Do issue a formal press release on a service like PRWire. I would also recommend signing up for PitchEngine, a nominal expense for the benefits you receive.
Regarding resources, try hiring in your local area. You will be surprised at the quality of work you get when you're able to meet and collaborate face-to-face. The job market is very favorable to employers right now. I recently posted a job on Craigslist for a marketing person and received over 30 responses. 10 of them I would consider experienced/talented, and they fit my small budget.
Don't forget to find influencers and potential customers in every relevant social media space, including forums and niche communities that relate to your target audience.
I agree with Julie and her recommended approach. PR is long from being dead, but you'll need to carefully balance the old rules of PR with the new online game. You should save money and see greater results by finding the right person locally to execute both prongs to your approach.