ValGold Provides Update and Announces Advance Notice Policy

ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) is pleased to provide
the following Company Update. It also announces that its Board of Directors has
approved an Advance Notice Policy (the "Policy") effective on June 3, 2013. The
Policy will be presented for ratification by shareholders at the Company's
Annual and Special General Meeting to be held on July 23, 2013.


COMPANY UPDATE

Throughout the past several months, the general market for resource issuers has
been difficult. Trading volumes and share prices have seen unprecedented
declines for most junior and many senior companies. ValGold, like many of its
peers, has seen its shares decline to about 35% of the 12 month high price. In
addition to impacting shareholders with substantial loss of financial value,
investment funding has all but disappeared, causing many companies to make
elections and choices based upon potential going concern issues.


Management at ValGold has undertaken several initiatives to address the problems
brought on by the market malaise. Firstly, we have recaptured past expenditures
and crystalized gains from our exploration successes at the Garrison gold
property which was sold to Northern Gold Mining Inc. Through that deal, ValGold
secured a substantial working capital and a future cash flow for its
shareholders with which the Company may operate and seek new projects. In
addition, unlike most exploration companies, ValGold has not issued any shares
over the past 24 months while maintaining our mineral projects within Canada. To
preserve capital, ValGold relocated its head office to a smaller, less costly
space where the reduced staff has taken on additional duties such as combining
accounting with corporate communications. Management has also committed to
decreasing its overheads and believes that the next round of costs reduction
could bring down annual overheads by cutting out certain directors' expenses,
addressing management fees and sharing of facilities for greater cost
efficiencies.


Respecting our Tower Mountain Gold Property in northwestern Ontario, ValGold is
advancing through the process of permitting for the 2013-14 work programs. The
focus of the next program will be on expanding the 31-Bench zone mineralization
outlined during the previous drill program. In addition to diamond drilling,
ValGold is planning a re-interpretation of the geophysical data received in
April 2012 to define potential expansion of the known U-V and 31-Bench gold
zones and to complete an updated National Instrument 43-101 compliant report on
the property.


ValGold's management is also committed to pursuing a proactive path where we act
to take advantage of opportunities created by our market conditions. We have the
means to find, evaluate and acquire projects that otherwise would be beyond our
financial capacity. To this end, management has been actively exploring
potential corporate and property transactions. We are confident that ValGold
should be able to make one or more deals for assets that should positively
influence its value and with proper communication to the market, might also win
back an improving share price.


ADVANCE NOTICE POLICY

The Policy includes a requirement for advance notice to be given to the Company
where nominations of persons for election to the Board are made by shareholders
of the Company other than:




i.  nominations made by or at the direction of the Company's board or an
    authorized officer;
ii. pursuant to a requisition of a meeting made pursuant to the provisions
    of the Business Corporations Act (British Columbia) (the "Act"); or 
iii.pursuant to a shareholder proposal made pursuant to the provisions of
    the Act.



The Policy also sets a deadline by which shareholders of record may submit
director nominations to the Company prior to any annual or special meeting of
shareholders. It also defines what information a shareholder must include in the
notice to the Company and the proper written form in which the shareholder must
submit the notice.


For an annual meeting of shareholders, the notice must be made to the Company
not less than 30 days and not more than 65 days prior to the date of the annual
meeting. However, in the event that the annual meeting is to be held on a date
that is less than 50 days after the date on which the first public announcement
of the date of the annual meeting was made, notice may be made not later than
the close of business on the tenth (10th) day following such public
announcement.


In the case of a special meeting of shareholders (which is not also an annual
meeting) notice to the Company must be made not later than the close of business
on the fifteenth (15th) day following the day on which the first public
announcement of the date of the special meeting was made.


The full text of the Policy is available under ValGold's profile on SEDAR at
www.sedar.com.


APPOINTMENT OF OFFICER

The Company also announces the appointment of Rowena Everett as Corporate
Secretary of the Company effective June 3, 2013.


ABOUT VALGOLD

Incorporated in 1987, ValGold is listed on Tier 1 of the TSX Venture Exchange
under the symbol VAL. ValGold is an international mineral development company
based in Vancouver, Canada. The Company's objective is to generate wealth for
its stakeholders by seeking out, acquiring and advancing properties with
recognizable but under-explored mineral resources.


ValGold's commitment is to realize value from significant mineral deposits which
satisfy key criteria - 




--  Mineral rights to extensive areas in prospective but non-traditional and
    under-explored regions. 
--  Mineral exploration projects with potential for substantial development.
--  Projects that require experienced management with exploration, mining
    and financial expertise. 



This news release includes "forward-looking information". All statements in this
release, other than statements of historical facts, that address the private
placement or mineral exploration programs contain forward-looking information
and are based on a number of assumptions, including, but not limited to, that
there will not be substantial changes to market conditions, regulatory
requirements or costs associated with mineral exploration. 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, the costs of labor, equipment and other costs
associated with exploration, exploration successes, 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 actual results or developments may differ materially from those
projected in the forward-looking statements.


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

FOR FURTHER INFORMATION PLEASE CONTACT: 
ValGold Resources Ltd.
Stephen J. Wilkinson
President & Chief Executive Officer
[phone]


ValGold Resources Ltd.
Cindy Chu
Investor Relations
[phone]
[phone] (FAX)
[e-mail]
www.valgold.com