Daleco Announces New Board Members

WEST CHESTER, Pa., May 8, 2013 (GLOBE NEWSWIRE) -- Daleco Resources Corporation (OTCQB:DLOV), a natural resource company with operating subsidiaries active in oil and gas, industrial minerals, and environmental remediation technology, announced the company has added two new members to their Board of Directors. The new members are Mr. Li Chi Kong and Mr. Grant Lin.

"We are extremely pleased to announce the additions of Mr. Li and Mr. Lin to our board, and we fully expect to leverage their international trading expertise as we continue to commercialize our own key assets," stated Mr. Michael D. Parrish, Chief Executive Officer of Daleco. "We believe their experience will allow us to form new profitable relationships and establish us as a truly global small business with an international sales focus."

Li Chi Kong possesses more than thirty years of entrepreneurial and leadership experience, having led and created several ventures in China. Since 2003, Mr. Li has been the Chief Executive Officer of DTE Investments, a natural resources trading company throughout Asia. Previously, he was a Chinese based real estate developer and serial entrepreneur. Earlier in his career, he was the senior executive and partner responsible for the construction of the Fanda's computer manufacturing facility owned by the Lenovo Corporation.

Grant Lin is the Managing Director of Far East Investments, LLC. He is also founder and owner of V Channel, an interactive TV shopping channel currently broadcasting 24/7 from Los Angeles, CA to the United Kingdom. Previously, he served as CEO of Far East Industrial Stock Co., Ltd China. Mr. Lin has wide international connections in investing, trading, and manufacturing in Asia, the United States, and the United Kingdom.

Daleco Resources Corporation

Daleco Resources is a natural resource company with operating subsidiaries and natural resource holdings active in oil and gas, industrial minerals, and environmental remediation technology. For further information on Daleco and clean age technologies, please visit www.dalecoresources.com.

Forward-Looking Statements

Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in the future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition, and risk inherent in the Company's operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.

CONTACT: Investors: Alan Sheinwald Alliance Advisors, LLC (212) 398-3486 asheinwald@allianceadvisors.net

Source:Daleco Resources Corporation