Q-GOLD RESOURCES LTD.

c/o Mineral Creek Resources Inc.

Bank of America Building

Suite 508, 121 East Birch Avenue

Flagstaff, Arizona 86001

Ph: (928) 779-0166/ Fax: 779-0107

www.QGoldResources.com

Q-GOLD UPDATES OPERATIONS

Vancouver, British Columbia, January 18, 2013 � Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that it has received interpretive results from its ground Controlled Source Audio Frequency Magnetotellurics (�CSAMT�) geophysical survey conducted in the 4^thQuarter 2012 on its extensive conductive VTEM airborne �A� anomaly in the Peck Mining District of Yavapai County, Arizona near Crown King.  Further work on this anomaly (first reported in a press release dated January 12, 2012), was delayed until Fall because of a June 2012 forest fire and ensuing rock slides in the Crown King area that resulted in closure of the National Forest containing the prospect.

Based on survey results, in December, the Company�s Arizona subsidiary, Mineral Creek Resources Inc., filed a Plan of Operations requested by the United States Forest Service in connection with the Company�s application for a drilling permit for six fan holes from two locations on the �A� anomaly. Granting of the permit is anticipated within the next 30-60 days, after review and comments by the Forest Service.

During the 4^th Quarter of 2012,after geologic review, the Company relinquished its option rights to the Tiger Mine complex near Crown King Arizona and two Arizona copper prospects.

In Mine Centre, Ontario, where the Company holds over 10,000 acres of gold and silver prospects, including two historic gold mines, the Foley and the Golden Star, the Company plans to continue delineation drilling of the gold zones in the Foley Mine (see press release dated October 18, 2012).  It also plans to initiate exploratory drilling at the historic Golden Star gold mine complex during 2013.

The Company also announced that it has terminated the Mine Centre Purchase Option/ Joint Venture Agreement with Cadman Resources Inc. (see press release dated July 6, 2012).

About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious metals on its Ontario and Arizona prospects.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.