Daleco Resources Corporation Re-Aligns Board.

LOS ANGELES -- Daleco Resources Corporation (OTC.BB:DLOV):

Dov Amir, Chairman of Daleco Resources Corporation announced today that the Company has initiated steps to re-align its Board of Directors to facilitate the creation of a Board dominated by independent directors as suggested by the corporate governance guidelines arising out of the enactment of the Sarbanes Oxley Act of 2003. To achieve this transformation, the Company reported that several Directors, which are actively involved in the direct daily operations, have resigned their Board and/or operating positions. The following individuals have resigned from their Board Seats, Gary Novinskie, Daleco's President and Robert Martin, President of the Company's subsidiary, Clean Age Minerals. With respect to operating positions, Mr. Martin also retired from his position with Clean Age Minerals; Mr. Novinskie relinquished his position as Chief Operating Officer while remaining the Company's President and Mr. Amir has stepped down from the position of the Company's Chief Executive Officer ("CEO"). Mr. Amir retains his position as Chairman of the Board. Mr. Amir noted that the Company is grateful to Mr. Martin for all of his efforts and many years of service to Daleco and its operating subsidiaries.

Mr. Amir also reported that Mr. Alfonso Knoll, a current member of the Board, will serve the Company as its interim "CEO" and that announcements as to the new appointments to the Board will be made shortly.

Mr. Knoll commented that he is honored by the vote of confidence the Board has placed in him. He added that he views Daleco as a Company with an extensive industrial resource holding base and patented remediation technology that have value far beyond that which has been realized to date. He added that he felt that the re-alignment of the Board was a positive step to enhance that realization both from an operational and a financial market perspective.

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.

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 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 international operations, imprecision in estimating product reserves and the Company's ability to replace and expand its holdings.