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.