October 25, 2007 - Vancouver, BC - Vangold Resources Ltd. ("Vangold") announces that its joint

venture partner, New Guinea Gold Corporation (“NGG”), has reported that it has completed the

transfer of two copper concessions to a newly formed Australian company known as Coppermoly Ltd.

Coppermoly Ltd. intends to undertake an Initial Public Offering in Australia to raise up to Aus$20

million and is expected to list on the Australian Stock Exchange late December, 2007. A prospectus has

been filed with the Australian Stock Exchange (www.asx.com.au). Proceeds from the offering will be

applied to explore three large copper/gold/molybdenum systems; Simuku, Mt. Nakru and Plesumi (part

of Mt. Nakru) concessions all on the island of New Britain – each system or prospect is known to have

mineralisation over at least 3 to 5 sq kms.

The IPO for Coppermoly Ltd is sponsored by Australian Brokers, Novus Capital and South Pacific

Securities and London broker VSA Resources. This prospectus has been issued for the purposes of

offering up to 80,000,000 shares at AUD$0.25 each and to raise up to AUD $20 million before costs. It

is expected to list on the Australian Stock Exchange (ASX) in late December 2007.

Vangold’s interest in the Mt. Nakru project is derived from it’s 50% interest in Kanon Resources Ltd.

the Papua New Guinea company which ownes 50% of Mt Nakru. Therefore, pre-financing, Vangold

owns 12.5% of Coppermoly Ltd. making Vangold the second largest shareholder in Coppermoly.

Vangold’s President and CEO, Dal Brynelsen will be a member of the Board of Directors of

Coppermoly. Mr. Brynelsen comments; “This arrangement will contribute greatly to Vangold’s

balance sheet while providing the necessary exploration budget to advance these porphyry deposits.”

NGG’s Chairman and CEO Robert McNeil who has joined the Coppermoly Board as non-executive

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 brynelsen@vangold.ca.

On Behalf of the Board of

VANGOLD RESOURCES LTD.

“Dal Brynelsen”

Dal Brynelsen, President and CEO