Daleco Resources' Subsidiary, Clean Age Minerals, Inc. Announces Test Results And The Launch Of Its New Product 'ReNuGen' For Use In Wastewater Treatment Applications.

Business Editors

ALBUQUERQUE, N.M.--(BUSINESS WIRE)--Oct. 13, 2003

Clean Age Minerals, Inc., a Wholly Owned Subsidiary of Daleco Resources Corporation (OTC:DLOV)

Dov Amir, Chairman of Daleco Resources Corporation reported today that its wholly owned subsidiary, Clean Age Minerals, Inc. ("CAMI") has achieved, in independent field tests, significant improvements in the operating parameters of conventional municipal wastewater treatment plants through the introduction of one of its Patented CA-Series Products in the waste processing stream. He added that based on these test results and market demand assessments, Clean Age Minerals plans to proceed with the introduction of the product under the brand name ReNuGen (TM) during the current calendar quarter. Distribution of ReNuGen (TM) will be coordinated through Sumitomo Corporation of America ("SCOA") under its marketing and distribution agreement with the Company.

Clean Age Minerals' President, Robert E. Martin, stated that the Engineering Firm of Hubbell, Roth & Clark, Inc. ("HRC"), located in Bloomfield Hills, Michigan, conducted the "field testing" of ReNuGen (TM). The HRC testing was funded by SCOA while product and technical support was provided by CAMI. He noted that the testing utilized "side by side" comparable waste treatment units servicing a common source waste stream and subject to consistent operating weather conditions, insuring a controlled test environment for ReNuGen (TM). Based on HRC's testing, it was determined that the introduction of ReNuGen (TM) into the waste processing stream had a significant impact on the overall performance of the test facility. The product increases the biological activity and hence, capacity of a municipal wastewater facility. The recent full-scale test resulted in a biological treatment improvement of 24 percent, ammonia removal of 51 percent, total suspended solids removal of 51 percent, and phosphorus removal of 11 percent in the plant receiving the ReNuGen (TM) product versus the performance of the unit not receiving ReNuGen (TM). The test data also indicates that the ReNuGen (TM) application rate per unit of throughput waste volume would be highly cost effective for waste treatment plant operators. Mr. Martin noted that these levels of improvements are traditionally accomplished with an increase/expansion in the physical size of the wastewater treatment tanks, requiring many months of permitting, design, and construction work. Therefore, the ability of ReNuGen (TM) to enhance wastewater treatment plant performance could potentially save or defer expenditures of billions of dollars by municipalities for plant expansion by making the existing waste treatment facilities significantly more efficient.

Gary Novinskie, Daleco's President, noted that a great deal of effort has been expended to redefine the potential for Clean Age Mineral's CA-Series products by identify recurring market applications for the patent based products. The application of ReNuGen (TM) within the municipal waste treatment sector is one such market. He noted that the environmental compliance benefits associated with the use of ReNuGen (TM) in these types of facilities offer the Company a significant commercial opportunity on both a national and international market level.

Daleco Resources is an international asset and technology aggregation and monetization company with operating subsidiaries active in oil and gas, timber, minerals, environmental remediation and technology. Clean Age Minerals, wholly owned subsidiary of Daleco Resources Corporation, is a mineral extraction and processing company with holdings in New Mexico, Texas, and Utah. The Company focuses on the utilization of its minerals and Patented CA Series of Products in industrial and environmental application. Sumitomo Corporation of America, wholly owned subsidiary of Sumitomo Corporation, is a fully integrated trading and investment enterprise with offices in 14 major U.S. Cities. Hubbell, Roth and Clark, Inc. is a multi-disciplined Engineering Firm with offices in Michigan. The company is active in the areas such as environmental and infrastructure improvements which includes, wastewater treatment, sewers, water systems, and roads. The company's client base includes municipalities, government agencies and private sector clients.

Safe harbor for 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, which 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, risk inherent in the Company's international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.