Additional Gold Values and New Style Mineralization

Q-Gold Resources Ltd. (“QAU”: TSX-V) Reports Additional Gold Values And New Style Gold-Copper Mineralization At Mine Centre, Ontario

SEC 12g 3-2(b) Exemption # 82-4931

January 10, 2006
Q-Gold Resources Ltd. (“Q-Gold” or the “Corporation”) announced today that it has received more positive results from gold assays on two additional surface veins from its fall 2005 trenching program at its Foley Mine Vein Complex near Mine Centre in Northwestern Ontario. Weighted average of gold values ranging from about 1.0 to 6.5 grams/tonne (“g/t”) have now been established over a minimum strike length of 1000 meters from the five recently trenched gold-bearing quartz veins in the Foley Complex.

A new, significant style of mineralization has also been identified adjacent to the Corporation’s Golden Star Mine Vein Complex, consisting of mineralized, sheared meta-volcanic rocks. A “grab sample” from a 5 meter wide shear zone in the meta-volcanics assayed 2.19 g/t gold and 1.63% copper. This discovery establishes the presence of high grade gold values and base metal mineralization in both felsic (siliceous) intrusive and meta-volcanic rocks, the two dominant rock types on Q-Gold’s property at Mine Centre.

In addition, assays from a “grab sample” taken from within the Golden Star Vein Complex, also located in meta-volcanic rocks at the northeast end of the Shoal Lake Intrusion, has yielded high-grade gold at 6.17 g/t from one of 13 unexplored quartz veins in the Complex.

Both past producing Foley and Golden Star Gold Mines are contained within the Corporation’s 100% owned, 18,740 contiguous acre property at Mine Centre. Numerous gold-bearing quartz veins have also been identified on this property by Q-Gold and by previous other explorers.

Foley Mine Complex
Eleven trenches taken from the South Sulfide Vein, yielded a weighted average of 2.38 g/t of gold and 10.8 g/t silver, over a strike length of 90.0 meters with an average trench width of 0.86 meters.

The final assays from the 2005 fall program on the North Sulfide Vein yielded a weighted average of 1.19 g/t gold, 24.11 g/t silver and 0.38% zinc from 9 trenches, from the main vein, along a strike length of 167.8 meters over an average trench width of 1.47 meters. The “West Splay” of this vein yielded 0.78 and 8.81 g/t of gold and silver, respectively, and 0.46% zinc along an additional strike length of 114.35 meters, with an average trench width of 0.68 meters.

As a result, all five quartz veins recently trenched by Q-Gold in the Foley Mine Vein Complex are consistently mineralized with gold, silver, sphalerite, galena, pyrite, and minor chalcopyrite and bornite. The South and North Sulphide vein contain the lesser amount of gold and silver. The average gold grade of the three previously reported veins in the Complex was 4.2 to 6.2 g/t gold.

Golden Star Mine Vein Complex
Gold production in the 1890’s from the Golden Star Vein totaled 10,750 ounces at a recovered grade of 0.56 ounces/ton. Although the known strike length of this one vein exceeds 1 km, past production only covered 100 meters of this length, to a maximum depth of 100 meters from a single shaft. The thirteen other unexplored veins within the Golden Star Vein Complex will be the subject of future Q-Gold exploration programs. A grab sample taken during last fall’s exploration program, from a one-metre wide unexplored and unnamed vein, assayed 6.17 g/t gold and 8.4 g/t silver.

A second, and very significant, grab sample was taken from sheared, silicified and brecciated mafic meta-volcanic rocks, assayed 2.19 g/t gold, 11.0 g /t silver and 1.63% copper. Eight other similar shear-hosted sulphide zones are known in this area and all have coincident electromagnetic (“EM”) conductors. These shear-hosted sulphide zones form a total strike length of about 1 km in this area. They will form part of Q-Gold’s future surface and drilling exploration programs on the Mine Center Property.

The significance of the latter sample is five-fold:

1. It confirms the presence of gold in one of nine untested sulfide-hosted shear zones within volcanic rocks outside the Foley Mine Complex.
2. These shear zones can be identified and further delineated through standard EM surveys.
3. It establishes the presence of high grade gold values within both the meta-volcanic and felsic intrusive rocks in the Mine Center area.
4. It establishes the presence of both quartz vein and shear-hosted gold, silver and base metal mineralization within both principal rock types on Q-Gold’s mining claims.
5. The above mineralized systems will now provide numerous additional poly-metallic targets for Q-Gold’s future exploration programs on the Mine Centre Property.

Other Matters
As previously announced on November 19, 2005, Q-Gold is working with IBK Capital of Toronto to complete a non-brokered private placement of up to $2.0 million early this year to fund the next phases of its exploration program, the first comprehensive modern investigation ever conducted on its Ontario properties. Proceeds from the private placement will be used in part for airborne and ground geophysics to further delineate the many known EM conductive anomalies on the Mine Centre properties. These anomalies represent potential sulfide bodies which may also be found to be gold-bearing. They will be the object of an extensive future exploratory drilling program.

All assays described above were provided by Swastika Laboratories Ltd. of Swastika, Ontario using the “pulp metallic” assay method.

Mr. Ray Bernatchez, P. Eng., Consulting Geologist, a Qualified Person, as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this press release.

For more information, please contact: J. Bruce Carruthers II, President at (928) 779-0166

This release may contain forward looking statements implying an assessment that the resources described can be produced profitably in the future. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.