VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 12, 2011) - ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) ("ValGold" or the "Company") is pleased to report that, subject to regulatory approval, it will carry out a non-brokered private placement of 6,500,000 common shares (the "Shares") at a price of $0.27 per Share for gross proceeds of $1,755,000 (the "Offering"). The closing date of the Offering is expected to be on or about April 18^th, 2011.

ValGold may pay finders' fees in respect of the Offering consisting of cash fees of up to 5% of the gross proceeds raised from Offering. Finders may also receive Finder warrants (the "Finder Warrants") entitling them to purchase that number of common shares which is equal to 5% of the number of Shares sold in the Offering. The Finder Warrants will expire eighteen months after the closing of the Offering. ValGold common shares are listed on the TSX Venture Exchange under the symbol VAL. The securities issued in connection with the Offering will be subject to a four month hold or restricted period in Canada commencing on the closing date.

The net proceeds of the Offering shall be used for the maintenance of ValGold's exploration properties and for general working capital.

Closing of this Offering and any payment of finders' fees are subject to the acceptance of the TSX Venture Exchange.

ValGold is pleased to also report that subject to the approval of the regulators it has sufficient expressions of interest to satisfy the private placement. As such, the Company intends to close the offering as soon as possible.

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

Stephen J. Wilkinson, President and Chief Executive Officer

This news release includes "forward-looking information". All statements in this release that address the private placement forward-looking information and are based on a number of assumptions, including, but not limited to, that regulatory approval for the private placement will be obtained and that there will not be substantial changes to market conditions or regulatory requirements. Although the Company believes the expectations expressed in such forward-looking information 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 information. Factors that could cause actual results to differ materially from those in forward-looking information include changes the price of the company's shares and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.

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