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Message: Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario

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Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario

posted on Feb 05, 09 03:42AM

PDX Resources Inc.

TSX: PLG

Feb 05, 2009 08:35 ET

PDX Resources Advised of Drill Results From Detour Gold's Drilling Program at Detour Lake, Ontario

(6.39 g/t / 80 m, 4.79 g/t / 54.0 m & 2.48 g/t / 100 m in West Pit)

TORONTO, ONTARIO--(Marketwire - Feb. 5, 2009) - PDX Resources Inc. (TSX:PLG)("PDX") has been advised by Detour Gold Corporation ("Detour Gold") that it has released assay results of 35 holes totaling 11,160 metres from its 2008 infill diamond drilling program at the Detour Lake property in northern Ontario. Detour Gold has advised PDX that, of the 231,104 metres (621 holes) drilled in the 2007-08 programs, the last 12,000 metres of drill results are expected to be released next month. Thus far in 2009, Detour Gold has completed an additional 5,000 metres of drilling.

PDX has a 42.3% equity interest in Detour Gold (19 million shares).

http://www.marketwire.com/press-rele...

About PDX Resources Inc.

PDX (formerly named Pelangio Mines Inc.) holds a 42.3% equity interest in Detour Gold Corporation (TSX:DGC), which controls the Detour Lake advanced gold exploration project. PDX provides prospective investors with an opportunity to participate in potential increases in the size of the resource at the Detour Lake project and the value of PDX's equity interest in Detour.

Detour Gold and PDX Resources Agree to Merger

TORONTO, ONTARIO--(Marketwire - Jan. 26, 2009) - Detour Gold Corporation (TSX:DGC) ("Detour Gold") and PDX Resources Inc. (TSX:PLG) ("PDX") are pleased to announce they have entered into an agreement providing for the merger of the companies. PDX is Detour Gold's largest shareholder, and the 19 million common shares of Detour Gold that it holds represent an approximately 42% interest in Detour Gold.

Summary of the Transaction

Pursuant to the transaction, each PDX share will be exchanged for 0.2571 of a common share of Detour Gold, representing a value of $2.12 per PDX share based upon the closing price of Detour Gold shares on the TSX on January 23, 2009. The value accorded each PDX share is 28% over the closing price of the PDX Shares on January 23, 2009 and 31% over the 20-day volume weighted average trading price of the PDX Shares on the TSX as at the same date. Pursuant to the transaction, a total of 19 million common shares of Detour Gold will be issued to PDX Shareholders. PDX will become a wholly-owned subsidiary of Detour Gold and the shares of Detour Gold currently held by PDX will be cancelled. As a result, the transaction will have no material impact on the capitalization of Detour Gold. Detour Gold shareholders will continue to hold their existing Detour Gold shares.