Wikia

Drake mounts are epic flying mounts available by 3 ways. Both Alliance and Horde can acquire these mounts.

Drakes as loot

The majority of drake mounts are available as loot items from various dungeons and raids.

Culling of Stratholme

The Bronze Drake is a 100% drop from Infinite Corruptor in the Culling of Stratholme on heroic mode.

Obsidian Sanctum

The Black Drake drops from Sartharion in the 10-man version of the Obsidian Sanctum and the Twilight Drake in the 25-man version. These drakes will only drop if all three of Sartharion's Twilight Drake lieutenants are still alive when you engage him.

The Eye of Eternity

The Azure Drake can be found inside Alexstrasza's Gift after defeating Malygos inside The Eye of Eternity in the 10-man or 25-man versions. Previously the Blue Drake dropped in the 10-man version, but has since been moved to The Oculus to make the instance more appealing. There is no difference in drop rate between 10 and 25-man versions of the instance.

The Oculus

The Blue Drake can be found inside the [Cache of the Ley-Guardian] after defeating Ley-Guardian Eregos inside The Oculus. It was previously dropped in the 10-man version of The Eye of Eternity but was moved to The Oculus in 3.3.2. to encourage players to complete the instance instead of abandoning it.

Note: The Cache will only drop if the instance was randomly selected using the Dungeon Finder, and the Drake only has about a 5% drop rate. If a Drake mount drops it will not be rolled for.

Onyxia's Lair

The Onyxian Drake is an extremely fast (310%) flying mount that drops from Onyxia. The drop rate is incredibly low.

Storm Peaks

The Time-Lost Proto Drake is a rare flying mount that drops from Time-Lost Proto Drake which patrols the Storm Peaks zone of Northrend. The drop rate is 100%, but the spawn rate of this mob is very low.

Other Drake mounts

Reputation

Players who have gained Exalted status with The Wyrmrest Accord (based in Northrend) can purchase the Red Drake from Cielstrasza <Wyrmrest Accord Quartermaster>.

Players who have gained Exalted status with Netherwing in Outland may get a Netherwing drake mount.

Achievement

Albino Drake is a flying mount rewarded from the Leading the Cavalry achievement.