Intention To Grant Stock Options

Q-Gold Resources LTD. Announces Intention To Grant Stock Options

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

April 12, 2006
Q-Gold Resources Ltd. (the “Corporation”) announces that, upon completion of the previously announced proposed financing of up to $1,500,800 with Canaccord Adams, it intends to grant 100,000 stock options to each of Eugene Chen and Wayne Young, 80,000 stock options to each of J. Bruce Carruthers II, John A. Bolen and William F. Mudon, all directors of the Corporation, and 80,000 stock options to Eric A. Gavin, Chief Financial Officer of the Corporation.  The stock options will be exercisable for a period of five years from the date of the grant at a price of $0.26 per share.

For more information, please contact: Eric A. Gavin, Chief Financial Officer 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.