LONDON, May 16, 2005 (PRIMEZONE) -- Dragon Gold Resources, Inc. (OTCBB:DRGO) ("Dragon Gold" or "the Company") is pleased to announce that Andrew F de P Malim has agreed to join the Board of the Company as Non-Executive Chairman. Mr Malim has over 30 years' experience in mining exploration and finance, and brings great value to the company given his vast experience as a board member to numerous public and private North American mining companies as well as his speaking engagements and articles on mining.
Mr. Malim was a founding member of the award-wining James Capel & Co. mining team in 1969, where he acted as a precious metals analyst and institutional salesman. In 1980, he founded the Lion Mining Group and over a 20-year period played an active role in mining fund management and the finance of numerous precious and base metal projects in North and South America, Asia and Africa. In 1985, via the Lion Group, he co-founded, with N M Rothschild & Sons (London), Mining Finance Corporation Ltd. (Toronto Listed) which brought the Blackdome high-grade gold mine into production. This success led to a new exploration boom in the territory. Afterwards, Malim was involved in the funding and development of a SNIP high-grade underground gold project in British Columbia via Delaware Resources and became a specialist in the funding of vein-type and bulk tonnage heap-leach precious metal deposits.
In 2004, and after working with a number of major mining companies (Homestake, Lac Minerals and Newmont in several joint ventures), Mr. Malim decided to sell his controlling position in the Lion Group in order to focus on value creation as a principal rather than agent. On his appointment, Mr Malim said, "I believe Dragon Gold to have the right ingredients for major success, having access to gold projects in relatively unexplored but favorable geologic environments capable of hosting large ore bodies together with a natural market for its gold production."
Mr. Malim has entered into a commitment of at least five years with the company where he will fulfill a complementary role with the other Board Members in the negotiation of mining exploration and development licenses, geologic analysis and fund-raising.
Commenting on Mr Malim's appointment, Johannes Petersen added: "I am delighted that Andrew has decided to join Dragon Gold's efforts to build a leading gold exploration company in the Far East. Andrew's exceptional breadth and caliber of expertise will be beneficial to the Company's future success."
Dragon Gold Resources, Inc. is a gold exploration company headquartered in London, England. The Company focuses its exploration and minerals development activities in China and Mongolia. Both countries provide an ideal foreign investment climate given their untapped geological potential and favourable mining laws. Additional information can be found on the Company's Website: www.dragon-gold.com.
On behalf of the Company: Johannes Petersen President
Safe Harbor for Forward-Looking Statements: This release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation, expectations, beliefs, plans and objectives regarding the potential transactions and ventures discussed in this release. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are the risks inherent in gold exploration, the availability of needed personnel and equipment for future exploration and development, fluctuations in gold prices, and general economic conditions.