Vangold Releases Q1 2008 Results

VANCOUVER, BC ("Vangold") published its 2008 first quarter unaudited consolidated financial and operating results on May 30, 2008. Complete financial statements may be reviewed at www.vangold.ca or www.sedar.com.

A summary of comparisons for the periods ending March 31, 2007 and March 31, 2008 are as follows:

                               March 31, 2007($)        March 31, 2008($)

Assets                              15,143,787               19,890,809
Working Capital                      5,938,452               10,356,247
Cash and Cash Equivalents            5,734,036               10,230,510
Expenses                               665,143                  478,324
Revenue*                               568,038                  279,766
Net Loss**                             218,996                  198,588

*   Revenues decreased $288,272 as a result of the sale of the Killam North
    field.
**  Net loss per share for the period ending March 31, 2008 was $0.002
    compared with a loss of $0.003 per share for the same period in 2007.

During the quarter highlights include the following:

--  Closed Tranche II of a private placement raising $1.29M;
--  Acquired one half of the economic interest for petroleum exploration
    of 3,600km2 in southern Armenia;
--  Completed the drill program at the Feni Islands project;
--  Coppermoly Limited listed on the Australian Stock Exchange;
--  Acquired 400,000 bonus and 400,000 bonus warrants of New Guinea Gold
    Corporation together with full repayment of a $2M loan;
--  Drill program established to drill Kafunjo property in Uganda;
--  Exploration continued with GPS relocation of the occurrences
    geological mapping, prospecting and sampling at the Kilembe and West Nile
    licenses in Uganda;
--  International Beryllium Corporation, of which Vangold holds 25.6M
    shares, acquired Freedom Alloys, Inc. a US based manufacturer and supplier
    of beryllium, beryllium copper and beryllium containing alloy products.

To find out more about Vangold Resources Ltd. please visit our website at www.vangold.ca or contact Dal Brynelsen at 604-684-1974 or by email brynelsen@vangold.ca.

On Behalf of the Board of
VANGOLD RESOURCES LTD.

"Dal Brynelsen"

Dal Brynelsen, President and CEO

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release. The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company's expectations. Certain risk factors may also affect the actual results achieved by the Company.

Distributed by Filing Services Canada and retransmitted by Marketwire

Suite 1730, 650 West Georgia Street P.O. Box 11622 Vancouver, BC, V6B 4N9 Phone: 604-684-1974 Fax: 604-685-5970 www.vangold.ca

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