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DRK: Strong Copper Gold Intersections

Further strong intersections of copper-gold mineralisation at Falun Sweden · Second phase of drilling on Eastern Copper-Gold Zone now completed · Latest drilling results have extended the high grade of the Johannes Lucas Gold-Copper mineralisation along strike and at depth · New intersections include: o 15.6m @ 11.9 g/t gold and 2.5% copper including high grade zones of 2 m @ 56.6 g/t gold and 5.7 % copper and 4.5m @ 31.9 g/t gold and 4.7% copper o 6.6m @ 14.2 g/t gold and 0.9% copper o 1.9m @ 13.2 g/t gold and 0.7% copper · Mineralisation remains open to the northwest, southeast and at depth on these drill sections Drake Resources Ltd ( DRK) is exploring the gold-copper mineralisation potential at the historic Falun Copper Mine in Sweden. The company has now received the final assay results from the second phase of detailed drilling in the Johannes Lucas section of the Eastern Copper-Gold Zone. Drilling has been taking place on three additional drill sections in the Johannes Lucas area (025N, 050N, 100N) to that drilled in 2009 (075N). Resource definition drilling is taking place on a 25m by 25m basis. These drill sections demonstrate the presence of gold-copper mineralisation throughout the area, and the depth to which mineralisation has been intersected. The assays from the last remaining holes at the Falun Project confirm the continuity of the Johannes Lucas mineralisation at depth on sections 050 and 100. The mineralisation has been extended to at least 150 m below surface on section 050 and 110 m below surface on section 100. Of particular encouragement was a strong intersection of 6.6 m @ 14.2 g/t gold at between 131 and 138 metres depth in Hole 34-10 on section 050N, demonstrating the continuation of high grade mineralisation at depth. Also on Section 050N some broad intersections between 100 and 150 m below surface show some copper and gold enrichment within narrow shoots; 1.9 m @ 13.2 g/t Au and 0.7 % Cu (hole 29-10) and 2.5 m @ 2.12 g/t Au and 1.69% Cu. A further high grade intercept of 15.6 m @ 11.85 g/t Au and 2.48% Cu, containing high grade zones of 2 m @ 56.6 g/t Au and 5.7 % Cu and 4.5m @ 31.9 g/t Au and 4.7% Cu, occurs in hole 30-10 on Section 100N. This intersection demonstrates that the system has an extent at least to section 100 and is not closed off to the north. In the three of the holes (29-10, 32-10 and 34-10), mineralisation was still prevalent at the end of the hole suggesting the system continues at depth. The drilling was unable to reach below these depths due the intersection of old mining cavities. The two additional holes on section 100 were only partially successful as one hole (31-10) was abandoned due to large cavity. Hole 30-10 reached 100 m below surface, showing numerous zones of lower grade mineralisation. The new intersections have been added to the drill hole database. These data will be used for resource resource estimate in the Johannes Lucas area of the Falun mine, using an independent consulting firm. For further information, please contact: Mr Jay Stephenson Company Secretary Drake Resources +61 (0)8 9228 0703