Daleco Resources Announces Three New Board Members

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WEST CHESTER, Pa., Aug. 26, 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 today the addition of three new members to their Board of Directors. The new members are Mr. Michael Carter, Mr. Stan Porfido, and Mr. Raymond Sobieski.

"Daleco is extremely pleased to announce these strategic additions to our board of directors and we look forward to utilizing their sales and marketing backgrounds, industry knowledge as well as entrepreneurial and capital markets expertise as we move towards monetization of our energy resource portfolio," stated, Mr. Michael D. Parrish, Chief Executive Officer of Daleco. "We believe their experience will greatly assist us in improving our global sales efforts."

Michael M. Carter is the CEO and President of BizEquity, the first patented and leading online business valuation service. Mr. Carter is also Managing Director of The Musser Group, where he works with entrepreneurs to help finance, structure and grow companies. In his career so far, Michael has assisted in raising more than $150 million in capital as an executive or founder of technology companies and has been affiliated with and has helped to create over $1.2 billion dollars in shareholder equity. He has founded three technology companies and served as an executive officer of a billion dollar publicly traded technology services firm.

Stan Porfido possesses extensive professional experience in natural resources and has led the sales efforts at multiple firms. Mr. Porfido is the former President and CEO of ERM-ENVIROCLEAN INC. where he grew the business from $10 million per year with profit of $600,000 to $55 million per year business with profits of $4.8 million per year. A graduate of Stevens Institute of Technology, his most recent position was President and CEO of DOW-RADIAN INC., where he increased revenues by 120% in three years without acquisitions. He has been a member of the board for several publicly traded companies.

Raymond Sobieski possesses more than thirty years of entrepreneurial and leadership experience, having founded several manufacturing firms and an early e-commerce company. Mr. Sobieski most recently served as President and CEO of TE Wire & Cable, a specialty wire & cable manufacturing firm focused on the Aerospace industry. He has developed strong relationships with major firms including Boeing, Airbus, GE Energy, GE Aerospace, Lockheed Martin and others. At TE Wire he had success in expanding international markets in the UK, Europe and Far East, while drastically increasing overall revenues. Currently Mr. Sobieski is a private investor and partner in the ARC Angel Fund. A CPA, Mr. Sobieski has an MBA from the Wharton School.

The new additions will occupy the vacancies of the late Lord John Gilbert, and two others, as a result of the shareholder voting at the Company's annual meeting in June.

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

Source:Daleco Resources Corporation