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Drake Gold Resources Inc. Signs Management Contract With Thunder Gulch Resources Ltd.

Drake Gold Resources Inc. (OTC: DKGR) is pleased to announce that it has signed a management agreement with Thunder Gulch Resources Ltd. (TGR)

TGR has agreed to an exclusive 48-month contract to perform services and operations for Drake Gold Resources Inc.

The agreement will provide DKGR with such general corporate, administrative, technical and other services that Thunder Gulch Resources LTD considers, such as engineering management services as necessary or advisable for the due and proper management of DKGR to achieve the goals and needs as determined by the policies and proceedings of the management and the board of the directors.

Additionally supervision of the hiring of competent personnel are required for the efficient operations, management and supervision of the performance of personnel and of the operations of various business enterprises, identification of business opportunities, conducting of due diligence, assistance in the negotiation and conclusion of contracts for such opportunities, assistance in coordination and administration of all development programs of DKGR together with all capital funding projects and resources which are necessarily incidental thereto, assistance in the coordination of the preparation and dissemination of the business plans and engineering reports, assistance in the liaison with and the setting up of corporate alliances for DKGR with major companies and customers, auditors, solicitors and the company's affiliated companies and business partners.

The president of Thunder Gulch Resources Ltd. said, "This agreement is very big step for both TGR and DKGR, and we are ready to begin operations as soon as possible, and with a number of potential projects already on the table we will steadily increase the value of Drake Gold Resources Inc. through diversified operations."

Clayton Smith, head of investor relations and consulting of Drake Gold Resources said, "Meeting personally with the principles of Thunder Gulch Resources Ltd. over the last few months has proved to be very beneficial, and we can't express our excitement enough for the future of Drake Gold shareholders, the agreement will lead to many successful operations."

Current and future shareholders are encouraged to sign up for email updates on our new website to stay up to the minute on new releases, reports, interviews, industry news and market related information. The sign up is located under the main menu at http://www.drakegold.com.

Shareholder inquires and suggestions are welcomed and should be directed to the Drake Gold Investor Relations Team at the toll free # 1-888-601-9983 or internationally at 1-503-618-0370 or via email at info@novakcapital.com.

About Thunder Gulch Resources Ltd.

Thunder Gulch Resources Ltd. (TGR) is an independent mining operator and project developer. The history of TGR is expansive and lengthy with success in mining ventures. The principle of TGR has operated exploration and development programs in Canada, United States, Venezuela, Africa and Russia and have set up mines on four continents: Asia, South America, Africa, and North America. The company combines over 30 years of mining, prospecting, evaluation, and operation expertise through its team of engineers and professionals.

Currently TGR has access and is completing evaluation and some sampling in certain projects located in a diversified array of areas for Drake Gold Resources Inc. to acquire. The company is reviewing areas throughout the United States along popular trends in Arizona, Oregon and Alaska. TGR is also reviewing locations throughout Canada in British Columbia and The Yukon Territories. Other properties have been presented to the company in popular gold districts in Northern Mexico as well that TGR is now considering.

About Drake Gold Resources Inc.

Drake Gold Resources Inc. is an early stage mining company that focuses on the exploration and production of precious metals. Several projects have been identified through its resources in North and Central America, which will be released as the agreements are completed. The company has allied itself with a team of professionals including Richard Biscan of Tara Gold Resources Inc. (TRGD) and Thunder Gulch Resources Ltd.

This press release contains forward-looking statements involving risks and uncertainties including statements regarding the Company's future performance. Such statements are based on management's current expectations and are subject to certain factors, risks and uncertainties that may cause actual results, events and performance to differ materially from those referred to or implied by such statements. In addition, actual future results may differ materially from those anticipated, depending on a variety of factors which include, but are not limited to, our ability to leverage our technology, manage our growth, protect our intellectual property rights, attract new customers and general economic conditions affecting consumer spending, including uncertainties relating to global political conditions, such as terrorism and the conflict with Iraq. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

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