ValGold Resources Ltd. (VAL-TSX-V) ("ValGold" or the "Company") is pleased to announce that, subject to regulatory approval, it will carry out a small insider and accredited investor non-brokered private placement of up to 6 million units (the "Units") at a price of $0.10 per Unit, for gross proceeds of up to $600,000. Each Unit is comprised of one common share of ValGold and one non-transferable share purchase warrant. Each share purchase warrant will entitle the holder to purchase one additional common share of ValGold for a period of 24 months following the issue date of the warrant at an exercise price of $0.20 per share.

ValGold may issue finders' fees comprising 7% cash and non-transferable warrants (the "Finder's Warrants") equal to 8% of the total number of Units sold in the offering to arms-length subscribers arranged by eligible finders. Each Finder's Warrant will entitle the finder, upon exercise, to purchase one additional common share of the Company (a "Finder's Warrant Share") for a period of 24 months from the issuance of the Finder's Warrant at a price of $0.20 per Finder's Warrant Share.

All shares, warrants and any shares issued upon exercise of warrants and Finder's Warrants with respect to the above private placements are subject to a hold period and may not be traded for four months plus one day from the closing date(s) of the private placement.

Proceeds from the non-brokered private placement will be used to advance the exploration programs of the Company's optioned mineral properties in Guyana, and for general working capital.

For more information on ValGold and its portfolio of international projects, visit our website at www.valgold.com.