ValGold Resources Ltd.

ValGold Resources Ltd.

September 12, 2007 10:35 ET

ValGold Mobilizes Diamond Drill to Mochila Gold Occurrence

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 12, 2007) - ValGold Resources Ltd. ("ValGold") (TSX VENTURE:VAL) announces that a diamond drill has been mobilized to begin testing the Mochila gold occurrence. The Mochila gold occurrence is considered to be ValGold's primary gold target in Venezuela with the most widespread gold in soil anomalies and with a highly favourable geological setting. The occurrence is located within the Chicanan West Concessions (the "Property") approximately 50 kilometres ("km") northwest of the Kilometre 88 gold camp in Bolivar State, Venezuela. The program plans for a minimum 5,000 metre ("m") of coring in 15 to 20 holes.

The Property consists of 11 mining concessions that cover an area of approximately 522 km2 within a greenstone belt that is known to be highly prospective for gold. The Brisas (Gold Reserve) and Las Cristinas (Crystallex International Corp.) deposits occur in the same belt and are reported to host a combined gold resource estimated at 31 million ounces. The eastern boundary of the Property is accessible by a secondary road that connects with the Grand Sabana Highway from Kilometre 33. The Grand Sabana is a two-lane, paved highway that services eastern Bolivar State and continues on to the border crossing into Brazil, some 345 km south of the town of Tumeremo. For mobilization of the drill and the associated bulk material, ValGold has utilized a barge and river boats to access the central part of the Property.

The Chicanan area occurs within the Guiana Shield. Proterozoic-age mafic to intermediate intrusive to metavolcanic rocks are intercalated with minor epiclastic sedimentary rocks and commonly are the host rocks for lode-style gold mineralization. Regionally, these greenstone units have been folded and faulted to form an asymmetrical synclinorium. The synclinorium is limited to the west by the Chicanan Shear Zone. West of the Shear Zone, rhythmically layered ultramafic to mafic intrusive bodies belonging to the Mochila Layered Complex intrude the greenstones. The Complex contains gold, base metals and other precious metal occurrences that have been identified within specific layers in the mafic intrusive rocks and associated with shearing that crosscuts the original layering. The Complex is estimated to be up to 2,500m thick and is comprised of upper and lower ultramafic units separated by a middle gabbro unit. In the area of the Mochila gold occurrences, the Complex has been folded, faulted and intruded by feldspar and/or quartz porphyry dykes and sills.

The Mochila gold occurrence is represented by an area of broad gold soil anomalies covering about 10 km2 and by the northward distribution of artisanal workings that occur over a 14 km strike length The occurrence combines structural complexity with a wide variety of potential host rocks. The mineralization targeted appears to be bi-modal in style of its occurrence. Gold occurs enriched along the contacts of specific layers or units within the Mochila Layered Complex and is also associated with the north-trending Mochila lineament.

The drill program will test several of the coincident soil and lithological targets. More particularly, the gold in soil anomalies to be tested lie along the upper contact of the middle gabbro unit of the layered complex and along a regional structure, referred to as the Mochila Lineament, which is coincident with the fold's axial plane. The base of the Complex is also considered prospective where it is in contact with the greenstone belt rocks.

The drill is expected to be coring on or about September 15th. This initial round of drilling may be completed over the next 8 to 10 weeks.

ValGold is listed on the TSX Venture Exchange under the trading symbol: VAL. For further information on ValGold and its portfolio of international projects, visit our website at

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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