VALGOLD RESOURCES LTD.

ValGold Resources report that it has entered into an Option Agreement with Northern Gold Mining to acquire an interest in ValGold’s Garrison gold property. Under the terms of the agreement, Northern Gold may acquire an initial 50 percent undivided interest in the Property by making cash payments to ValGold of $1,000,000 over four years, with all or part of the payments being made in Northern Gold stock at Northern Gold’s option, using a 20-day value weighted average price subject to regulatory approval. To earn the 50 percent interest Northern Gold must also complete work on the property in the amount of $4,000,000 over four years, with $500,000 being spent on the property in the first year of the agreement and not less than $750,000 to be expended in each of the subsequent years.