To be advised - Drake Resources Limited

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). (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.

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