. (“Vangold”) is pleased to announce the launch of the latest

airborne geophysical data for Uganda. Eighty (80%) percent of the country is now covered by magnetic,

radiometric and electromagnetic (EM) surveys for the purpose of promoting mineral exploration.

Vangold’s mineral concessions in Uganda currently cover 1.4% of Uganda’s land surface spread over 32

exploration licenses in regions of high mineral potential.

The High Resolution Airborne Geophysical Survey Programme for Uganda commenced in 2006. With

financial support in the form of loans and grants from World Bank Organization (WBO), African

Development Bank (AFDB), NDL and Government of Uganda, totalling $47 million US dollars, the

Commissioner of the Department of Geological Survey and Mines, Joshua T. Tuhumwire, happily

announced today, at the Ministry for Mineral Development and Mines in Kampala, that the seven blocks,

totalling 630,622 line kilometres of magnetic and radiometric surveys are now ready and available for

acquisition. He hopes the data will improve inadequate geoscience information and that the release of this

extensive new high resolution geophysical data set will attract mineral investment in Uganda.

Back in 1961, a regional airborne geophysical survey was conducted for mineral exploration and was

funded by the United Nations Development Programme (UNDP) and the government of Uganda achieved

almost 50% coverage by 1980. These surveys were typically flown with 1km line spacing, 10km ties and

120m terrain clearance. All magnetic data of the regional programme was subsequently compiled into one

data set during the African Magnetic Mapping Project in 1992.

In 1996-2000 The Ugandan government formally requested the support of the WBO to support and

finance the implementation of the Programme. By 2001, The Government of Uganda also approached the

AFDB and by 2006 the Programme commenced.

Line spacing for Blocks 1 (southeast-Bugiri and Busia), 2 (west-central-Mubende/Fort

Portal/Kamwenge), 3 (southwest-Kabala and Ntungamo), 5 (northwest-West Nile) and 7 (southcentral-

Masaka) are 200m and the terrain clearance is 80m. Block 4 (Northcentral-Gulu/Kitgum) has 400m line

spacing with 80m terrain clearance. Block 6 (central Uganda), never flown before and therefore

considered reconnaissance data, was acquired with 500m line spacing and 80m terrain clearance.

Blocks 1 through 7 are magnetic and radiometric surveys all flown by Fugro. In addition, several smaller

EM surveys are currently being run and include a planned total of 23,806 line kilometres of EM surveys.

The EM surveys are 200m line spacing and to date approximately 15,000 has been completed.

Block 1 (covering Vangold’s Bugiri 200km

license) and Block 6 were released December 13, 2007 and

were purchased by Vangold at that time. Banded Iron formation (BIFs) of the Nyanzian Greenstone Gold

Belt are clearly visible in Vangold’s wholly owned Bugiri license trending in from Tanzania to the south

(and host to such deposits there as Geita-Anglogold/Ashanti, Golden Pride-Resolute Mining and

Barrick’s Bulyanhulu).

www.vangold.ca

.

On Behalf of the Board of