Initiation Of Trading On Frankfurt Exchange

Gold Resources Ltd. Announces Initiation Of Trading On Frankfurt Exchange.

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

June 21, 2006
Q-Gold Resources Ltd. (“Q-Gold” or the “Corporation”) announced that the Corporation’s common shares began trading on the Regulated Unofficial Market (the “Open Market”) of the Frankfurt Stock Exchange (Frankfurter Wertpaperbörse) effective on Friday, June 16th.  Q-Gold now trades under the German Symbol “QX9”.  The Corporation’s common shares are also listed for trading on the TSX Venture Exchange under the symbol “QAU”. 

J. Bruce Carruthers II, Chairman and CEO, also reported that diamond drilling on the Corporation’s 22,360 acres of gold and base metals mining claims and leases near Mine Centre, Ontario has begun.  Initial drilling is located on a series of electromagnetic (conductive) anomalies indicated from both airborne and ground geophysical surveys, which are co-incident with mineralized shear zones in the vicinity of the historic Golden Star Mine.

The Golden Star Mine produced in excess of 10,000 ounces of gold in the late 1890s from one vein.  Thirteen unexplored veins remain in the Golden Star complex which will be the object of trenching and diamond drilling during Q-Gold’s current Exploration Work Program at Mine Centre.

For more information, please contact: J. Bruce Carruthers II, Chief Executive 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.