VAN Vangold Mining Corp

Vangold Resources Ltd. (TSX-V: VAN) ("Vangold") advises that it has been requested by its auditors to change the accounting treatment for the 2006 and 2007 December 31 year end audits with respect to its investment in Horn Rare Metals Ltd. and International Beryllium Corporation. The changes relate to dilution gains in respect of the financing of Horn Rare Metals in 2006 and the reverse takeover by Horn of International Beryllium in 2007.

The 2006 audited statements will be restated to reflect a dilution gain which will result in an increase in net earnings and net assets for the year ended December 31, 2006 of approximately $250,000. The 2007 audited statements will be restated to reflect a dilution gain that arose upon the reverse takeover of International Beryllium (formerly Janina Resources) by Horn Rare Metals Ltd. which will result in an increase in net earnings and net assets of approximately $2,900,000.

While the above financial information represents management's best estimate of the effects of the restatement, the amounts have yet to be audited. Vangold expects to file the restated financial statements prior to the issuance of Vangold's 2008 year end results. In view of these changes the 2006 and 2007 audited financial statements which are currently on file should not be relied upon.

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, 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.

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Contact: Dal Brynelsen 604-684-1974 Email Contact 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