ValGold Update on the Garrison Project

ValGold Resources Ltd. (TSXV:VAL)advised that Northern Gold Mining Inc. (TSXV: NGM) has fulfilled its first year obligations under its Option Agreement on ValGold’s 100%-owned Garrison Gold Property.

The press release is quoted as saying:

Under the terms of the Option Agreement, Northern Gold may acquire an initial 50 percent undivided interest in the Garrison Gold 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.

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