Daleco Resources Corporation Expands Oil and Gas Staff

Daleco Resources Corporation (OTC.BB:DLOV):

Gary J. Novinskie, President of Daleco Resources Corporation, announced today that David L. Matz has joined the Company to manage its oil and natural gas activities. Mr. Matz’ background covers all aspects of the oil and natural gas exploration and production business, providing the Company with substantial operating experience which will help drive the Company’s efforts to expand its oil and natural gas holdings within the United States. During his 36 year career, Mr. Matz has served as Project Manager for a coal bed methane horizontal drilling project in West Virginia and as Vice President for Equitable Production Company and Statoil Energy managing each company’s drilling and completion operations for the Appalachian Basin. He also held various engineering positions with Conoco during his eleven years with that firm. Mr. Matz is a graduate of Penn State with a degree in Petroleum and Natural Gas Engineering. The addition of Mr. Matz is consistent with the Company’s focus on expanding its oil and natural gas operations.

Daleco Resources is an international resources company with oil, natural gas, minerals and environmental remediation technologies.

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.