ValGold Resources Ltd.

ValGold Resources Ltd.

April 06, 2011 09:30 ET

ValGold Reports on Annual General Meeting; Appointment of Investor Relations Service Provider; Grant of Stock Options and Appointment of New Director and Officers

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 6, 2011) - At the Annual Meeting of the shareholders of ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) (the "Company" or "ValGold") held on Tuesday, April 5, 2011, Sargent Berner, Dr. A. Darryl Drummond, Kenneth Yurichuk, Stephen J. Wilkinson and William J. Witte were re-elected as directors of the Company and PricewaterhouseCoopers LLP were re-appointed as the Company's auditors for the following year. Shareholders also ratified and approved the continuation of the Company's 10% rolling stock option plan, in accordance with the requirements of the TSX Venture Exchange.

Following the Company's Annual General Meeting, Mr. Michael Sadhra was appointed as a director of the Company. Sargent Berner was re-appointed the Company's Chairman of the Board. Stephen Wilkinson was re-appointed as the Company's President and Chief Executive Officer. Ken Yurichuk was appointed as the Company's Chief Financial Officer and Ms. Mary Davies was appointed Corporate Secretary. Messrs. Sadhra, Drummond and Witte were appointed to the Company's Audit Committee, and Messrs. Witte, Berner and Yurichuk were re-appointed to the Corporate Governance and Compensation Committee.

The Company is also pleased to announce that it has retained the services of Cindy Chu to provide investor relations services, including but not limited to development of marketing materials, maintenance of investor data bases, coordination of investor events, attending trade shows, and contacting potential investors. Ms. Chu has no direct or indirect interest in the Company but may acquire such interest in the future. Cindy brings over 15 years experience in the mining and telecommunications industry with an extensive background in communications, sales and finance. She graduated from the University of British Columbia with a Bachelor of Commerce specializing in Marketing. In her most recent roles, Cindy coordinated private investment events, liaised with prospective investors at trade shows and conferences. 

Ms. Chu will provide the services through Quorum Management Services Inc. for which she will act as a consultant to provide investor relations services to the Company. This arrangement is subject to the approval of the TSX Venture Exchange. 

Ms. Chu has been granted a total of 50,000 stock options in relation to her engagement. As outlined above, these options are exercisable at a price of Cdn$0.31 per share on or before April 5, 2016 and, in accordance with TSX Venture Exchange requirements, will vest over a twelve month period, with one-quarter of such options vesting in each three month period. 

The Board granted an aggregate of 565,000 incentive stock options to directors, officers, employees, consultants and advisors to the Company. The options are exercisable at a price of $0.31 per share on or before April 5, 2016.

For more information on ValGold's Canadian gold projects (Tower Mountain and Garrison) and its international projects, please visit our website at

Stephen J. Wilkinson, President & Chief Executive Officer

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

Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic condition or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned to not place undue reliance on this forwardlooking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws.

SEC 12g3-2(b):  82-3339

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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