Agreement To Purchase Additional Acreage

Q-Gold Resources LTD. Announces Agreement To Purchase Additional Acreage Near Mine Centre, Ontario

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

May 9, 2006
Q-Gold Resources Ltd. (“Q-Gold” or the “Corporation”), today announced that it has reached an agreement to purchase an additional 320 acres of prospective gold and base metals mining claims near Mine Centre, Ontario.  The block of eight 40-acre claims is contiguous on its western border to the Corporation’s extensive existing holdings on the southeastern shore of Bad Vermilion Lake.

The claims were purchased from private parties, one of whom, John A. (Jack) Bolen, is a Director of the Corporation and therefore is a non-arm’s length party in the transaction under TSX Venture Exchange (the “Exchange”) Policy 5.3.  Mr. Bolen recused himself from Board of Directors approval of the Transaction, which is also subject to the approval of the Exchange.

The agreement permits Q-Gold to complete a 100% purchase of the block of mining claims for $25,000, payable in Q-Gold common shares at a deemed price of $0.25 per share, including a market discount as permitted by Exchange Policy 5.3.  The Sellers were also granted a net smelter return (NSR) royalty of 2.5% on minerals produced from these claims.

The claims were the subject of diamond drilling activity in the 1980s and in 1992 by other companies.  Low gold prices precluded further activity on the block.  In the event Exchange approval is obtained, further evaluation of the claims will be included in Phase II of the Corporation’s current Exploration Work Program at Mine Centre.  This consists of an airborne (helicopter) geophysical survey and line-cutting prior to ground geophysical surveys, both of which are now in progress.

Approval of this transaction will add 320 acres to the Corporation’s existing 22,040 acres of Archean Greenstone Belt gold and base metal mining claims, Crown Leases and patented claims at Mine Centre, making a total position of 22,360 acres.

Q-Gold also announced that it has executed a diamond drilling contract with NorthStar Drilling Ltd. of Brandon, Manitoba, for a minimum of 1,500 metres of “NQ” (large diameter) drill core. President and CEO, J. Bruce Carruthers said, “We are indeed fortunate to have a NorthStar rig available, beginning in mid-June, to drill a number of existing electromagnetic (EM) anomalies on our Mine Centre properties, as well as those indicated as a result of the current airborne and ground geophysical surveys noted above.”

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.