ValGold Resources Ltd.
TSX VENTURE : VAL
FRANKFURT : VR2

ValGold Resources Ltd.

November 26, 2007 09:30 ET

ValGold Intersects 58.20 g/Tonne/1.5 Meters at Tower Mountain Gold Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - ValGold Resources Ltd. ("ValGold" or the "Company") (TSX VENTURE:VAL)(FRANKFURT:VR2) is pleased to announce that it has completed the 2007 diamond drill program at its 100%-owned Tower Mountain Gold Property (the "Property") located 40 kilometers ("km") west of Thunder Bay, Ontario. Drilling on the Property started on July 24 and was finished on August 9, 2007, producing 2,090 meters ("m") of core in eight holes, TM-07-51 to -07-58.

The 2007 drill program was highly successful with gold mineralization intersected in each of the eight holes. Intersections of high-grade gold occurred in TM-07-56 where 1.5m graded 58.20 g/Tonne Au (1.697 oz/t gold) and in TM-07-58 where 1.5m averaged 18.70 g/Tonne Au (0.545 oz/t gold). The targets for the drill program included confirmatory drilling on earlier gold intersections in the 04-36 zone, testing of geophysical targets associated with extensions of the U-V zone and testing depth extensions of trench and other surface gold occurrences in the C-D and L zones. Highlights of the current drill intersections include:



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From To Width(1) Width Gold Gold
Drill Hole Zone (m) (m) (m) (ft) g/Tonne oz/t
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TM-07-55 L 113.0 115.0 1.5 4.9 4.97 0.145
245.0 258.5 13.5 44.3 0.73 0.021

TM-07-56 C-D 66.5 68.0 1.5 4.9 58.20 1.697
350.0 371.0 21.0 68.9 0.57 0.017
380.0 401.0 21.0 68.9 0.59 0.017

TM-07-58 E-F 80.0 81.5 1.5 4.9 18.70 0.545
93.5 99.5 6.0 19.7 5.42 0.158
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Note(1) - Width of the intersection may not be the true thickness
of the intersection


Tower Mountain Gold Property Summary

Exploration work by ValGold on the Property began in November 2002 and has focused on diamond drilling. A total of eight drill programs comprising 75 drill holes, totaling 18,708m, have been completed to date. The majority of drilling has been in the vicinity of the U and V Trench areas (U-V Zone) and this work has defined several parallel, mineralized structures striking in a southeasterly direction. The most continuous of these structures is designated the Main Vein which dips moderately to steeply to the northeast and can be traced along strike for a minimum 400m. Examination of Main Vein core indicates the presence of a gold mineralized zone measuring 0.6m to 20.0m true width plunging steeply to the southeast. Intercepts from this zone returned assays ranging from 160.0 g/t Au over 1.5m in drill hole TM04-6 to 2.40 g/t Au over 61.5.5m in TM04-9. The Main Vein mineralization generally consists of a halo of moderately to highly anomalous gold values in the footwall and hanging wall extending a few metres to tens of metres beyond the vein.

Drilling has delineated additional zones of high-grade mineralization, however limited information is available on these targets. The 04-31 Zone, located 800m southeast of the U-V Zone, appears similar to the U-V Main Vein. It is proximal to the Tower Mountain Intrusive Complex ("TMIC") contact and hosts at least one main mineralized structure bounded by several metres of wall rock registering strongly anomalous gold values. This zone strikes similarly to the U-V Main Vein, however its dip is currently unknown due to limited drilling. ValGold has tested this target with two holes with the best drill intercept returning 21.14 g/t Au over 1.5m. A hole drilled in 1996 by Avalon Ventures Limited in the vicinity of the 04-31 Zone was orientated sub-parallel to the zone and returned an average grade of approximately 0.3 g/t Au over 739m. The 04-31 and U-V Zones are hosted within felsic to intermediate Timiskaming volcanic fragmental rocks and appear to be controlled by a series of southeast striking structures related to the contact zone with the TMIC. It is not known whether these mineralized zones continue into the syenite and other intrusive rocks comprising the TMIC.

The third high-grade zone identified in current drilling is referred to as the 04-36 Zone and is located 400m southwest of the U-V Zone. Unlike the U-V and 04-31 Zones, the 04-36 strikes north-northeast and appears to be associated with a package of mixed Timiskaming volcanics and sediments identified approximately 600m west of the TMIC contact. Two drill holes intersected this zone and core analysis indicates the zone strikes roughly parallel to the northeast trending belt of Timiskaming rocks in the area. One hole documented 41.35 g/t Au over 1.5m and the second hole returned an assay of 5.31 g/t over 1.5m.

The following table summarizes the drill programs and presents highlights of each of the seven drilling campaigns conducted by ValGold.



Highlights of Tower Mountain Gold Zones Drill Intersections
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Holes Total Best High-Grade Gold Best Low-Grade
Program Drilled Meters Intersection Gold Intersection
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2002 5 1,042 23.17g/Tonne /1.5m in TM02-02 1.05g/Tonne /
(Fall) 73.5m in TM02-03
2003 5 1,085 11.77g/Tonne /3.0m in TM03-02 1.01g/Tonne /
(Spring) 22.5m in TM03-03
2003 12 1,499 19.76g/Tonne /1.5m in TM03-11 0.62g/Tonne /
(Fall) 12.0m in TM03-12
2004 10 2,601 160.0g/Tonne /1.5m in TM04-06 2.40g/Tonne /
(Winter) 61.5m in TM04-09
2004 23 3,450 68.91g/Tonne /0.2m in TM04-19 1.93g/Tonne /
(Summer) 37.5m in TM04-15
2004 36 3,418 41.35g/Tonne /1.5m in TM04-36 0.94g/Tonne /
(Fall) 106.5m in TM04-31
2005 50 3,523 16.00g/Tonne /1.5m in TM05-38 0.77g/Tonne /
(Winter) 21.0m in TM05-44
2007 8 2,090 58.20g/Tonne/1.5m in TM-07-56 0.59g/Tonne/
(Summer) 21.0m in TM-07-56
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Total 67 18,708
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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. All sampled core was split in a secure facility in Ontario and delivered to the laboratory by a Company representative. The balance of the split core is stored at a secure site at the Property.

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 following table reports assay sample intervals averaging 0.3 g/Tonne Au or greater for drill holes recently completed at the Tower Mountain Gold Project. 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 0.3 g/Tonne Au for the announced holes as shown in the table and the locations of the collar sites together with drill sections, trench geology and sampling maps will be made available soon within the Tower Mountain Gold Project section of the ValGold website. Note: 1 oz/t Au equals 34.286 g/Tonne Au



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From To Width Width Gold Gold
Drill Hole Zone (m) (m) (m) (ft) g/Tonne oz/t
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TM-07-51 04-36 33.5 36.5 3.0 9.8 0.62 0.018
102.5 107.0 4.5 14.8 1.37 0.040
126.5 129.5 3.0 9.8 0.53 0.015

TM-07-52 04-36 75.5 80.0 4.5 14.8 0.71 0.021
86.0 87.5 1.5 4.9 0.90 0.026

TM-07-53 UV 5.0 11.0 6.0 19.7 0.64 0.019
47.0 50.0 3.0 9.8 2.00 0.058
195.5 197.0 1.5 4.9 0.60 0.017

TM-07-54 UV 5.0 8.0 3.0 9.8 1.60 0.047
161.0 162.5 1.5 4.9 1.94 0.057
293.0 294.5 1.5 4.9 0.59 0.017

TM-07-55 L south 47.0 48.5 1.5 4.9 3.84 0.112
66.5 68.0 1.5 4.9 1.04 0.030
72.5 75.5 3.0 9.8 1.66 0.048
86.0 89.0 3.0 9.8 1.08 0.032
113.0 115.0 1.5 4.9 4.97 0.145
245.0 258.5 13.5 44.3 0.73 0.021

TM-07-56 C-D 45.5 50.0 4.5 14.8 1.45 0.042
66.5 68.0 1.5 4.9 58.20 1.697
117.5 120.5 3.0 9.8 1.10 0.032
128.0 129.5 1.5 4.9 0.72 0.021
173.0 174.5 1.5 4.9 0.53 0.015
192.5 194.0 1.5 4.9 0.57 0.017
212.0 213.5 1.5 4.9 0.95 0.028
221.0 222.5 1.5 4.9 1.42 0.041
230.0 231.5 1.5 4.9 0.59 0.017
299.0 303.5 4.5 14.8 0.85 0.025
320.0 321.5 1.5 4.9 0.47 0.014
333.5 335.0 1.5 4.9 0.47 0.014
336.5 339.5 3.0 9.8 0.92 0.027
350.0 371.0 21.0 68.9 0.57 0.017
380.0 401.0 21.0 68.9 0.59 0.017

TM-07-57 C-D 150.5 156.5 6.0 19.7 1.29 0.038
206.0 207.5 1.5 4.9 0.41 0.012
215.0 221.0 6.0 19.7 0.52 0.015
227.0 236.0 9.0 29.5 0.61 0.018
239.0 240.5 1.5 4.9 0.41 0.012
254.0 258.5 4.5 14.8 0.99 0.029
287.0 294.5 7.5 24.6 0.69 0.020
311.0 314.0 3.0 9.8 0.69 0.020
323.0 332.0 9.0 29.5 0.50 0.015
338.0 339.5 1.5 4.9 2.82 0.082

TM-07-58 E-F 80.0 81.5 1.5 4.9 18.70 0.545
93.5 99.5 6.0 19.7 5.42 0.158
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No regulatory authority has approved or disapproved the information contained in this news release.

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