Z-GOLD EXPLORATION INC. ("Z-Gold" or the "Company") (TSX VENTURE:ZGG) is pleased
to announce the closing of a non-brokered private placement of $120,000 through
the sale of 666,666 flow-through units at a price of $0.18 each to the
MineralFields Group.


Each flow-through unit consists of one flow-through share and one-half of one
non-flow-through common share purchase warrant, each warrant giving the right to
buy one common share at a price of $0.26 per share for a period of 24 months. 


With respect to this investment, Limited Market Dealer Inc. obtained a finder's
fee of 5% in cash and a two-year option to purchase 66,666 units of the Company,
on the same terms and conditions as the flow-through units described above, but
not on a flow-through basis. 


All of the securities issued pursuant to this offering have a hold period
expiring December 12, 2010.


The proceeds from this issue will be used for exploration work on the Company's
properties located in the Province of Quebec.


"Z-Gold is very pleased to continue the relationship with MineralFields Group",
said Rodrigue Tremblay, President and CEO. "We look forward to working again
with MineralFields Group as we develop our holdings in the Abitibi Greenstone
Belt in Quebec and in Ontario."


About MineralFields Group, Pathway and First Canadian Securities(R)

MineralFields Group (a division of Pathway Asset Management), based in Toronto
and Vancouver, is a mining fund with significant assets under administration
that offers its tax-advantaged super flow-through limited partnerships to
investors throughout Canada, as well as hard-dollar resource limited
partnerships to investors throughout the world. Pathway Asset Management also
specializes in the manufacturing and distribution of structured products and
mutual funds (including the Pathway Multi Series Funds Inc. corporate-class
mutual fund series). Information about MineralFields Group is available at
www.mineralfields.com. First Canadian Securities(R) is active in leading
resource financings (both flow-through and hard dollar PIPE financings) on
competitive, effective and service-friendly terms, and offers investment
banking, mergers and acquisitions, and mining industry consulting, services to
resource companies. MineralFields and Pathway have financed several hundred
mining and oil and gas exploration companies to date through First Canadian
Securities(R).


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 and
base metals in the Abitibi Greenstone Belt, in Ontario and in Quebec.


Z-Gold has as its flagship property the Abitibi Gold Property located in Munro
Township in the famous Timmins mining camp. There are many surface gold showings
that require investigation by ground geophysical surveys and followed up by a
diamond drilling program. A recent airborne survey has successfully outlined
many EM and magnetic structural features. A geophysical feature similar to the
Croesus mine has been identified. The Abitibi Gold 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.