D'Aguilar Gold Limited (ASX:DGR) Subsidiary Navaho Gold Acquires Mingoola Gold And Appoints CEO

Brisbane, April 28, 2010 AEST (ABN Newswire) - D'Aguilar Gold Limited (ASX:DGR) are pleased to announce that the company has entered an agreement for its subsidiary Navaho Gold Pty Ltd to acquire Mingoola Gold Pty Ltd in exchange for 7 million shares and 7 million options in Navaho and D'Aguilar's commitment to arrange initial funding of A$610,000 seed capital. D'Aguilar will continue to hold a majority equity stake in Navaho Gold, and assist with its corporate and project development plans. D'Aguilar currently holds 9,623,600 shares in Navaho.

Mingoola Gold is a mineral exploration company with a clear strategy focussed on Carlin style gold mineralisation. It has identified two areas in Queensland as highly prospective which complement the existing Navaho northern Bowen Basin Carlin style projects.

Mingoola holds 4 granted EPMs and 7 EPM applications covering 3,300 km2 in southern Qld and near Georgetown in North Qld. The exploration concepts and tenement package have been put together by a strong technical team with an outstanding worldwide discovery track record, and includes Messrs. Mark Dugmore and Bob Skrzeczynski with Dr Noel White and Dr Darryn Hedger.

Mingoola will appoint two nominees to the new Navaho Board which will include two nominees (including the Chair) from D'Aguilar. Former Managing Director of Mingoola Mr Mark Dugmore will become the CEO of Navaho Gold, with the key initial responsibility of taking the company to an IPO and listing on a recognised stock exchange. Mr Dugmore has 26 years experience in the mining and minerals exploration industry, including holding the position of Manager, Global Base Metals for BHP Minerals (ASX:BHP). He has extensive experience in project generation and evaluation, exploration and development, and public company management.

Mark will be assisted by Bob Skrzeczynski who will be retained by Navaho as a technical adviser. Mr Skrzeczynski has 35 years experience in the minerals exploration industry, including senior exploration and management positions with Utah Development Company/BHP. He was the Program Manager leading to the discovery of the Cannington Silver deposit.

Commenting on the merger of the two companies, Navaho Gold CEO designate Mark Dugmore said, "The merger of Navaho and Mingoola provides project synergies between the Navaho north Bowen Basin Projects and Mingoola's Georgetown and southern Qld Projects. This combined tenement package now covers more than 7,000 sq kms. Navaho Gold is focussed on exploration for sediment-hosted gold systems or 'Carlin-like' deposits that have multi-million ounce potential, as detailed in D'Aguilar's earlier ASX announcement on 18 January."

"We anticipate rapid growth in Navaho, and will be taking a global approach to an acquisition program," he added.

D'Aguilar Gold Managing Director Nicholas Mather said he was very pleased to have the Mingoola team on board Navaho. "Navaho's growth is assured with the experience and expertise of Mingoola. It gives Navaho access to an aggregate 60 years of worldwide project review and exploration experience that most juniors never see."

Contact

Mr Nicholas Mather Managing Director D'Aguilar Gold Limited Ph: +61-7-3303-0680 Mob: +61-0417-880-448 Mr Mark Dugmore CEO Navaho Gold Pty Ltd Ph: +61-7-3303-0680 Mob: +61-0407-132-975