ValGold Revises Agreement on Tower Mountain Gold Property, Ontario

ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) ("ValGold") is pleased
to report that it has revised the binding letter agreement (the "Option
Agreement") with Revolver Resources Inc. ("Revolver") for ValGold's 100%-owned
Tower Mountain gold property in north western Ontario. The Option Agreement was
previously announced in a news release dated September 19, 2012. The revised
agreement is subject to TSXV approval.


The terms of the Option Agreement have been revised so that Revolver can acquire
an initial undivided 70% interest in the Tower Mountain property over the next
three years by:




(i)   making cash payments of $1,700,000 to ValGold of: 

         --  $200,000 on receipt of Regulatory Approval; 
         --  $350,000 on the first anniversary of receipt of Regulatory
             Approval;
         --  $450,000 on the second anniversary of receipt of Regulatory
             Approval, and; 
         --  $700,000 on the third anniversary of receipt of Regulatory
             Approval.

(ii)  incurring aggregate expenditures of $3,500,000 on the Tower Mountain
      Property, with not less than $300,000 to be incurred by the first year
      anniversary of receipt of Regulatory Approval and $3,200,000 to be
      incurred by the fourth anniversary of receipt of the Regulatory
      Approval. The minimum expenditure shall be $500,000 in any 12 month
      period between anniversary dates. 

(iii) issuing to ValGold an aggregate of 7,500,000 Revolver common shares as
      follows: 

         --  1,500,000 Revolver Shares within five business days from
             receipt of Regulatory Approval, and; 
         --  2,000,000 Revolver Shares on each of the first, second and
             third anniversaries of receipt of Regulatory Approval. 



All other terms of the Option Agreement as disclosed in the September New
Release remain unchanged.


Revolver has completed an updated National Instrument 43-101 report on the Tower
Mountain Property which will be filed with the TSX Venture Exchange and posted
on SEDAR once acceptance has been received for the transaction.


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. 



Stephen J. Wilkinson, President & Chief Executive Officer

Cindy Chu, Investor Relations

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