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Toronto, ON - September 5, 2007 - VG Gold Corp., (TSX-V: VG), (FRANKFURT: VN3), announces drill results from seven exploration drill holes recently completed in the South Mine area of the Buffalo Ankerite Property. The results continue to expand the gold mineralization and to indicate good exploration potential for the South Mine area of the Buffalo Ankerite property.
Highlights:
* VBA-07-74 assayed 13.75 grams Au per tonne over 9.14 metres including 21.54 grams Au over 4.11 metres
* VBA-07-75 assayed 3.23 grams Au per tonne over 22.86 metres including 8.86 grams Au over 3.66 metres
* VBA-07-78 assayed 4.74 grams Au per tonne over 11.92 metres including 6.0 grams Au over 9.0 metres including 13.36 grams Au over 3.0 metres
The Company is drilling the steeply dipping gold mineralization in the South Mine area located below the area of the South Mine pits that were operated during the early 1980\'s. The program is targeted on delineation and definition of the gold mineralization above the 200-metre level at the South pits location, with the intention of increasing and upgrading the resource. Drilling is currently ongoing at depths below 200 metres, with plans to continue to follow the gold mineralization to greater depths. Several neighboring mines have been developed to depths in the range of 1,700 to 2,500 metres.
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VBA-07-72
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Intersection Length Gold
(in Metres) Grams per Ounces Per
From To Metres Feet Tonne ton
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12.5 13.99 1.49 4.9 2.1 0.061
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24.87 25.42 0.55 1.8 2.1 0.061
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VBA-07-73
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1.52 5.0 1.3 0.038
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0.61 2.0 1.7 0.050
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VBA-07-74
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22.71 31.85 9.14 30.0 13.75 0.40
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including 4.11 13.5 21.54 0.63
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946.12 946.79 1.46 4.79 3.80 0.11
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VBA-07-75
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19.87 42.67 22.86 75.0 3.23 0.09
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including 13.72 45.0 4.21 0.12
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including 3.66 12.0 8.86 0.26
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VBA-07-76
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4.57 10.36 5.79 19.0 3.6 0.11
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VBA-07-77
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11.43 16.18 4.75 15.6 2.9 0.08
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including 1.34 4.4 3.1 0.09
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VBA-07-78
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48.59 60.5 11.92 39.1 4.74 0.14
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including 9.0 29.5 6.0 0.18
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including 3.0 9.8 13.36 0.39
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-****-
Notes:
* Lengths reported are core intersection lengths and do not represent true widths.
* It is anticipated that true width estimates will be made possible after additional drilling.
* Conversion: grams per tonne times 0.0292 equals troy ounce per short ton.
Seven drill holes tested east - west trending gold zones that are located in the east area of the Buffalo Ankerite South Mine. The Buffalo Ankerite Property saw historical production of 1,018,000 gold ounces between 1926 and 1953 (Ontario Ministry of Northern Development and Mines, Buffalo Ankerite & Ankerite March listings). The property continues to hold significant potential to explore and develop both surface mineable and deeper, down dip gold mineralization. Records of historic underground workings and drilling indicate good potential to expand gold mineralization on the property. Known gold mineralized stratigraphy crosses the Buffalo Ankerite property for a strike length of 2,000 metres, which is located within the 6,000-metre length of the regional geological structure, known as the south limb of the Porcupine syncline. The Porcupine Gold Camp has produced more than 60 million ounces of gold to date (source: Ontario Ministry of Northern Development and Mines).
The spring / summer drill program intersected mineralized quartz-tourmaline breccia zones which are recognized as host rocks for ore in the prolific Timmins Gold Camp, and all of the drill holes intersected gold values. Our targets are in the area of the historic production on the Buffalo Ankerite property where we are exploring the extensions of, and adjacent to, the previously mined areas.
Tom Meredith, President and CEO said, \"We are very pleased with the outcome of our last drill program and are excited about following up on the significant potential of the property.\"
All exploration work was conducted under Kenneth Guy, P. Geo., designated Qualified Person for VG Gold, who has reviewed the this press release. Gold analysis of samples collected by Vedron were assayed by Laboratoire Expert in Rouyn-Noranda, Quebec. Analysis consisted of a fire assay of a 30-gram sample with an atomic absorption finish. Samples assaying over 1.0 gram per tonne Au are re-assayed with gravimetric finish. Samples noted to contain visible gold are analyzed via total metallic assay method. A rigorous Quality Control and Assurance program (QA/QC) is in place, using control samples such as Blanks and Rocklabs Standards and duplicate checks. In addition, duplicate analyses of 10% of the samples were corroborated by check assays on sample performed by Bourlamaque Laboratory of Val D\'Or, Quebec.
For further information contact Tom Meredith, President of VG Gold, (416) 368-0099.
To learn more about VG Gold (TSX-V: VG), visit our website: www.vggoldcorp.com. A map of the Company\'s recent drilling can be found at http://www.vggoldcorp.com/drilling.html.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Shares: 86,201,014
For further information contact:
Tom Meredith
President
VG Gold
(416) 368-0099
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