ValGold Resources Ltd.
TSX VENTURE : VAL
FRANKFURT : VR2

ValGold Resources Ltd.

November 21, 2007 11:17 ET

ValGold Commences Resource Estimation on Los Patos Gold Discovery in Bolivar State, Venezuela

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 21, 2007) - ValGold Resources Ltd. ("ValGold" or the "Company") (TSX VENTURE:VAL)(FRANKFURT:VR2) reports that it has received the initial check assays as the first step in completing a NI 43-101 compliant resource estimation for the Los Patos gold discovery. The check assays were undertaken on drill core samples of intersections of the main gold zone of Los Patos from the first 13 of 28 diamond drill holes. The assays were performed at SGS Minerals Services in Lakefield, Ontario and are summarized in the table attached to the end of this report.

The Los Patos is the main gold occurrence discovered to date, situated within ValGold's Increible concessions located in the El Callao Mining District. The Increible concessions - 1, 3 and 5 cover an area totaling approximately 150 km2 and contain several gold occurrences, most of which have seen minimal past exploration work. The Los Patos occurrence is hosted within highly sheared volcanic rocks along the Los Chivos Shear Zone, a major regional structure that has been traced across the entire breadth of the Company's Increible 3 concession for a distance of 6.7km.

During the summer of 2007, ValGold drilled 35 core holes on the Los Patos occurrence and its satellite zones. The drilling outlined a mineralized zone having a minimum strike length of 160 metres ("m") traceable down plunge for 280m. The average true width of the Los Patos zone is estimated to be in the order of 19.5m (64 ft). The Los Patos mineralization appears to be continuous from surface downwards and remains open in all directions. A second drill program is planned for 2008 to expand the Los Patos mineralization and to drill test the other gold occurrences along the Los Chivos Shear Zone.

The check assays are highly encouraging. The results show good agreement with the original assays with an overall average absolute variance of less than 10% over a range of -22.8% up to +54.0%. The samples for check assays from the remaining holes are being prepared and shipped with the expectation of results early in 2008.

Micon International has been retained to carry out a NI 43-101 compliant resource calculation for the Los Patos gold occurrence. This work has commenced with a Micon engineer and ValGold management currently on-site.

Mr. Tom Pollock, P.Geo., ValGold's Vice-President, Exploration, is the Qualified Person for the projects, 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 further information on this major acquisition, our Company and its portfolio of international exploration projects and joint ventures, visit our website at www.valgold.com.

Stephen J. Wilkinson, President & Chief Executive Officer

This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's filings that are available at www.sedar.com or the Company's website at www.valgold.com.

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



The principal intersections for the first 13 diamond drill holes for the
main Los Patos gold zone with the check assay results from SGS.

(1) Note that 1 oz/t equals 34.286 g/Tonne.
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SGS
Drill Gold Gold Check Assays
Hole Gold From To Metres Feet g/ oz/t g/ %
LI307- Zone (m) (m) (m) (ft) Tonne (1) Tonne diff.
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01 Los Patos 87.0 113.0 26.0 85.30 1.14 0.03 1.18 +3.5
including 89.0 90.0 1.0 3.28 12.83 0.37 13.70 +6.8
02 Los Patos 109.0 146.0 37.0 121.39 0.83 0.02 0.80 -3.6
including 109.0 127.0 18.0 59.06 1.15 0.03 1.03 -10.4
and 123.0 124.0 1.0 3.28 11.32 0.33 10.7 -5.5
and 137.0 146.0 9.0 29.53 1.10 0.03 1.17 +6.4
03 Los Patos 133.0 190.0 57.0 187.01 1.34 0.04 1.13 -15.6
including 133.0 151.0 18.0 59.06 2.18 0.06 2.10 -3.7
and 141.0 142.0 1.0 3.28 6.90 0.20 6.21 -10.0
04 Los Patos 57.0 115.0 58.0 190.29 1.27 0.04 1.17 -7.9
including 57.0 69.0 12.0 39.37 3.13 0.09 3.04 -2.9
and 103.0 107.0 4.0 13.12 3.09 0.09 2.69 -12.9
05 Los Patos 94.0 138.0 44.0 144.36 1.02 0.03 0.9 -11.8
including 122.0 123.0 1.0 3.28 10.63 0.31 8.37 -21.3
and 128.0 131.0 3.0 9.84 3.33 0.10 2.64 -20.7
06 Los Patos 137.5 189.0 51.5 168.96 1.91 0.06 1.99 +4.2
including 139.5 143.0 3.5 11.48 5.30 0.15 5.67 +7.0
and 164.0 168.0 4.0 13.12 5.68 0.17 5.73 +1.0
and 165.0 166.0 1.0 3.28 17.55 0.51 17.50 -0.3
and 169.0 171.0 2.0 6.56 16.44 0.48 18.23 +10.9
and 188.0 189.0 1.0 3.28 6.35 0.19 4.34 -31.7
07 Los Patos 76.0 93.0 17.0 55.77 4.75 0.14 5.67 +19.4
including 76.0 77.0 1.0 3.28 6.86 0.20 9.40 +37.0
and 84.0 86.0 2.0 6.56 23.61 0.69 23.57 -0.2
and 90.0 93.0 3.0 9.84 8.30 0.24 12.72 +53.3
08 Los Patos 119.0 120.0 1.0 3.28 2.99 0.09 3.46 +15.7
09 Los Patos 199.0 219.0 20.0 65.62 7.25 0.21 6.51 -10.2
including 212.0 215.0 3.0 9.84 17.59 0.51 14.07 -20.0
10 Los Patos 172.0 222.0 50.0 164.04 1.95 0.06 1.75 -10.3
including 173.0 176.0 3.0 9.84 7.73 0.23 5.97 -22.8
and 196.0 202.0 6.0 19.68 3.31 0.10 3.43 3.6
and 219.0 220.0 1.0 3.28 15.90 0.46 12.5 -21.4
11 Los Patos 211.0 247.0 36.0 118.11 3.98 0.12 3.7 -7.0
including 218.0 224.0 6.0 19.69 18.42 0.53 16.80 -8.8
and 242.0 243.0 1.0 3.28 10.63 0.31 9.24 -13.1
12 Los Patos 232.0 272.0 40.0 131.23 1.48 0.04 2.14 +44.6
including 232.0 233.0 1.0 3.28 33.57 0.98 43.30 +29.0
20 Los Patos 111.0 145.0 34.0 111.55 2.75 0.08 2.53 -9.8
including 111.0 119.0 8.0 26.25 9.39 0.27 8.64 -8.0
and 111.0 112.0 1.0 3.28 53.97 1.57 45.70 -15.3
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