ValGold Resources Ltd.

ValGold Resources Ltd.

June 13, 2007 09:30 ET

ValGold Adds to its Recent Gold Discovery With Bonanza-Grades in New Zone on Increible 3 Concession Near El Callao

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2007) - ValGold Resources Ltd. ("ValGold") (TSX VENTURE:VAL) is pleased to announce that it has completed an initial round of drilling on three satellite gold zones; Los Patos South, Los Patos Central and Quartz Hill. The zones are all located south of the main Los Patos gold occurrence on Increible Concession No. 3 in the El Callao Mining District, Bolivar State, Venezuela.

A total of seven holes were completed on the satellite zones for a total of 1,347 meters ("m") of core. The results of three of these diamond drill holes have been received and compiled all of which are for the Los Patos South occurrence.

ValGold is also pleased to announce that each of the holes on Los Patos South intersected well mineralized gold veins and zones. Furthermore, like the main zone located 900 m to northwest, drill hole LI307-14 intersected Los Patos South with a wide interval of high-grade gold that assayed 6.96 grams of gold per tonne ("g/tonne") over 11.0 m (0.20 ounces of gold per ton "oz/ton" over 36.09 ft) and included a one meter interval grading 59.99 g/tonne (3.28 ft grading 1.75 oz/ton) gold. Highlights from the results of Los Patos South drilling include:

Drill Hole Gold Zone From To Metres Feet Gold Gold (1)
(m) (m) (g/tonne) (oz/ton)

LI307-13 (2) Patos South 127.00 128.00 1.00 3.28 21.79 0.64

LI307-14 Patos South 70.00 71.00 1.00 3.28 16.36 0.48
189.00 200.00 11.00 36.09 6.96 0.20
including 199.00 200.00 1.00 3.28 59.99 1.75

LI307-15 Patos South 191.00 193.00 2.00 6.56 4.16 0.12
(1) 1.0 oz/ton equals 34.286 g/tonne
(2) Hole stopped short of main Los Patos South zone

The principal zones of gold mineralization within Increible Concession No. 3 are associated with the Los Chivos Shear Zone ("LCSZ"). The LCSZ is a major east-west trending structure that hosts the Los Patos gold occurrences. The central part of the concession has been mapped over a strike length of 6,700 m and is associated with a series of gold soil anomalies. The major anomalous areas within the eastern part of the LCSZ are Los Patos Main, Los Patos Central and Los Patos South.

The LCSZ gold mineralization occurs in a variety of structural settings in both mafic and sedimentary rocks. Styles of gold mineralization vary greatly. At the Los Patos main occurrence, the mineralization occurs within highly-foliated basaltic volcanic units that contain auriferious quartz carbonate veins. In contrast, the mineralization found at Los Patos Central, Quartz Hill and Los Patos South is hosted by metasedimentary rocks within zones of shearing associated with gold in quartz and carbonate veining containing minor amounts of pyrite and tourmaline. Other alteration minerals include chlorite, sericite, albite, muscovite, epidote and potassium feldspar.

The plan below shows the relative locations of the gold zones as represented by the gold anomalies together with the drill holes completed by Gold Fields Ltd. and the drill holes recently completed by ValGold. To date, ValGold has completed drill holes LI307-01 to 24 and is progressing well on LI307-25. It is planned to have a total of approximately 6,800 m of core for this first stage of drilling in the Los Patos area of Increible Concession 3.

To view the plan accompanying this press release please click on:

Mr. Tom Pollock, P.Geo., ValGold's Vice-President, Exploration, is the Qualified Person for the project, and is responsible for all of the technical reporting in compliance with NI 43-101. Mr. Pollock has instituted and is responsible for ValGold's program of Quality Control and Assurance ("QC/QA"), using assay control samples and duplicates.

For more information on ValGold and its portfolio of international projects, visit our website at

Stephen J. Wilkinson, President & Chief Executive Officer

The following table reports assay sample intervals averaging 1.0 g/tonne Au or greater for drill holes recently completed at Los Patos South Gold occurrence, Increible Concession No. 3, Venezuela. Reported widths of the drill intersections are the sampled length of drill core and may be less than the true thickness of the gold zones. All drill intersections for this release grading greater than 1.0 g/tonne Au for the announced holes and the locations of the collar sites together with drill sections, geology and location maps will be made available soon within the Venezuela section of ValGold's website.

Drill Hole Gold Zone From To Metres Feet Gold Gold
(m) (m) (g/tonne) (oz/ton)

LI307-13 (1) 30.00 31.00 1.00 3.28 1.03 0.03
91.00 92.00 1.00 3.28 1.41 0.04
Patos South 127.00 128.00 1.00 3.28 21.79 0.64
134.00 135.00 1.00 3.28 1.29 0.04

LI307-14 70.00 71.00 1.00 3.28 16.36 0.48
87.00 88.00 1.00 3.28 5.98 0.17
112.00 113.00 1.00 3.28 5.76 0.17
146.00 147.00 1.00 3.28 1.39 0.04
Patos South 189.00 200.00 11.00 36.09 6.96 0.20
including 199.00 200.00 1.00 3.28 59.99 1.75

LI307-15 50.00 51.00 1.00 3.28 3.14 0.09
92.00 93.00 1.00 3.28 1.04 0.03
Patos South 191.00 193.00 2.00 6.56 4.16 0.12

(1) - Hole LI307-13 stopped short of the main Patos South zone

SEC 12g3-2(b) exemption 82-3339

No regulatory authority has approved or disapproved the information contained in this news release.

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