Valdez Gold updates status of Los Jarros property



    TORONTO, Dec. 4 /CNW/ - Valdez Gold Inc. (VAZ-TSXV, the "Company" or
"Valdez") reports that the Letter of Intent, announced May 25, 2007, between
Valdez' wholly-owned subsidiary, Minera Valdez Gold, SA de CV ("Minera
Valdez") and Minas Penoles S.A. de C.V. ("Penoles") to form a Joint Venture
(JV) on Valdez' Los Jarros property in the province of Chihuahua, Mexico has
expired without the signing of a final agreement. As such, Valdez will pursue
exploration activities on the Los Jarros properties on its own.
    Valdez President Michael Skead commented, "The Los Jarros and Jarros
Norte claims have excellent potential and management will be implementing a
systematic exploration programme in 2008 in order to maximize the full value
of these claims."
    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.

    %SEDAR: 00001127E




For further information:

For further information: Valdez Gold Inc., Mark Goodman, CEO, Tel: (416)
482-9038, Fax: (416) 924-7997

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VALDEZ GOLD INC.

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