ValGold Resources Ltd.
TSX VENTURE : VAL
FRANKFURT : VR2

ValGold Resources Ltd.

December 13, 2007 12:39 ET

ValGold Completes Non-Brokered Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 13, 2007) - ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) ("ValGold" or the "Company") is pleased to announce that it has completed a non-brokered private placement of units (the "Units") at a price of $0.35 per Unit for gross proceeds of $1.98 million. Each Unit is comprised of one common share of ValGold and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one additional common share of ValGold for a period of 24 months following the issue date of the warrant at an exercise price of $0.60 per share.

Compensation was paid to certain eligible arm's-length parties (the "Finders"), where such Finders arranged for subscribers to the private placement, and was comprised of a cash commission totalling $66,395.00 equal to 7% of the gross proceeds received by the Company from the sale of Units by such Finders, and a total of 271,000 non-transferable options (the "Finder's Options") equal to 10% of the number of Units sold by such Finders. Each Finder's Option is exercisable to acquire a Unit of the Company (the "Finder's Units") at a price of $0.35 per Finder's Unit for a period of 24 months from the date of issuance, subject to adjustment. Each Finder's Unit, upon issue, will be comprised of one common share of the Company (a "Finder's Unit Share") and one-half of one non-transferable common share purchase warrant of the Company (a "Finder's Warrant"). Each whole Finder's Warrant will entitle the Finder, upon exercise, to purchase one additional common share of the Company (a "Finder's Warrant Share") for a period of 24 months from the issuance of the Finder's Option at a price of $0.60 per Finder's Warrant Share.

This private placement closed in two tranches. All securities issued or issuable in connection with the private placement will be subject to a hold period and may not be traded for four months plus one day from the date of each closing, being March 31, 2008, and April 11, 2008, as applicable.

Proceeds from the non-brokered private placement will be used to advance the exploration programs of the optioned mineral properties in Guyana and Venezuela, and for general working capital.

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

Stephen J. Wilkinson, President & Chief Executive Officer

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

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

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