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Q-Gold Share Consolidation and New Trading Symbol

posted on Dec 14, 09 08:30AM

FORT FRANCES, ON,Dec. 14 - Q-Gold Resources Ltd. (TSX VENTURE:QGR) (http://www.qgoldresources.com) today announced that, pursuant to a resolution passed by shareholders at the Company's Annual and Special Meeting of Shareholders held onNovember 6, 2009, the Company has consolidated its capital on a 15 old shares for 1 new share basis.

Effective at the opening of trading onMonday, December 14, 2009, the common shares of Q-Gold Resources Ltd. will begin trading on the TSX Venture Exchange, on a consolidated basis, under the new trading symbol "QGR". The name of the Company has not been changed.

The consolidation will result in 7,730,943 shares issued and outstanding and 9,037,524 shares on a fully-diluted basis.

About Q-Gold

------------

Resources Ltd. Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals on its 29,000 acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. In addition, the Corporation holds options on seven historic gold and silver mines in the historic Arizona gold camp of Crown King, and two 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-Goldwhere 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 toQAU@agoracom.comwhere 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 from the Company's expectations and projections. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information: Corporate Inquiries,
Q-Gold Resources Ltd.,
J. Bruce Carruthers II,
President,
1-888-779-0166,
http://www.qgoldresources.com;

Investor Relations,
AGORACOM Investor Relations,
http://www.agoracom.com/IR/Q-Gold,
QAU@Agoracom.com