Ryan Gold Corp.

Ryan Gold Corp.

December 15, 2010 16:00 ET

Valdez Gold Shareholders Approve Name Change and Share Consolidation in Connection With Proposed Merger With Ryan Gold Inc.

TORONTO, ONTARIO--(Marketwire - Dec. 15, 2010) - Valdez Gold Inc. (TSX VENTURE:VAZ), ("Valdez" or the "Company") is pleased to announce that its shareholders have approved a name change from "Valdez Gold Inc." to "Ryan Gold Corp." and a 3.5 to 1 consolidation of its common shares. The name change and consolidation were conditions precedent to completion of a merger between Valdez and Ryan Gold Inc.

Valdez announced it had entered into a definitive agreement regarding the merger with Ryan Gold Inc. in a press release dated November 22, 2010. Ryan Gold has advised Valdez that its shareholders have approved the merger. Completion of the merger and filing of articles of amendment by Valdez to complete the name change and share consolidation are subject to receipt of final approval from the TSX Venture Exchange, which the Company expects to receive in the next several days. The Valdez shares will continue to trade on a pre-consolidation basis until the consolidation becomes effective.

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans and business trends. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any mineral that may be produced, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitability, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.

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.

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