ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) ("ValGold" or the
"Company") is pleased to announce that it has completed its non-brokered private
placement previously announced April 12 and April 27, 2011. A total of 6,785,000
common shares (the "Shares") were sold at a price of $0.27 per share (the
"Offering") for gross proceeds of $1,831,950.


Compensation was paid to a certain eligible arm's-length party (the "Finder") in
consideration for securing subscribers for the Offering. The compensation is
comprised of two components consisting of a Finder's commission totaling 180,000
common shares (equal to 5% of the gross proceeds raised from the Offering
attributable to the Finder) as well as Finder's Warrants totaling 180,000
non-transferable common shares (equal to 5% of the number of Shares sold in the
Offering attributable to the Finder). Each Finder's Warrant is exercisable to
acquire one common share in the capital of the Company at a price of $0.30 per
share and expires 18 months after closing expiring on November 3, 2012.


All securities issued with respect to this non-brokered private placement are
subject to a four months plus one day hold period expiring on September 4, 2011,
in accordance with the policies of the TSX Venture Exchange and the provisions
of the Securities Act (British Columbia).


The proceeds from the non-brokered private placement will be used for the
maintenance of ValGold's exploration properties and for general working capital.



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, 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