Z-Gold Exploration Inc. ("Z-Gold" or the "Corporation") (TSX VENTURE: ZGG) announces that it has determined that it may be in failure to comply with the requirement to file, on or before April 30, 2010 (the "Filing Deadline"), its audited annual financial statements for the financial year ended December 31, 2009, the management's discussion and analysis relating thereto and the certificates of the Corporation's Chief Executive Officer and Chief Financial Officer (collectively referred to as the "2009 Annual Financial Statements and MD&A"), in accordance with National Instrument 51-102 Continuous Disclosure Obligations and National Instrument 52-109 Certification of Disclosure in Issuer's Annual and Interim Filings.

Prior to the Corporation's Annual and Special Meeting of shareholders held on February 26, 2010, the bookkeeping, accounting and audit of the Corporation's business was made in Alberta. Following the relocation of the Corporation's head office in Rouyn-Noranda, Quebec, the Corporation's new management asked that the documents required for the preparation and audit of the 2009 Annual Financial Statements and MD&A (the "Accounting Books") be shipped to the Corporation's new auditors in Rouyn-Noranda, Quebec (the "Successor Auditors"). Due to circumstances beyond the Corporation's control, including difficulties by the firm in charge of the Corporation's accounting and bookkeeping in Calgary to retrieve the Accounting Books, the delivery of the Accounting Books to Rouyn-Noranda, Quebec, was delayed, which postponed the preparation and audit of the 2009 Annual Financial Statements and MD&A.

The Corporation expects to receive the Accounting Books within the next week and consequently, the Corporation expects to be able to file the 2009 Annual Financial Statements and MD&A on or before June 30, 2010.

The Corporation proposes to remedy the default to file the 2009 Annual Financial Statements and MD&A in accordance with the following remediation plan: (i) a preliminary version of the annual financial statements for the financial year 2009 has been prepared by the Successor Auditors using the financial information available as of the date of the Filing Deadline; (ii) upon receipt of the Accounting Books, the Successor Auditors will complete and verify the preliminary version of the annual financial statements based on supporting documents contained in the Accounting Books; (iii) once the Successor Auditors will have audited the annual financial statements, an external auditor firm will go through the documents and the Accounting Books for a cross checking of the financial statements; and (iv) the Successor Auditor and the Corporation will prepare the management's discussion and analysis based on the audited annual financial statements.

The Corporation has submitted an application for a management cease trade order ("MCTO") by the securities regulatory authorities of Alberta, Ontario, British Columbia and Saskatchewan. The MCTO is subject to the approval of the applicable securities regulatory authorities.

The Corporation will comply with the alternative information guidelines described in sections 4.3 and 4.4 of National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults, including bi-weekly default status reports issued by the Corporation in the form of news releases for as long as the Corporation will be in default to file the 2009 Annual Financial Statements and MD&A.

About Z-Gold Exploration Inc.

The head office of Z-Gold is located at 15, rue Gamble East, Suite 204, Rouyn-Noranda, QC J9X 3B6. Z-Gold Exploration Inc. is exploring for gold in the Abitibi Greenstone Belt.

Z-Gold has acquired the Munro Gold property located in the famous Timmins mining camp. Many gold showings need to be investigated by geophysical surveys and diamond drilling program. An airborne survey covered the property and successfully outlined many structural features. The Munro Property consists of five mining leases containing 85 claims (91 units) located approximately 86 kilometres east northeast of the city of Timmins in the Larder Lake Mining Division, Ontario.

Z-Gold Exploration Inc. is a publicly listed company trading on the TSX Venture (ZGG).

This press release was prepared by Z-Gold Exploration Inc. Neither the TSX Venture Exchange Inc nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

This document may contain forward-looking statements relating to Z-Gold's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Z-Gold's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not placed on such forward-looking statements. Z-Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.

Contacts: Rodrigue Tremblay President and CEO 1-800-388-8668 819-797-8668 zgoldexploration@gmail.com