Valgold Resources ltd.

Published : May 28th, 2008

for our Shareholder's and Supporters

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Tuesday, May 27, 2008 www.valgold.com
Ticker Symbol: VAL - TSX Venture Exchange
SEC 12g3-2(b) exemption 82-3339

An Update For Our Shareholders And Supporters


Vancouver, BC -- May 27, 2008. We have witnessed some very difficult market conditions since August of last year. Price volatility continues to be a serious issue for public companies, both small and large cap, and most recently for both precious and base metals. The circumstances surrounding these trying market conditions are unique, driven by global forces in large part related to the U.S. financial crisis and its impact on the western world's banking and investment industry. These conditions have been manifest in the erosion of ValGold's share price.

It is important for our shareholders to fully understand that ValGold's current share performance in no way reflects our exceptional exploration successes or what we believe to be our Company's underlying value. The pressure on ValGold's share price should not detract from the fact that ValGold has demonstrated a superior degree of effectiveness when it comes to searching for, discovering and defining mineral deposits of economic significance.

Since last August, when the U.S. financial crisis began to take its toll on our markets, ValGold's geologists and field personnel have delivered repeated positive results in each of our major project areas.

In Guyana, our work programs have resulted in significant discoveries for gold, platinum group metals, and uranium. Our gold discoveries have been mainly concentrated in our 100% owned 42-kilometer long Whana Gold Belt. We are now mobilizing the crews and the equipment for this season's work program. We intend to focus our efforts on the west end of the Whana belt where our Reiss gold occurrence is defined by a six kilometer long soil anomaly within which we have found up to 5 zones of high grade anomalies. Our geologists plan to drill several holes into these high grade gold areas to find the sources of the gold that has been small-scale mined by Guyanese locals for several decades.

The recent announcement of our new platinum occurrence in the Masawaki area in Guyana created positive interest from a number of other exploration companies. The platinum soil anomalies occur in at least five, parallel, northwest/southeast striking belts and range in width from about 100m to 300m. These belts are almost equally spaced across a 6,000m strike length. Nickel and chromium anomalies are concentrated mostly in a single belt with a maximum width of roughly 850m and correlate with palladium and gold. Several other elements are anomalous in the Masawaki soils including Cu, Co, Fe, Cr and Ti. We believe that these results are indicative of a significant exploration target that could have a major influence on ValGold's fortunes. We continue to receive more results from our exploration work in Guyana and anticipate even more positive and value-building news from this huge project.

Across the border in Venezuela, we concluded a 35-hole drill program on our 100% owned Increible 3 concession, with the last and deepest hole returning an impressive 13.67 G/Tonne gold over 3m to confirm the deep continuity of the Los Patos discovery. Just a few weeks ago we announced the significant Indicated Resources defined by that drilling. This gold target is called the Los Chivos Shear Zone and it holds the potential for a world class gold deposit for which our initial discovery is merely a precursor! It is unfortunate that political volatility has for the time-being devalued this excellent occurrence that otherwise would be an important driver of value for our shares. Even though we have suspended our work for the near term, we believe that the Los Chivos Shear Zones are worth waiting for and will benefit us in the future.

With the completion of the NI 43-101 compliant resource on the Garrison Gold Project in the Timmins, Canada belt we now have independent reports on of each of ValGold's major projects. Our total gold resources stand at approximately 400,000 ounces Inferred and 168,000 ounces Indicated. It is our belief that with such gold resources our market capitalization stands well below industry standards for gold explorers. In addition, we anticipate adding significantly to these resources with continued successes drilling on identified targets associated with them. We believe that there is the potential for multi-million ounce occurrences at each of the Garrison and Increible projects.

Overall, we are convinced that ValGold is a company with impressive prospects and potential that stands at the forefront of its peer group. Its portfolio of projects ranges from blue sky properties in newly discovered Guyanese occurrences to advanced development projects such as Garrison. We have mitigated the traditional exploration risks by acquiring a portfolio of properties located in varied locations.

We have maintained our website at www.valgold.com, with more detailed information than we have presented to you here and we encourage you to visit at your leisure. In addition, we are always at your disposal to speak with you directly and are happy to talk to any and all shareholders or other investors who have questions or comments. Please feel free to call me or Jeff Stuart at Investor Relations, 604 687 4622.

Sincerely yours and on behalf of our dedicated staff and Directors,

Stephen J. Wilkinson
President & Chief Executive Officer


For further information please contact:
Jeff Stuart, Investor & Corporate Communications
Tel: (604) 687-4622 Fax: (604) 687-4212
Email: jstuart@valgold.com or info@valgold.com

No regulatory authority has approved or disapproved the information contained in this news release.



 
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
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

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.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
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
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (VAL.V)OTHER OTC (VALGF)
0.125+0.00%0.100+11.11%
TSX-V
CA$ 0.125
07/30 16:33 -
0%
Prev close Open
0.125 0.125
Low High
0.120 0.125
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.125 -%
Volume 1 month var.
63,400 -%
24hGold TrendPower© : -21
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.82+1.69%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.22+1.63%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.55+2.59%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.48-1.59%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.84-1.31%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19-7.32%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.85-2.63%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.83+0.78%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :