ValGold Resources Ltd.

ValGold Resources Ltd.

April 12, 2007 09:30 ET

ValGold Resources Amends the Terms of the Previously Announced Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 12, 2007) - ValGold Resources Ltd. (TSX VENTURE:VAL) ("ValGold") reports that it is amending the previously announced terms of its proposed $2 million non-brokered private placement (the "Offering") of Units priced at $0.26 each. Each Unit is comprised of one common share of ValGold and one-half of a share purchase warrant (a "Warrant"). Each whole share purchase warrant will entitle 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 $0.40 per share for the first 12 months from the date of issue of the Warrant and thereafter at an exercise price of $0.50 per share for the remaining 12-month period.

The size of the Offering has been increased to 11,600,000 Units for gross proceeds of approximately $3 million. The purchase price of the Units remains at $0.26 each. All other terms of the Offering, including the terms of the Warrants, remain unchanged. The Offering is subject to regulatory approval, and is scheduled to close on April 16, 2007.

Proceeds from the non-brokered private placement will be used to advance the Company's exploration programs in Guyana and Venezuela, and for general working capital.

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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