The board of directors and management of ValGold Resources Ltd. are committed to the creation of and adherence to clear and strong corporate governance policies. Such policies are important and integral to the Company's long-term success and to the protection of the range of interests of our employees, shareholders and other stakeholders.

The Board has decided to update ValGold's corporate governance policies and guidelines over the coming months to promote the effective functioning of the Board of Directors and its Committees. The updated policies will set out a common set of expectations as to how the Board and management should manage the affairs of the Company and perform their various responsibilities. The Board intends that the policies will include a Code of Business Conduct and Ethics that is applicable to all of its employees, contractors, consultants, officers and directors.

These policies and Code will guide the Board and management in conducting their business activities in an appropriate and effective manner, and to harmonize corporate governance practices with regulatory requirements.

ValGold has several committees that assist the Board with its overall responsibilities. These Committees include: Audit Committee; Corporate Governance & Nominating Committee; and Compensation Committee. The revised corporate governance policies may establish other committees in the future.

The Corporation's Corporate Governance practices will comply with the national instruments of the Canadian Securities Administrators regarding corporate governance practices, including National Instrument 58-101 "Disclosure of Corporate Governance Practices".