Valdez Gold updates status of Los Jarros and Jarros Norte properties

TORONTO, May 12 /CNW/ - Valdez Gold Inc. (VAZ-TSXV, the "Company" or "Valdez") is pleased to report that it has received title for its Jarros Norte F1, F2 and F3 claims located in the state of Chihuahua, Mexico from the "Ministry of Minerals and Energy of Mexico". The Company now has title on all of its eight (8) claims in the area.

The Company has commenced the re-establishment of the soil geochemical grid on the Los Jarros property that was first established in 1999 and where a 950 m long north-northwest trending gold-in-soil anomaly ((greater than)100 ppb) was defined. Detailed geological mapping will be conducted over the entire grid. In conjunction with the soil geochemical data a drill programme will be planned and is envisaged to commence in the third quarter of 2008. The soil geochemical grid will also be extended approximately 2 km east to test a coincident alunite-silica Aster satellite image anomaly on the Los Jarros property.

Concurrently the Company is conducting a follow-up stream sediment sampling programme in those areas on the Jarros Norte property, which returned anomalous stream sediment from the regional programme conducted in late 2007.

The Company is also very pleased to announce that Mr. Colin Carey has agreed to join the Valdez management team and will fulfill the role of Exploration and Country Manager in Mexico. Mr. Carey has over 20 years experience in the exploration and mining industry and held the position of Resource Evaluation Manager with BHP Billiton for the last 7 years. Mr. Michael Skead, President and CEO of the company, said "We are very pleased that Colin has accepted the role of Exploration and Country Manager for Mexico. Mr. Carey has considerable experience in the industry which will help in achieving the Company's goals of accelerating the exploration program in Mexico."

Exploration field work is supervised by Alfonso Daco, P. Geo., President of Minera Valdez, and over-seen by Michael Skead (MAusIMM), President and CEO of Valdez, who has acted as the qualified person under NI43-101 and reviewed the content of this press release.

Further information on the company is available at its website at www.valdezgold.ca.

The TSX Venture Exchange does not accept responsibility for the adequacy

or accuracy of this release.

Contacts

Valdez Gold Inc.
Michael B. Skead
Tel: (416) 482-9038
Fax: (416) 924-7997