Fort Frances, Ontario, April 8, 2009 – Q-Gold Resources Ltd. (TSX VENTURE:QAU)(FRANKFURT:QX9) (http://www.qgoldresources.com) is pleased to announce that it intends to complete a non-brokered private placement of up to $300,000 of common shares of the Corporation (the "Offering").
The Offering will consist of the issuance of up to 30,000,000 common shares (the "Common Shares") at a price of $0.01 per share for aggregate gross proceeds to the Corporation of up to $300,000.
Finders participating in the Offering, will receive a 10% cash finder's fee on the gross proceeds of the Offering.
Proceeds received from the Offering will be used to repay current payables, to finance general and administrative expenses and for other general corporate purposes.
The completion of the Offering is conditional upon the Corporation receiving all requisite regulatory approvals, including that of the TSX Venture Exchange.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and four prospective copper porphyries and one copper / zinc prospect in Arizona.
For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company’s expectations and projections. The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.
CONTACT INFORMATION
Corporate Inquiries
Q-Gold Resources Ltd. J. Bruce Carruthers II, President1-888-779-0166
http://www.qgoldresources.com
Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/Q-Gold
QAU@Agoracom.com
