Vangold Announces $2.5 Million Financing

VANGOLD RESOURCES LTD. TSX-V:VAN

NEWS RELEASE

VANGOLD ANNOUNCES $2.5 MILLION FINANCING

September 10, 2010 – Vancouver, BC - Vangold Resources Ltd. ("Vangold" or the "Company") is pleased to report that the Company will conduct a non-brokered private placement of up to 11,363,637 units at a price of $0.22 per unit for aggregate gross proceeds of up to $2,500,000.

Each unit will consist of one common share and one non-transferable warrant, with each warrant entitling the holder to purchase one additional common share at $0.25 for a period of two years following the closing date.

The securities issued pursuant to the private placement will be subject to a four month hold period from the closing date. The Company may pay finder's fees in connection with the private placement, subject to compliance with the policies of the Exchange. Completion of the private placement and the payment of any finder's fees remain subject to the receipt of all necessary regulatory approvals, including the approval of the Exchange.

The proceeds of the private placement will be used for the continued exploration and development of the Company's Papua New Guinea gold projects, primarily Mt Penck, and for general working capital purposes. Mt Penck is Vangold’s flagship gold property in Papua New Guinea.

To find out more about Vangold Resources Ltd. please visit our website at www.vangold.ca or contact Dal Brynelsen at 604-684-1974 or by email [email protected].

On Behalf of the Board of VANGOLD RESOURCES LTD.

"Dal Brynelsen"

Dal Brynelsen, President and CEO

Neither 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.

Suite 900 – 595 Howe Street, P.O. Box 10, Vancouver, BC, Canada V6C 2T5 T 604-684-1974 • F 604-685-5970 • www.vangold.ca