ValGold in Negotiations for a Property Acquisition in Central Europe

ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) ("ValGold") announces it
is in an advanced stage of negotiation to acquire one or more mineral properties
located in Central Europe. To date approximately $1.0 million has been expended
to investigate a number of potential acquisition targets including previously
operating mines. These funds have been expended to acquire historic exploration
and operational data and as an initial deposit on properties under negotiation.


The data acquired is currently being evaluated by ValGold's management and
consulting geologists and ValGold hopes to conclude negotiations for the
acquisition of one or more properties within 60 days. The material terms of any
acquisition will be announced when agreed. All acquisitions will be subject to
board and regulatory approval.


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

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 in
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