Drake Resources Limited - February 28

Tuesday, 8 February, 2005 - 21:00

Proposed code: DRK

Issue price: $0.20

Principal activities: Gold and silver exploration.

Corporate: Brett Fraser (non-executive chairman); Bob Beeson (managing director); and Jay Stephenson (non-executive director and company secretary).

www.drakeresources.com.au

(08) 9228 0703

Drake plans to raise $3 million for a 20 cent a share offer due to close on February 18. The offer is not underwritten.