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Dagilev Capital Changes Name to Astur Gold and Provides Corporate Update


Published on 2010-06-04 05:10:31 - Market Wire
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 4, 2010) - Astur Gold Corp. (TSX VENTURE:AST)(FRANKFURT:CDC) (the "Company") announces that at its annual general meeting held on May 31, 2010 shareholders approved a name change to Astur Gold Corp. from Dagilev Capital Corp. The change of name became effective on June 4, 2010. The Company's new trading symbol on the TSX Venture Exchange is AST.

"The new name is a more accurate reflection of the Company's business activities. The Company's flagship Salave Gold Deposit is located in the historic mining province of Asturias, Spain. We are looking forward to developing the project in cooperation with the local community and the region as a whole, both in the role of employer and as partner to various stakeholders. The Company will adhere to the highest professional standards and ensure that our operations meet or exceed all national and international social and environmental regulations," stated Company CEO Cary Pinkowski.

The Company has opened an office in Oviedo, Asturias, Spain and will be opening an office in the village of Tapia, Asturias, Spain. "We are encouraged by the positive endorsements of Salave from various trade groups, unions and people who want to work." stated Company President Emilio Hormaeche.

FINANCING COMPLETED

Furthermore, the Company wishes to announce the successful completion of a private placement for gross proceeds of $5,025,000, for which Haywood Securities Inc. acted as agent. The use of proceeds will be directed towards various development activities, including economic studies, at Salave. The Company is currently reviewing and evaluating exploration plans and will issue more information shortly.

PROJECT SUMMARY

The Company is focused on developing its 100% owned Salave Gold Project in northern Spain. Salave is one of the largest and highest grade undeveloped gold deposits in Western Europe. The property has a recently updated NI 43-101 compliant mineral resource estimate containing 1,683,000 oz of gold in the Measured & Indicated category (17,945,000 tonnes grading 2.9 g/t Au) with an additional 338,000 oz of gold in the Inferred category (3,770,000 tonnes grading 2.8 g/t Au). The property is the subject of a NI 43-101 report, "Technical Report on Salave Gold Deposit, Spain", dated, March 5, 2010, which is available on the SEDAR website, [ www.sedar.com ].

There is excellent exploration potential with four of the principal high grade zones of mineralization open at depth and additional exploration areas to the west that have never been tested. Previous metallurgical tests indicate recoveries in the order of 90%. The region has excellent infrastructure and a history of mining.

Previous drilling focused on depths to 250 meters, with only a nominal number of holes exceeding the 300 meter level. The last drill hole for Salave was Hole RN-70 (2005) and intersected high grade mineralization that assayed 33.9 g/t gold over 39.8 meters in two zones between the down hole depths of 252.2 and 302.7 meters.

Brian McEwen, P. Geol. is the qualified person as defined in NI 43-101 is responsible for the scientific and technical information and has reviewed the contents of this news release.

OPEN PIT LEGAL STATUS

In August 2005, the Regional Government of Asturias halted open-pit project development of Salave due to the introduction of certain new zoning legislation. The decision was not based on environmental factors and contradicted several other authorizations previously received by Salave's previous owner, the most important being the authorizing of change of land use to be used in mining activities. There has been over €40 Million spent to date on exploration on Salave.

Immediately after development activities were halted, three separate legal proceedings were commenced by the previous owner against the Government of Asturias seeking a reversal of the decision. Those cases are now before the Supreme Court of Spain. A forth case seeking compensation of €320,000,000 in damages from the Government of Asturias was also launched in the High Court of Asturias. The High Court of Asturias recently ruled that an award is "premature" as Astur Gold could still potentially receive the open-pit permit if it wins one of the three cases presently before the Supreme Court of Spain.

The High Court of Asturias stated that a new lawsuit for monetary compensation can be launched against the Government of Asturias for damages once the appeal process in the Supreme Court is completed. Any cash award received will be equally split with the vendor of the property after a deduction of an upfront payment as well as litigation and court related costs incurred by the Company between April 13, 2010 and the time of settlement or final judgment in the lawsuit. The Principality of Asturias has stated that the zoning legislation at issue will not affect the permitting of an underground operation.

ON BEHALF OF THE BOARD
Signed "Cary Pinkowski"
Cary Pinkowski, Chief Executive Officer and Director


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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