New Lexam and VG Gold to Trade on TSX and OTCQX Under "LEX" and "LEXVF"

TORONTO, ONTARIO--(Marketwire - Jan. 4, 2011) - Lexam VG Gold (TSX:LEX)(OTCQX:LEXVF) is pleased to announce that the combined companies' shares have begun trading on the Toronto Stock Exchange (TSX) and the OTCQX under the tickers LEX and LEXVF respectively.

The new Lexam VG Gold's transfer agent will now be Computershare Investor Services.

ABOUT LEXAM VG GOLD

Lexam VG Gold has a strategic land position around Goldcorp's Dome Mine, where 17 million ounces of gold have been produced. With the company's strong treasury of $15.0 million and no debt, Lexam VG Gold will spend $10.0 million on exploration over the next twelve months. The company has an attractive valuation compared to its other Timmins peers and has good trading liquidity. Lexam VG Gold shares trade under the Toronto Stock Exchange and OTCQX.

CAUTIONARY STATEMENT

Some of the statements contained in this release are "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: ability to raise financing for further exploration and development activities; risks as to business integration; risks relating to estimates of reserves, deposits and production costs; extraction and development risks; the risk of commodity price fluctuations; political, regulatory and environmental risks; and other risks and uncertainties in the reports and disclosure documents filed by Lexam VG Gold from time-to-time with Canadian securities regulatory authorities. The companies disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.