Property Acquisition

Q-Gold Resources Ltd. (“QAU”: TSX-V) Announces Property Acquisition

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

March 13, 2006
Q-Gold Resources Ltd. (“Q-Gold” or the “Corporation”) announced today that it has exercised its option to acquire full title to a 5,840 acre tract of gold and base metals mining claims known as the “Cousineau Tract” (the “Tract”), which is contiguous to the Corporation’s existing Foley and Golden Star gold mining claims near Mine Centre in Northwestern Ontario.   The agreement permits Q-Gold to complete a 100% purchase of the Tract by paying the final option payment of $75,000 in Q-Gold shares.  The Corporation initially obtained the option as the result of a reverse takeover that was completed in September 2005.  Under the terms of the agreement, the original owners of the Tract are to receive 375,000 common shares of Q-Gold at a deemed price of $0.20 per share and will also retain a 2.5% Net Smelter Return (NSR).  The agreement and the issuance of these shares are subject to the approval of the TSX Venture Exchange (the “Exchange”).

The Tract is described in detail in a technical report prepared by Northwest Mineral Development Service of Kenora, Ontario under National Instrument 43-101 which was filed with the Exchange and on SEDAR (www.sedar.com).

Q-Gold believes that the Cousineau Tract has potential for classic deformation-zone hosted gold deposition based on the structural features, alteration and sulphide mineralization associated with the documented gold deposits of this area. Previous work on this Tract suggests that the three gold showings along strike with each other: the Alice “A”, the Gold Bug, and the Emma Abbott lie within a major structural feature, with related alteration and sulphide mineralization that has a strike length of at least one mile.

Also, the Corporation considers this Tract to be a prospective host for Archean-type volcanogenic massive sulphide deposits because of the nature of the volcanic rocks and related alteration and mineralization underlying the Tract. The presence of scattered zinc and copper occurrences throughout the area, and a number of interesting EM anomalies support this conclusion.
 
Q-Gold’s CEO and President, J. Bruce Carruthers II, said “the Corporation is particularly happy to obtain full ownership to this large, highly prospective gold and base metals block, especially in view of heightened exploration activity in the Fort Frances/ Mine Centre area of Ontario by Metalcorp, NuMax and others in recent months.  Several targets on the Cousineau Tract are scheduled for investigation in our 2006 Exploration Program.”

“The Corporation now holds a 100% interest in 19,035 acres of mining claims at Mine Centre, including the historic Foley and Golden Star gold mines, which combined produced over 16,000 ounces of gold in the 1890s and 1930s.”

Q-Gold currently has 13,906,489 shares issued and outstanding and 22,469,489 fully-diluted, prior to the issuance of any shares as contemplated in this press release.

Mr. Richard C. Beard, 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.