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Message: AGM results and comment re Garrison 6 holes.

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AGM results and comment re Garrison 6 holes.

posted on Apr 06, 11 01:01PM
From first paragraph re AGM: "VANCOUVER, BRITISH COLUMBIA -- At the Annual Meeting of the shareholders of ValGold Resources Ltd. (TSX VENTURE:VAL)(FRANKFURT:VR2) (the "Company" or "ValGold") held on Tuesday, April 5, 2011, Sargent Berner, Dr. A. Darryl Drummond, Kenneth Yurichuk, Stephen J. Wilkinson and William J. Witte were re-elected as directors of the Company and PricewaterhouseCoopers LLP were re-appointed as the Company's auditors for the following year. Shareholders also ratified and approved the continuation of the Company's 10% rolling stock option plan, in accordance with the requirements of the TSX Venture Exchange."

Re Mar.31 Report of 6 holes drilled at Garrison.

These holes show that there are very valuable veins in the resource, however the long intercepts:

GAR-10-43 with 293.0m grading 0.54

GAR-10-44 with 292.5m grading 0.60

and GAR-10-50 with 287.0m averaged an uncut grade of 0.47 g/t Au are not yet practical to exploit even with current gold prices, energy costs take away pluses from metal price. (Currently 1 gram Au represents about $50.)

Note: GAR-10-46 Intercepted lenght of 284.6m, averaging 1.62g/ton. This shows not only the best vein but is itself as a whole very desirable resource.

So do not get too carried away with the fractional gram deposits BUT do with the rich veins and GAR-10-46. Anything with a 1 gram per ton is a desirable asset even with the costs of energy going up.

I am pleased with these drill results.

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