Bank of America Building

Q-GOLD RESOURCES LTD. c/o Mineral Creek Resources Inc. Bank of America Building Suite 508, 121 East Birch Avenue Flagstaff, Arizona 86001 Ph: (928) 779-0166/ Fax: 779-0107 www.QGoldResources.com

Q-GOLD ANNOUNCES PRIVATE PLACEMENT OFFERING

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Vancouver, British Columbia, June 11, 2012 – Q-Gold Resources Ltd. (the "Company") (TSX VENTURE: QGR) (http://www.qgoldresources.com) is pleased to announce that it has arranged a nonbrokered private placement of 12,500,000 units ("Units") at a price of $0.08 per Unit for aggregate gross proceeds of $1,000,000 (the "Offering"). Each Unit will be comprised of one common share ("Share") and one share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of 24 months from the closing date at an exercise price of $0.15 per Warrant Share.

A finder's fee may be payable in relation to the proposed private placement in line with the policies of the TSX Venture Exchange.

The proceeds raised will be used for continued gold and silver exploration on the Issuer's properties and for general corporate purposes.

The Offering is subject to TSX Venture Exchange approval.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals on its Alaska, Ontario and Arizona prospects.

Neither the 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.

Contact Information:

J. Bruce Carruthers II, Chairman at 1-888-779-0166 or [email protected], Website: http://www.qgoldresources.com

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