Q-Gold Resources Ltd.

Q-Gold Resources Ltd.

December 06, 2006 09:37 ET

Q-Gold Resources Ltd. Announces Additional Gold and Silver Grades at Mine Centre

FORT FRANCES, ONTARIO--(CCNMatthews - Dec. 6, 2006) - Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FWB:QX9) announced it has now received assay results for a total of 23 surface trenches from its 2005-2006 trenching and sampling program on the Northwestern extension of the "Jumbo Vein" in the Foley Mine gold/quartz vein complex at Mine Centre in Northwestern Ontario.

The 23 trenches sampled in 2005-2006 (2005 trenching results were reported in a press release dated November 22, 2005) over a total strike-length of 295.8 metres provided weighted average results as follows in grams/ metric tonne (g/t):

Average Grade:
Gold = 3.97 g/t
Silver = 12.17 g/t
Zinc = 0.265% (weight)
Average width = 0.91 metres

Based on trenching results, on surface the Jumbo Vein presents an average gold grade of almost 4 g/t over a strike length of almost 300 metres, making it a high value target for future (underground) exploration.

As part of the Foley Mine, the Jumbo Vein underwent extensive underground exploration in 1893-1900 and 1923-27, including the sinking of a shaft and winze to the 850-foot level. Historical reports and mine level plans available from archives at the Ministry of Northern Development and Mines show drifting of 1,146 feet at the 850 foot level, where the Jumbo Vein had increased in width, in places up to 16 1/2 feet. Due to a financial collapse during the advent of The Great Depression, the Mine was closed in 1927 with no mining having ever occurred on the Jumbo Vein.

The Corporation also has begun the permitting process to open up the presently flooded Foley Mine to permit re-entry and underground exploration of the North Shaft area, where a total of 2.5 kilometres of drifting on seven levels was completed in the 1890's and 1920's. These workings, to a depth of 850-feet, provided access to both the "Bonanza" and the Jumbo Vein.

Q-Gold announced that it has begun line-cutting on several of the highest priority drilling targets indicated by the recently completed Fugro DIGHEM-Airborne Survey, in preparation for follow-up Induced Polarization (IP) ground geophysical surveys. These surveys will further delineate the selected targets prior to the arrival of a drilling rig in February, recently contracted from NorthStar Drilling Ltd.

The Corporation also announced that in a solely cash transaction, it has acquired three additional Mine Centre Leasehold Patents containing high-priority drilling targets on lands adjacent to its current holdings.

Q-Gold's Mine Centre holdings now total 26,940 acres and sit in a wedge of granite/greenstone belt rocks on the southern edge of the Wabigoon Sub-province. The wedge is bounded by two large deep-seated regional faults, the Quetico and the Rainy River - Seine River. The southern Wabigoon area is the subject of extensive mineral exploration for both gold and base metals and includes Rainey River Resources and Metalcorp in addition to Q-Gold.

Richard C. Beard, P.Eng, Consulting Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this press release.

This release may contain forward looking statements implying an assessment that the resources described can be produced profitably in the future. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

SEC 12g 3-2(b) Exemption # 82-4931

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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