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Lexam VG Gold Inc.
TSX:	LEX
OTCQX:	LEXVF
FRANKFURT:	VN3A

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January 4, 2012
Lexam VG Gold Announces Management Changes
TORONTO, CANADA--(Marketwire - Jan. 4, 2012) - Lexam VG Gold Inc. (TSX:LEX)(OTCQX:LEXVF)(FRANKFURT:VN3A) (the "Company") announces that it has received and accepted the resignation of Mr. Thomas Meredith from the position of President and Chief Executive Officer of the Company. Mr. Meredith will continue as a director of the Company until the next annual meeting of shareholders. The board and management will oversee the day-to-day management of the Company until such time as a successor is named. The board wishes to thank Mr. Meredith for his long-time service to the Company and wishes him all the best in his pursuit of new endeavours. About Lexam VG Gold Lexam VG Gold explores for gold in the Timmins area of northern Ontario, Canada. Lexam VG Gold was formed on January 1, 2011 by the merger of Lexam Explorations Inc. and VG Gold Corp., resulting in a well-funded exploration company that is 27% owned by Chairman Rob McEwen. The company is carrying out an exploration program with several drills operating, designed to build the resource base and to test the potential on its four key property assets: Buffalo Ankerite (100% interest), Fuller (100% interest), Davidson Tisdale (68.5% interest) and Paymaster (60% interest). Lexam VG Gold had $10.3 million in cash as of September 30, 2011, with no bank debt. The company has 225,545,265 issued and outstanding shares. LEXAM VG GOLD.....WE ARE GOLD! To learn more about Lexam VG Gold (TSX:LEX), visit our website: www.lexamvggold.com. The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Lexam VG Gold Inc.
Ms. Ha Tran
Chief Financial Officer
647 258 0395 x 190
www.lexamvggold.com

INDUSTRY: Manufacturing and Production - Mining and Metals

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Lexam VG Gold Inc.

	EXPLORATION STAGE
	CODE : LEX.TO

	CUSIP : 918216 10 2

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Lexam VG Gold is a gold exploration company based in Canada.

Lexam VG Gold holds various exploration projects in Canada.

Its main exploration properties are TIMMINS GOLD, DAVIDSON-TISDALE, FULLER, PAYMASTER and BUFFALO ANKENITE in Canada.

Lexam VG Gold is listed in Canada and in Germany. Its market capitalisation is CA$ 49.8 millions as of today (€ 45.7 millions).

Its stock quote reached its lowest recent point on February 08, 2002 at CA$ 0.01, and its highest recent level on January 07, 2011 at CA$ 1.52.

Lexam VG Gold has 226 570 860 shares outstanding.

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Lexam VG Gold Inc.

Lexam VG Gold Announces Management Changes

Lexam VG Gold Inc.