ValGold and Revolver Enter Option Agreement to Advance Tower Mountain Gold Property

ValGold Resources Ltd. ("ValGold") (TSX VENTURE:VAL)(FRANKFURT:VR2) and Revolver
Resources Inc. ("Revolver") are pleased to report that they have entered into an
Option Agreement to advance ValGold's 100%-owned Tower Mountain gold property in
north western Ontario (the "Property"). Revolver trades on the TSX-Venture
exchange under the ticker symbol; RZ.


Under the terms of the agreement, Revolver may acquire an initial 70% undivided
interest in the Property, over the next three years, by making cash payments of
$1,700,000 and issuing 7.5 million shares to ValGold. Revolver must also
complete $3,500,000 in work expenditures on the property with not less than
$500,000 to be spent in the first year of the agreement and not less than
$500,000 to be spent in each of the subsequent years. After earning the initial
70% interest, Revolver may increase its interest to 100% over the next three
years by making additional payments to ValGold of $2,500,000 in cash and 7.5
million of Revolver common shares and by completing $4,000,000 of additional
work on the property. In addition, Revolver would also make a final cash payment
of $2.5 million to ValGold within 180 days of the commencement of commercial
production from the Property. Closing of the transaction remains subject to the
approval of the TSX Venture Exchange.


The Property is subject to a 2.5% Net Smelter Royalty (the "NSR") held by the
original property vendor and ValGold has retained the right to purchase 1% of
this NSR for $1.0 million.


Stephen Wilkinson, ValGold's President and CEO, commented "This deal for the
Tower Mountain gold property must be seen as a positive for both ValGold and
Revolver. For Revolver, Tower represents an excellent opportunity to acquire an
advanced gold project, complete with known resources and high-priority drill
targets. ValGold looks to benefit from its significant equity holding in
Revolver as the project is further advanced, in addition to the replacement of
its previous expenditures and its right to purchase the NSR as its link to the
production potential of the Tower Mountain gold zones."


In connection with the transaction, ValGold will pay an initial finder's fees
totalling $13,750 (the "Finder's Fees") to an arm's length party. Subject to the
approval of the TSX Venture Exchange, ValGold may, at its option, elect to pay
all or a portion of the Finder's Fees in common shares of ValGold at a price of
$0.11.


Tower Mountain Project Summary

The Property is located approximately 40km west of Thunder Bay, in north western
Ontario and includes 55 claims and 3 patented claims covering 3,875 acres in
Conmee Township, Ontario. It is underlain by Archean-age volcanic and
sedimentary rocks with a syenitic intrusive complex being an important focal
point for the widespread gold mineralization. The exploration targets going
forward include both high-grade veins and large low-grade bulk mineable
deposits. In 2011, ValGold drilled the 31-Bench Zone (2.00 g/t Au over 27.0m),
04-36 Zone (1.136 g/t Au over 16.5m), the 04-9 Zone (0.54 g/t Au over 18.0m) and
the U-V Zone (0.815 g/t Au over 73.5m), the latter of which contains the NI
43-101 compliant inferred resource of 151,000 ounces within 7.15 million tonnes.


Exploration work by ValGold on the Tower Mountain Gold Property began in
November 2002 and focused on diamond drilling. A total of nine drill programs
comprising 104 drill holes, for 23,388m, were completed as at 2011 year end. The
majority of drilling was conducted in the vicinity of the U and V Trench areas
(U-V Zone) and this work defined several mineralized structures. The most
continuous of these structures is designated the Main Vein which dips moderately
northeast and can be traced along strike for a minimum 400m. The Main Vein
mineralized zone measures from 0.6m to 20.0m true width plunging steeply to the
southeast. Drill intercepts from this zone returned assays ranging from 304.00
g/t Au over 3.0m in drill hole TM04-3 to 2.58 g/t Au over 55.5m in TM04-9.


Drilling has also delineated low grade, bulk tonnage zones such as the former
04-31 Zone now referred to as the 31-Bench Zone. It is located 800 meters
southeast of the U-V Zone with some values up to 0.70 g/t Au over 87.0m
(TM-11-67). A hole drilled in 1996 by Avalon Ventures Limited in the vicinity of
the 04-31 Zone was orientated sub-parallel to the zone and returned an average
grade of approximately 0.3 g/t Au over its entire 739m length. The second
high-grade zone identified is the 04-36 Zone and is located 400m southwest of
the U-V Zone. Unlike the U-V Zone, the 04-36 strikes north-northeast. Several
drill holes have intersected this zone. One hole documented 41.35 g/t Au over
1.5m and a second hole returned an assay of 5.31 g/t over 1.5m.


The following table summarizes the drill programs and presents highlights of
each of the nine drilling campaigns conducted by ValGold Resources from 2002 to
2011.




         Highlights of Tower Mountain Gold Zones Drill Intersections       
                                                                           
 --------------------------------------------------------------------------
                              Total   Best High-Grade    Best Low-Grade    
 Program     Holes Drilled    Meters  Gold Intersection  Gold Intersection 
 --------------------------------------------------------------------------
 2002 (Fall) DDH02-01 to -05  1,042   23.17g/tAu /1.5m   1.05g/tAu /73.5m  
                                      in DDHTM02-02      in DDHTM02-03     
 --------------------------------------------------------------------------
 2003        DDH03-01 to -05  1,085   11.77g/tAu /3.0m   1.01g/tAu /22.5m  
  (Spring)                            in DDHTM03-02      in DDHTM03-03     
 --------------------------------------------------------------------------
 2003 (Fall) DDH03-06 to -12  1,499   19.76g/tAu /1.5m   0.62g/tAu /12.0m  
                                      in DDHTM03-11      in DDHTM03-12     
 --------------------------------------------------------------------------
 2004        DDH04-01 to -10  2,601   304.0g/tAu /3.0m   2.40g/tAu /61.5m  
  (Winter)                            in DDHTM04-03      in DDHTM04-09     
 --------------------------------------------------------------------------
 2004        DDH04-11 to -23  3,450   68.91g/tAu /0.2m   1.93g/tAu /37.5m  
  (Summer)                            in DDHTM04-19      in DDHTM04-15     
 --------------------------------------------------------------------------
 2004 (Fall) DDH04-24 to -36  3,418   41.35g/tAu /1.5m   0.58g/tAu /246.8m 
                                      in DDHTM04-36      in DDHTM04-31     
 --------------------------------------------------------------------------
 2005        DDH05-37 to -50  3,523   16.00g/tAu /1.5m   0.77g/tAu /21.0m  
  (Winter)                            in DDHTM05-38      in DDHTM05-44     
 --------------------------------------------------------------------------
 2007        TM07-51 to 58    2,090   58.20g/tAu /1.5m   0.59g/tAu /21.0m  
  (Summer)                            in DDHTM07-56      in DDHTM07-56     
 --------------------------------------------------------------------------
 2011        TM11-59 to 87    4,680   4.93g/tAu /4.50m   0.70g/tAu /115.5m 
  (Summer)                            in DDHTM11-63      in DDHTM11-75     
 --------------------------------------------------------------------------
 Total       104 DDH          23,388                                       
 --------------------------------------------------------------------------



A NI 43-101 compliant resource estimate for the U-V Zone was compiled by Caracle
Creek International Consulting Inc. of Sudbury, Ontario. The report dated
February 9, 2006, is filed on SEDAR. The resource for the U-V zone is estimated
to consist of 151,000 ounces within a bulk mineable volume. The zone is open to
expansion on strike to the SE and at depth.


Robert Chataway, P.Geo, the qualified person for ValGold, has reviewed the
accuracy of the technical portion of the news release.


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. 



For more information on ValGold's Canadian and international gold projects,
please visit our website at www.valgold.com.


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