Valgold Resources ltd.

Published : August 20th, 2007

Exploration Program Update

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Keywords :   Canada | Diamond | Gold | Market | Venezuela |
Monday, August 20, 2007www.valgold.com
Ticker Symbol: VAL - TSX Venture Exchange
SEC 12g3-2(b) exemption 82-3339

Valgold Exploration Program Update

Vancouver, British Columbia - August 20, 2007 - ValGold Resources Ltd. ("ValGold") is pleased to update investors on the progress of our exploration programs in the Americas. To date in 2007, significant work has been done on the Company's existing drill programs in Canada and newly-developed targets in the Guiana Shield.

Guiana Shield of South America:

Venezuela: The Lo Increible drill program was completed in late July and comprised 35 holes for a total accumulated length of 9,318 metres. Mineralized zones averaging as high as 7.25 g/t gold over a true width of 19.0 metres (0.21 o.p.t. / 62.3') have been intersected. Most holes targeted the Los Patos gold occurrence and, although assays are still pending on several of the deeper holes, results so far indicate the presence of a mineralized body to a depth of 200 meters below surface.

Final preparations are underway to mobilize a Diamond drill to the Mochila Lineament gold occurrence located within the Chicanan West concessions. The minimum 5,000 metre drill program will test several targets hosted by mafic and ultramafic rocks comprising the Mochila Layered Intrusion. At least 15 holes are planned and will focus on faults and lithological contacts where either artisanal mining or gold soil anomalies are present.

Guyana: A small, first pass, drill program was completed on the Erakiri gold occurrence on August 16th. A total of nine holes were drilled for a total accumulated length of 1,331 metres. All of the holes targeted porphyry-volcanic contacts along which placer gold is present.

Besides drilling at Erakiri, three large soil sampling programs have been completed over gold targets in the Whana and Piai areas. Follow-up mapping, sampling and trenching, where possible, is planned over the anomalies.

Ontario Canada:

Garrison: A 43-101 compliant report is currently being written by ACA Howe International on the Garrison gold property located 100 kilometers east of Timmins, Ontario. A resource calculation for the JP Zone will comprise part of the report. Drilling on the property was completed in July and has been ongoing almost continuously since late 2005. During this period a total of 74 holes have been drilled on the property for an accumulated length of 32,012 metres.

Tower Mountain: An eight hole drill program was completed August 9th on the Tower Mountain gold property located 40 kilometres west of Thunder Bay. A total of 2,090 meters were drilled to test mostly extensions to previously discovered zones such as that in 04-36 where 50.0 g/t gold were intersected over a core length of 1.5 metres. Assays for all eight holes are currently pending.

Valgold Resources is committed to generating wealth for our stakeholders and developing important new projects in the Guiana Shield of South America. In 2007, the Company has reported exploration success on our Los Patos properties in Venezuela and will continue to execute our highly focused drill programs throughout in the fall. We are committed to implementing our business plan and we expect to bring news to the market on a continuous basis.

Mr. Tom Pollock, P.Geo., ValGold's Vice-President, Exploration, is the Qualified Person for the project, and is responsible for all of the technical reporting in compliance with NI 43-101. For more information on ValGold and its portfolio of international projects, visit our website at www.valgold.com.


 
Data and Statistics for these countries : Canada | Venezuela | All
Gold and Silver Prices for these countries : Canada | Venezuela | All

Valgold Resources ltd.

EXPLORATION STAGE
CODE : VAL.V
ISIN : CA9191472070
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Valgold Res. is a gold exploration company based in Canada.

Valgold Res. holds various exploration projects in Canada.

Its main exploration properties are TOWER MOUNTAIN, GARRISON and GARRISON - JONPOL / MONETA in Canada.

Valgold Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 4.8 millions as of today (US$ 3.7 millions, € 3.1 millions).

Its stock quote reached its highest recent level on June 06, 1997 at CA$ 9.50, and its lowest recent point on March 04, 2016 at CA$ 0.01.

Valgold Res. has 38 250 407 shares outstanding.

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Financings of Valgold Resources ltd.
5/4/2011Completes Non-Brokered Private Placement Financing
4/28/2011Announces Increase in Non-Brokered Financing
4/13/2011Reports $1.8 Million Non-Brokered Financing
7/25/2008Completes Non-Brokered Private Placement Financing
6/26/2008Announces Non-Brokered Private Placement Financing
Option Grants of Valgold Resources ltd.
4/8/2011(angl) Grant of 50,000 options to IR provider
5/14/2010Grants Stock Options and Reprices Consolidated Options
Nominations of Valgold Resources ltd.
1/16/2015Announces Appointment of New Director and Director Resignati...
6/22/2012Announces New Directors
Project news of Valgold Resources ltd.
1/23/2013(Tower Mountain)Revises Agreement on Tower Mountain Gold Property, Ontario
9/19/2012(Tower Mountain)and Revolver Enter Option Agreement to Advance Tower Mountai...
10/12/2011Releases MBK Project Media Coverage
9/22/2011to Acquire Past Producing Gold-Silver Mine and Surrounding R...
8/16/2011in Negotiations for a Property Acquisition in Central Europe
5/27/2011(Tower Mountain)Commences Phase 2 Drill Program on Tower Mountain Gold Prope...
5/16/2011(Garrison)and Northern Gold Close Garrison Property Sale
5/12/2011(Tower Mountain)Reports Further Assay Results from the Tower Mountain Gold P...
4/8/2011(Tower Mountain)Reports First Results of 2011 Drill Program on the Tower Mou...
4/7/2011(Garrison)Northern Gold and Valgold Announce Agreement to Consolidate ...
3/31/2011(Garrison)Reports Six Additional Drill Holes for Garrison Gold Project...
3/1/2011(Garrison)Reports Strong Wide Intersections At Garrison Gold Project, ...
2/24/2011(Garrison)Reports Metallurgical Tests Indicate High Gold Recoveries fo...
2/22/2011(Garrison)Reports Further Infill Drill Results at Garrison Gold Projec...
3/5/2010(Garrison)Reports Final Results Of 2009 Drilling On Garrison Project, ...
2/23/2010(Garrison)Reports Additional Drill Results For The Garrcon Area, Garri...
1/29/2010(Garrison)& Northern Gold Issue Update on Drilling on Garrison Project...
9/15/2009(Garrison - Jonpol / Moneta)& Northern Gold Sign Option Agreement On Garrison Gold Prope...
8/25/2008(Tower Mountain)Completes Acquisition of Tower Mountain Property
5/21/2008(Garrison - Jonpol / Moneta) Files Technical Report For Its Garrison Gold Property, Onta...
4/8/2008(Garrison - Jonpol / Moneta) Reports Initial Resource Estimate For Its Garrison Gold Pro...
3/19/2008(Los Patos) Receives Positive Initial Gold Mineral Resource Estimate Fo...
Corporate news of Valgold Resources ltd.
1/16/2015ValGold Announces Appointment of New Director and Director R...
12/4/2014ValGold closes secured convertible financing
11/12/2014ValGold Arranges Non-Brokered Secured Convertible Financing
7/24/2013Announces Annual General & Special Meeting Results
6/5/2013Provides Update And Announces Advance Notice Policy
9/24/2012Grants Stock Options
8/7/2012has Relocated!
1/26/2012Raises Funds for Ukraine Venture from Partial Disposal of No...
11/30/2011Launches its New Corporate Website
7/25/2011(Tower Mountain)Announces Additional Positive Drill Results from the Tower M...
6/22/2011(Tower Mountain)Announces Further Positive Drill Results from the Tower Moun...
4/8/2011Reports On Annual General Meeting; Appointment Of Investor R...
4/22/2010Shareholder Update April 2010
4/13/2010Completes Oversubscribed Financing
3/3/2010Completes Restructuring And Subscription Receipts Offering
2/4/2010Reports On Annual And Special Meeting
1/28/2009Status Report
1/7/2009Default Status Report
5/28/2008for our Shareholder's and Supporters
3/31/2008Defines Gold Targets In NW Guyana
3/17/2008 Discovers New Copper/Nickel/Platinum/Palladium Target In Gu...
1/9/2008 Hiring
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