As well, the company is currently working to fulfill obligations necessary to achieve OTC Pink Current Information Tier as rated by www.otcmarkets.com
• Has initiated a policy in place with shareholders to operate in the present and in what is to come. The company will NOT go out of its way to rationalize on behalf of what it feels to be poisonous persons and/or elements that were previously engaged in the company.
• Further, its ‘No Tolerance' policy “has ensured that such elements and persons have been completely removed from the company and its operations so as not to further distract us from our imminent project flow, near term revenues and long-term growth,” states Matousek.

Matousek further notes, “I am working diligently to move the company forward, to reach its full potential; working aggressively to create a debt free company by end of Q1 2013. Nobody else in the last nine year history of the company has accomplished what we have. In addition we have some exciting updates to share on secured transactions and negotiations underway.”

On that note, the company is also closing a significant transaction with streamlined energy producer, Parker Technologies Inc. (www.parkertechnologiesinc.com), to be detailed and finalized in the coming days.

Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission.