HISTORIC ASSAYS IN SWEDEN HELP DEFINE THE EXTENT OF GOLD-COPPER ORES AT FALUN PROPERTY

Drake Resources (ASX: DRK, ?Drake?) today announced plans for the Company?s exploration programme at Falun, based on the Eastern Copper-Gold Zone that represents a large, but poorly defined, zone of remnant gold-copper mineralisation.

Falun was one of the great base and precious metal mines of the world and formed a cornerstone of the Swedish economy for centuries. Drake now holds an exploration permit covering this deposit. Drake recently recovered the assays for 985 historic drill holes that were completed when Falun was in operation.

Highlights from today?s announcement:

At the historic mine site of Falun, recently obtained assay data from previous drilling show that the Eastern Copper-Gold Zone has a length of 500 metres, is up to 200 metres wide, and extends to at least 550 metres depth
High grade parts of the Zone were selectively mined for copper 100-300 years ago
The past mining did not take into account the gold content of the ores
As previously reported the Zone includes near-surface high-grade gold-copper mineralisation with intersections including 24m @ 5.8 g/t Au and 0.5% Cu, 42m @ 3.4 g/t Au and 0.5% Cu, and 16m @ 7.1 g/t Au and 0.7% Cu

To view the full ASX announcement with maps, please click here, http://www.stocknessmonster.com/news-item?S=DRK&E=ASX&N=440264

For further information, please contact:

Dr Bob Beeson
Managing Director
Drake Resources
+61 (0)3 9890 0292
bob@drakeresources.com.au

Ann M Nahajski
Director
AMN Corporate
+61 (0)400 205 433
ann@amncorporate.com

About Drake Resources

Drake Resources (ASX: DRK, ?Drake?) is a base metals and gold/silver explorer with advanced projects in Sweden and Australia.

In the three years since listing on the ASX, Drake has established a robust portfolio of projects. Drake?s competitive advantages include a premier position in the world-class Falun copper-zinc belt in Sweden, an experienced technical team with a successful track record, and a pipeline of projects and opportunities created through its previous alliance with OZ Minerals (ASX: OZL).

Drake?s objective is to become a successful and profitable exploration and mining company. The Company aims to achieve this goal by pursuing exploration and mining opportunities and exploring high quality projects in a technical, cost-effective manner.

Currently, Drake is focused on advancing its Scandinavian projects. Drake considers that copper, zinc and gold ores remain within the historic Falun Mine area and have put in place a program to assess the economic potential of remaining ore and new ore bodies. Recent rock chip samples at Digert?kt indicated exceptional zinc grades (up to 27%) and drill testing is underway to locate additional areas of interest.

The Company has also completed near-surface drilling at the Gr?nh?g Project, located only 2km southeast of the second largest copper producer in the province, the Bersbo mine. The awaited assays may help determine if these mineralised zones are linked geologically.

Drake believes there are additional opportunities to add value to its Australian assets in Queensland, New South Wales and Western Australia. A number of areas of interest are being discussed with third parties.

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Drake Resources Limited

	EXPLORATION STAGE
	CODE : DRK.AX
	ISIN : AU000000DRK0

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Drake Res. is a silver and gold exploration company based in Australia.

Drake Res. holds various exploration projects in Australia.

Its main exploration properties are FALUN in Sweden and MT CARRINGTON in Australia.

Drake Res. is listed in Australia and in Germany. Its market capitalisation is AU$ 83 280 as of today (US$ 60 230, € 53 129).

Its stock quote reached its highest recent level on April 21, 2011 at AU$ 0.73, and its lowest recent point on March 07, 2017 at AU$ 0.00.

Drake Res. has 6 940 000 shares outstanding.

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Drake Resources Limited

Gold Copper Assays Help Define Extent of Ore at Drake's Falun Project

Drake Resources Limited