Vangold Resources Ltd.

Vangold Resources Ltd.

January 19, 2007 17:58 ET

Vangold Resources Ltd.: Drilling to Commence at Feni Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 19, 2007) - Vangold Resources Ltd. ("Vangold") (TSX VENTURE:VAN) and New Guinea Gold Corporation ("NGG") report that a 1500 to 2000 metre diamond drill program to test new targets at the Feni Project is expected to commence during the first quarter of 2007.

In a news release dated November 7, 2006, Dr. David Lindley, formerly VP Exploration for Vangold and NGG, recommended drill testing of a 3 sq km area of the Feni gold system which has not yet been drilled. It is planned to mobilize a drill owned by Kanon Resources Ltd. (owned 50% NGG and 50% Vangold) plus ancillary equipment to the island as soon as staff and transportation are available.

The Feni Project is presently owned 50/50 NGG and Vangold with Vangold solely funding exploration to increase its holding to 75%.

The Feni Project lies within the Lihir Corridor which is a structural-volcanic arc extending from Allied Gold's Simberi gold project on Simberi Island through the Lihir Islands to Bougainville Island. Two major ore bodies (in addition to Allied Gold's Simberi project) occur within this arc including the Lihir Mine with approximately 50 million ounces of gold mined and in current resources and the Panguna porphyry copper/gold system on Bougainville Island.

On Behalf of the Board of


Dal Brynelsen, President and CEO

The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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