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At the Annual Meeting of the shareholders of ValGold
Resources Ltd. (the "Company" or "ValGold")
held on Tuesday, April 5, 2011, Sargent Berner, Dr. A. Darryl Drummond, Kenneth Yurichuk, Stephen J. Wilkinson and William J. Witte were
re-elected as directors of the Company and PricewaterhouseCoopers LLP were
re-appointed as the Company's auditors for the following year. Shareholders
also ratified and approved the continuation of the Company's 10% rolling
stock option plan, in accordance with the requirements of the TSX Venture
Exchange.
Following the Company's Annual General Meeting, Mr. Michael Sadhra was appointed as a director of the Company. Sargent Berner was re-appointed
the Company's Chairman of the Board. Stephen Wilkinson was re-appointed as
the Company's President and Chief Executive Officer. Ken Yurichuk
was appointed as the Company's Chief Financial Officer and Ms. Mary Davies
was appointed Corporate Secretary. Messrs. Sadhra,
Drummond and Witte were appointed to the Company's Audit Committee, and
Messrs. Witte, Berner and Yurichuk
were re-appointed to the Corporate Governance and Compensation Committee.
The Company is also pleased to announce that it has retained the services of
Cindy Chu to provide investor relations services, including but not limited
to development of marketing materials, maintenance of investor data bases,
coordination of investor events, attending trade shows, and contacting
potential investors. Ms. Chu has no direct or indirect interest in the
Company but may acquire such interest in the future. Cindy brings over 15
years experience in the mining and telecommunications industry with an
extensive background in communications, sales and finance. She graduated from
the University of British Columbia with a Bachelor of Commerce specializing
in Marketing. In her most recent roles, Cindy coordinated private investment
events, liaised with prospective investors at trade shows and conferences.
Ms. Chu will provide the services through Quorum Management Services Inc. for
which she will act as a consultant to provide investor relations services to
the Company. This arrangement is subject to the approval of the TSX Venture
Exchange.
Ms. Chu has been granted a total of 50,000 stock options in relation to her
engagement. As outlined above, these options are exercisable at a price of
Cdn$0.31 per share on or before April 5, 2016 and, in accordance with TSX
Venture Exchange requirements, will vest over a twelve month period, with
one-quarter of such options vesting in each three month period.
The Board granted an aggregate of 565,000 incentive stock options to
directors, officers, employees, consultants and advisors to the Company. The
options are exercisable at a price of $0.31 per share on or before April 5,
2016.
For more information on ValGold's Canadian gold
projects (Tower Mountain and Garrison) and its international projects, please
visit our website at www.valgold.com.
Stephen J.
Wilkinson
President & Chief Executive Officer
Cindy Chu
Investor Relations
ValGold Resources Ltd.
Tel: (604) 687-4622 Fax: (604) 687-4212
Email: info@valgold.com
No
regulatory authority has approved or disapproved the information contained in
this news release.
Caution concerning
forward-looking statements: The information in this release may contain
forward-looking information under applicable securities laws. This
forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause actual results to differ materially from
those implied in the forward-looking information. Factors that may cause
actual results to vary include, but are not limited to, inaccurate
assumptions concerning the exploration for and development of mineral
deposits, political instability, currency fluctuations, unanticipated
operational or technical difficulties, changes in laws or regulations, the
risks of obtaining necessary licenses and permits, changes in general economic
condition or conditions in the financial markets and the inability to raise
additional financing. Readers are cautioned to not place undue reliance on
this forwardlooking information. The Company does
not assume the obligation to revise or update this forward-looking
information after the date of this release or to revise such information to
reflect the occurrence of future unanticipated events except as may be
required under applicable securities laws. The TSX Venture Exchange does not
accept responsibility for the adequacy or accuracy of this release.