ValGold Resources Ltd.

Corporate Profile

Issued Shares: 55,548,254 common shares
Warrants: 15,697,847 warrants (exercisable into one common share at 10 cents per common share to October,2019)
Stock Options: 2,775,000 options (exercisable at 6.5 cents to August,2022)
Stock Symbol TSX-V:VAL

ValGold Resources Ltd. is a Canadian junior royalty and mineral exploration company.

Garrison 2% NSR: Valgold's prime asset is a 2% net smelter royalty (NSR) on the Garrison Gold Project in the Golden Highway Camp near Kirkland Lake Gold Inc.'s (TSX: KL) Holt and Holloway Mines, Moneta Porcupine Mines Inc.'s (TSX: ME) Golden Highway Project and McEwen Mining's (TSX: MUX) Black Fox Mine. The Garrison Project is on the Destor-Porcupine Fault Zone, a prolific gold region which has produced over 85 million ounces to-date.

Osisko Mining (TSX:OSK) owns 100% of the Garrison Project and is currently conducting a major drill program (in excess of 80,000 metres to-date) to increase and better define the existing NI 43-101 compliant resource. Please see the Osisko website for progress reports and interpretation. The Garrison Project comprises 3 zones:

Garrcon: The largest zone (resource) defined to-date which appears amenable to bulk tonnage, relatively low-grade open pit mining methods with higher grade underground zones;
Jonpol: Higher grade vein-type mineralisation; and
903: The NSR covers only a portion of the zone; not included in the NI 43-101 compliant (2014) resource estimate.

Valuation of an NSR (present value) depends on the assumptions applied, being principally the size and grade of the resource, the life of mine, gold price and time to the startup of production, along with the discount rate.

Tower Mountain: ValGold has a 100% interest in the Tower Mountain Gold Project on the Shebandowan gold belt of north-western Ontario. The Company has spent over $3.5 million on the property including multiple drill programs since 2002 and has an initial NI 43-101 compliant (2005) resource of 151,000 ounces for the U-V Zone. Three further zones have been confirmed by drilling between 2002 and 2011. ValGold is presently completing a computer-based three-dimensional model on the property and reviewing prior drilling and geophysical work as part of a targeting exercise to evaluate options for further sole risk or joint venture drill programs.

Venezuela: ValGold acquired a group of properties in Bolivar State in Venezuela in 2007 comprising 19 concessions and 900 for $8 million in 2007. Approximately US$39 million was spent on exploration and development expenditures by prior operators. The Chicanan concessions are located 40 km northwest of Gold Reserve's (TSX-V:GRZ) Brisas-Cristinas project. In 2011, the Venezuelan Government passed a Decree to unilaterally acquire 55% of all gold mining and exploration projects in Venezuela and ValGold suspended operations in Venezuela until there is clarity on the conditions for mineral exploration or development in the country.