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 18th, 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