Dear Q-Gold Shareholders,

In our ongoing efforts to provide market information and/or commentary, we are pleased to provide you, with Industry Sector Bulletins discussing current market opinions regarding Gold.

Regards,
AGORACOM

INDUSTRY BULLETIN: Job woes? Experts say gold mining to become a growth industry amid recession

By Amy Fuller

Job seekers watching employment prospects wither and lay-offs mount amid the recession might consider joining the gold rush, and a northern Ontario school is hoping to educate that next wave of underground workers.

Many investors see gold as a hedge against inflation - when the dollar sheds value and can't buy as much, people hoard gold. In recent years, the price has hovered under US$1000 an ounce.

Mining consultant Alan Gorman says base metal prices dropped considerably after the economy collapsed last year. Now, companies are doing more exploration for gold, hoping to revive old mining sites or find new ones in Canada and Africa.

Gorman says companies like Vale Inco, Xstrata and Teck Cominco that primarily produce base metals have either closed mines or made cutbacks over the last nine months. Those that focus on gold, such as Barrick Gold Corp. and Kinross Gold Corp., are "on the upswing."

"In terms of new employment, I'd say you'll probably see more happening with the gold companies."

Someone has to extract the precious metal, and it's not a matter of simply shaking a pan and plucking out the nuggets.

The northern Ontario town of Haileybury is home to a mining school that hopes to benefit from a spike in applications as the gold sector enjoys a bull market.

Don Hillier, a professor at the Haileybury School of Mines about three hours northeast of Sudbury, Ont., runs a mining engineering technician program that prepares students for careers ranging from entry-level to management.

Over the course of two years, students complete modules by watching lectures and reading study guides online. Subjects include math, physics and chemistry, as well as technical communication and safety.

"A mine is like a miniature city," Hillier says, explaining the emphasis on technical coursework. "They can have their own water treatment plant, garages, and some even have their own hydro facilities."

Mines employ a variety of people, from engineers to pipe fitters to welders, "not just mining people per se," Hillier says. "They constitute only about one per cent of the overall workforce."

Until two years ago, the technician program required that students study at the Haileybury campus of Northern College of Applied Arts and Technology. Now, students enrol from as far afield as the Northwest Territories or Alberta.

In many cases, they continue with full-time jobs and study part-time, travelling to Haileybury only two weeks per year for the practical portion of the program.

The new online format is modelled after a graduate mining engineering program at the Missouri University of Science and Technology. Hillier says it works well for parents with school-age kids who can study without uprooting their children.

While he would like to incorporate more hands-on learning, it's difficult to arrange. Students have to take time off work and travel long distances to attend.

In May, three students graduated from the re-vamped technician program. The inaugural class began with 22, but many are studying part-time and will take longer than two years to finish.

Graduate Pamela Sword of Thunder Bay, Ont., came to the program in her mid-40s after a 25-year career as an insurance underwriter. Tired of adjusting to multiple buyouts, she took a voluntary severance package and enrolled at Haileybury.

Online study allowed moves to Sudbury, Marathon and Thunder Bay, Ont., so her husband could focus on his career as a mining co-ordinator. Sword also chose Haileybury for its emphasis on geology, a personal fascination.

She says the program is a good option for people who have been laid off from other sectors, particularly if they have technical experience or live in remote areas with mine facilities nearby. Sword had no technical background and found the math requirements difficult. She studied close to 12 hours a day and graduated with honours.

For the hands-on portion of the program, students wear mine lamps, hard hats, steel-toed boots and reflective overalls. They venture into an old exploration adit, a horizontal tunnel drilled in the side of a hill, to practise checking for loose material and surveying.

"We learned that bats look really large when you're looking through the scope of a total station," Sword says, laughing.

Graduates of the technician program without previous mining experience can expect a starting wage of $45,000 a year, or a minimum of $20 an hour, Hillier says. Companies generally offer bonuses or extra compensation for working in isolated areas.

Sword is now three weeks into a job as a geologist technician with Australian-based Magma Metals Ltd. She says Magma is exploring for precious metals such as gold, platinum, nickel and copper.

"They have a really good showing here in Thunder Bay."

Sword said she loves spending her days with a geologist at camp sites, looking for and identifying minerals.

"When you get magma intrusions and it changes the rock and minerals leak out, it's just, wow."

The work environment is a big change, though. During her first week, she used a four-wheeler to back a boat into a lake with mineral deposits at the bottom. She also carries 20-to 30-kilogram boxes full of rocks.

"Technicians get to do all the hard stuff," she says.

Cambrian College in Sudbury offers a similar two-year mining engineering technician program. Students at Cambrian can extend their studies by one year to study geological engineering technology or mining engineering technology.

Link to Article

Fort Frances, Ontario, June 30, 2009 – Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com) is pleased to announce that it has closed the first tranche of its previously announced non-brokered flow-through private placement (the "Offering") with Toronto-based mining fund, the MineralFields Group (“MineralFields”) for gross proceeds of $400,000.

Pursuant to the Offering, the Corporation issued 10,000,000 units ("Units") at a price of $0.04 per Unit. Each Unit consists of one common share of the Corporation issued on a “flow-through” basis (a "Flow-Through Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to acquire one additional non-flow-through common share at an exercise price of $0.06 within 12 months from issuance and $0.10 thereafter within 24 months of issuance.

Also, pursuant to the Offering, the Corporation paid Limited Market Dealer Inc. ("LMDI"), a cash finder's fee of $20,000 and issued 1,000,000 finder’s fee warrants ("Finder's Warrants"). Each Finder’s Warrant entitles the holder to acquire one Unit (a “Finder’s Unit”) at an exercise price of $0.04 for a period of 24 months from issuance. The Finder’s Units issuable upon exercise of the Finder's Warrants are comprised of one common share and one-half of one Warrant.

All securities issued in connection with the Offering will be subject to a four month restriction from resale as stipulated under applicable securities legislation and the TSX Venture Exchange. It is contemplated that the Flow-Through Shares will entitle the holders to a 100% CEE tax deduction as set forth under the Income Tax Act (Canada).

Proceeds from the Offering will be used by Q-Gold for continued gold exploration on the Corporation’s 30,000+ acres of patents, Crown leases and Crown mining claims in the historic (1890’s) gold camp at Mine Centre, Ontario.

Bruce Carruthers, President and CEO of Q-Gold, remarked, “I am very pleased to be resuming our relationship with the Mineralfields Group in financing our gold exploration efforts at Mine Centre, Ontario. Since December 2006, Mineralfields has now provided four financings for our company totaling over $2.5 million.”

About MineralFields, Pathway and First Canadian Securities ®

MineralFields Group (a division of Pathway Asset Management), based in Toronto and Vancouver, is a mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds (including the Pathway Multi Series Funds Inc. corporate-class mutual fund series). Information about MineralFields Group is available at www.mineralfields.com. First Canadian Securities ® is active in leading resource financings (both flow-through and hard dollar PIPE financings) on competitive, effective and service-friendly terms, and offers investment banking, mergers and acquisitions, and mining industry consulting, services to resource companies. MineralFields and Pathway have financed several hundred mining and oil and gas exploration companies to date through First Canadian Securities ®.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its 30,000+ acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. It also has options on 4,796 exploratory acres in Ontario’s Rainy River Greenstone Belt. In addition, the Corporation holds options on seven historic gold and silver mines in the historic Arizona gold camp of Crown King, and two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company’s expectations and projections. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

Corporate Inquiries
Q-Gold Resources Ltd. J.
Bruce Carruthers II, President
1-888-779-0166
http://www.qgoldresources.com

Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/Q-Gold
QAU@Agoracom.com

FORT FRANCES, ONTARIO-(June 18, 2009) - Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com) is pleased to announce that it has received assay results from 39 surface trench samples taken from the "Baseline Vein" on its over 30,000 acres of 100% owned prospective gold patents, Crown Leases and Mining Claims in the historic (1890's) gold camp of Mine Centre, Ontario. Weighted average assay values for the 39 samples equalled 11.8 grams/ tonne (g/t) of gold and 13.6 g/t of silver. Several high-grade intervals were intersected, including two samples yielding gold values at 84.1 and 44.5 g/t and silver at 32.0 and 39.0 g/t, respectively. Four other high-grade samples yielded gold from 19.5 to 24.0 g/t and silver from 21.0 to 34.0 g/t.

The results tabulated below represent surface samples collected from two separate areas along the exposed trace of the vein. Area One (i.e. 55018-55020) returned 12.37g Au and 13.47g Ag over an average vein width of 0.83m and a strike length of 25 meters. A total of 93.5 kg of sample material collected from Area Two (55017, 55021-55048) returned 11.61g Au and 15.19g Ag over a strike length of 15m. This section of the vein had been extensively blasted during an earlier program and a 1m x 1m continuous grid was established for sample control.

The results of additional infill sampling between Areas One and Two are pending. The Baseline Vein is exposed along strike in both directions and remains to be sampled.

Assays were performed by ALS Chemex Division (Vancouver) of ALS Canada Ltd., using Au 30g Fire Assay AA finish for gold and Ag-0G62 Aqua Regia Digestion for silver.

President and CEO, Bruce Carruthers, commented that "Q-Gold is pleased to uncover an additional high-grade gold and silver zone at Mine Centre. This new zone compliments our five historic gold mines, including past producers, the Foley and Golden Star, and at least 11 additional principal gold-bearing quartz veins controlled by Q-Gold which, as previously reported, have been trenched and sampled as we continue to explore and discover the gold and silver potential of the Mine Centre area, where over 100 quartz veins on Q-Gold's properties have recorded gold values."

Kevin Leonard, P.Geo., is the Qualified Person as defined under NI 43-101 who took the samples and prepared them for assay. He has reviewed and approved the technical content of this press release.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its 30,000+ acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. It also has options on 4,796 exploratory acres in Ontario's Rainy River Greenstone Belt. In addition, the Corporation holds options on seven historic gold and silver mines near Crown King, Arizona and three prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Q-Gold Resources Ltd.
Corporate Inquiries
J. Bruce Carruthers II
President
1-888-779-0166
Website: www.qgoldresources.com

or

AGORACOM Investor Relations
Investor Relations
Email: QAU@Agoracom.com
Website: www.agoracom.com/IR/Q-Gold

FORT FRANCES, ONTARIO-(June 11, 2009) - Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com) is pleased to announce that it has executed a Mineral Processing Agreement with private parties entitling the Corporation to the exclusive right to process an estimated 100,000+ tons of stacked surface material which emanated from the historic Crown King Gold/ Silver Mine in the Bradshaw Mountains of Yavapai County, Arizona (the "Deposit").

According to historical reports, the Crown King Mine was one of the richest of over 2,000 gold and silver mines that existed in the Bradshaws from 1870 to 1912, when World War I terminated most mining activities. By 1920, over 400 million Dollars worth of gold and silver bullion reportedly had been shipped from Crown King (with gold value at $20.67/ ounce and silver at $1.08/ ounce). Although early production records are difficult to obtain (Arizona only became a U.S. state in 1912), U.S. Geological Survey Bulletin 782, Ore Deposits of the Jerome and Bradshaw Mountains Quadrangles, Arizona (1926), Waldemar Lingren, Author, on p. 168, contains the following quotation: "The Crown King group of eight claims, which has yielded a higher (bullion) production than any other deposit in the (Pine Grove) District. The figure given is $1,200,000". In 1904, a narrow gauge railroad was completed to permit shipment of Crown King ore and concentrates from the mountains to the valley below for processing. This data is not compliant with the requirements of NI 43-101 and is therefore unreliable. As a result, no verifiable ore reserve or mineral resource estimates can be provided for the properties at this time.

Q-Gold's agreement, in return for a cash payment to owners, allows the Corporation to process all mineral materials in the Deposit, which is located on the "Buckeye" Federal Patent that contains the original 1870 gold/ silver discovery shaft at Crown King. The agreement contains a primary processing term of 15 years and one 5-year extension by paying owners five annual advance royalty payments of $25,000 each, which are deductible against a future 1 1/2% net smelter return production royalty, one-half of which is purchasable by Q-Gold for US$ 500,000.

Q-Gold has initiated a trenching and drilling program to test the Deposit. Results from composite vertical channel samples taken on 8 trenches recently dug with a backhoe in the Deposit averaged 7.00 Au grams/ tonne (g/t) and 31.23 Ag g/t, and are detailed as follows. In addition a grab sample from the surface of trench 8 was assayed. Results are as follows:

Art Smith, Geo., consulting geologist and a "qualified person" under NI 43-101, supervised the trenching, sampling and assaying program detailed above and has reviewed and approved the technical content of this portion of this press release.

The Corporation is currently participating in a drilling and sampling program, which will determine average depth and grade of the Deposit, and provide composite samples for further metallurgical analysis and process evaluation.

Q-Gold also announced that, in addition to the ten (Federal) patented mining claims and three U.S. Bureau of Land Management ("BLM") mining claims it optioned last year (see press release dated March 26, 2008), the Corporation, it has acquired options on 3 additional patents at Crown King as well as 3 BLM mining claims in the Pine Grove and Tiger Mining Districts of Yavapai County. The Corporation now holds options on 13 patents and 6 BLM mining claims. Seven historical gold and silver mines are now included in the Company's optioned properties in Crown King's principal historical gold and silver producing units, the "Crown King", "Tiger", "Grey Eagle" and "War Eagle" quartz veins.

In view of the favourable outlook for precious metals prices, Q-Gold intends to focus its attention to existing mines with near-term development potential contained within its gold and silver properties at Mine Centre, Ontario and Crown King, Arizona, while holding its remaining Arizona copper properties for an improvement in the price of copper as the world's economies recover. The Corporation therefore announced that, in conjunction with a mid-year exploration review of its Arizona properties and in view of the dramatic reduction in the copper price over the past year, it has dropped its option on the "Courtland East" coppery porphyry prospect in Cochise County, Arizona (see press release dated October 23, 2008) and renegotiated its package of three Arizona copper prospects (see press releases dated May 27 and August 26, 2008) to obtain more favourable purchase option terms.

At Mine Centre, Ontario, after reviewing its exploratory holdings, the Corporation sold the Iron Ridge (Titano-magnetite) Prospect containing 5 Crown mining claims totalling 1,520 acres, to a private party for cash.

Q-Gold also announced the resignation of Mark Greasley as Director of the Corporation.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and four prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:

Q-Gold Resources Ltd.
Corporate Inquiries
J. Bruce Carruthers II
President
1-888-779-0166
Website: www.qgoldresources.com

or

AGORACOM Investor Relations

Investor Relations
Email: QAU@Agoracom.com
Website: www.agoracom.com

Fort Frances, Ontario, April 8, 2009 – Q-Gold Resources Ltd. (TSX VENTURE:QAU)(FRANKFURT:QX9) (http://www.qgoldresources.com) is pleased to announce that it intends to complete a non-brokered private placement of up to $300,000 of common shares of the Corporation (the "Offering").

The Offering will consist of the issuance of up to 30,000,000 common shares (the "Common Shares") at a price of $0.01 per share for aggregate gross proceeds to the Corporation of up to $300,000.

Finders participating in the Offering, will receive a 10% cash finder's fee on the gross proceeds of the Offering.

Proceeds received from the Offering will be used to repay current payables, to finance general and administrative expenses and for other general corporate purposes.

The completion of the Offering is conditional upon the Corporation receiving all requisite regulatory approvals, including that of the TSX Venture Exchange.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and four prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company’s expectations and projections. The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

CONTACT INFORMATION
Corporate Inquiries
Q-Gold Resources Ltd. J. Bruce Carruthers II, President1-888-779-0166
http://www.qgoldresources.com

Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/Q-Gold
QAU@Agoracom.com

Hedge Fund Investors Turn To Gold In Bet Against Central Banks

By Henny Sender in New York and Javier Blas in London

Published: March 9 2009 02:00 | Last updated: March 9 2009 02:00

Hedge fund investors who made money last year by betting against investment banks are buying gold as a way of betting against central banks.

The gold bulls include David Einhorn, founder of hedge fund Greenlight Capital, who last year came under the spotlight for his short selling of shares in Lehman after arguing that the bank did not have enough capital to offset its exposure to falling property prices.

Other funds looking at gold include Eton Park and TPG-Axon, investors said.

Their belief in bullion is being expressed even as gold prices have retreated from last month's break above the $1,000 an ounce level. Spot gold in London closed on Friday at $939.10, after falling last week to $900.95 an ounce.

Investors such as Mr Einhorn are turning to gold because they are worried about the response of the US Federal Reserve and other central banks to the economic crisis. A bet on gold is a bet against paper currencies.

"The size of the Fed's balance sheet is exploding and the currency is being debased. Our guess is that if the chairman of the Fed is determined to debase the currency, he will succeed," Mr Einhorn wrote to investors.

"Our instinct is that gold will do well either way: deflation will lead to further steps to debase the currency, while inflation speaks for itself."

Mr Einhorn's comments - and the revelation that he is buying gold - are in line with the views held by other institutional investors in Europe, according to bankers in London.

The head of commodity sales at one bullion bank told the Financial Times that he had never been so busy dealing in gold for large investors.

Goldman Sachs, Morgan Stanley and UBSforecast that the gold price would rise above $1,000 this year.

Peter Munk, chairman of Barrick Gold, the largest bullion miner, told investors last week that all countries had embarked on policies that would favour gold.

"The only option to governments is to print and print more money," he said. "That will end in tears."

Hedge funds had avoided gold because it does not produce yield and costs money to store and insure. But that has become less important as central banks have pushed interest rates to nearly zero, reducing the yields on currencies.

"Basic Facts about Gold"-Jim Anthony-Chairman-Seabridge Gold
Friday, 27th February 2009

There are about 5 billion ounces of above ground gold supply worth about USD 5 trillion at current prices. Less than 5% trades annually. The above ground gold supply is growing at about 1.5% annually, the 300 year average.

New gold supply is price inelastic. If you double the gold price, production will fall as miners extend precious mine life by processing lower grades through fixed rate capacity. Building new capacity is the work of decades. Re-opening old mines is difficult and expensive and there are few worthwhile opportunities which have not been exploited. Meanwhile, discovery rates are declining, discovery costs are rising, mines are depleting and production is falling at about 5% per year. The world's best gold deposits have been found and mined.

Gold's highest and best use is in a vault as a store of value. It is not a commodity. Jewelry 'consumption' of gold is a traditional store of value. The industrial/medical uses of gold are diminimus. If gold had important other uses, there would be less of it and the price would be lower because it would be valued as a commodity subject to substitution effects. No other substance has the unique properties and a supply sufficient to act as an ultimate store of value which is why gold has had this role for at least 6000 years.

Gold is therefore a financial asset in physical form and sometimes a currency. It goes up in price when confidence in other financial assets [stocks, bonds] is falling and falls when confidence in these alternatives is rising.

Other financial assets have the advantages of convenience and income. Gold's advantage is that it is final settlement anywhere in the world. Gold backs itself whereas other currencies and financial assets merely represent, and depend upon, the countries and companies which issue them and stand behind them. Gold is a currency without a country or central bank...there is no issuer to inflate supply or default on its obligations.

There are approximately USD 140 trillion in other financial assets world-wide so the current value of above ground gold is about 4% of this total. In 1980, when inflation weakened confidence in stocks and bonds, the ratio was greater than 25%. It currently requires about 8 ounces of gold to buy the Dow, down from 44 in 1999. In 1980, the ratio reached 1 to 1.

Gold has no P/E or other standard valuation metric. Its price can go where the market decides. How much will the owners of USD 140 trillion in financial assets pay to protect themselves from deflation, inflation or default?

James S. Anthony

Sprott Says U.S. Depression Will Boost Gold Price

Feb. 3 (Bloomberg) -- Eric Sprott, the Canadian money manager who last year predicted banking stocks would collapse, said the U.S. is at the beginning of an economic depression that will help gold prices more than double.

Bullion may top $2,000 an ounce in coming years amid a series of financial catastrophes, the chairman and founder of Toronto-based Sprott Asset Management Inc. said yesterday in an interview. Banks will battle to replenish capital, Treasury auctions stand the risk of failing and the moribund economy will create a dire operating outlook for many companies, he said.

“The trend is down, and there’s not one signpost that says it’s changing yet,” Sprott said yesterday from Toronto. “We’ll stand by to wait to see those, and until it does, you have to assume it gets worse.”

Sprott, who manages $4.5 billion, said in March that the world was in a “systemic financial meltdown,” a call that presaged the collapse of financial institutions including Bear Stearns & Co. and Lehman Brothers Holdings Inc. Since then, the U.S. has entered the worst economic slowdown since the Great Depression, credit markets have tightened and asset prices have dropped as companies and funds sell portfolios to raise cash.

The 81-company Standard & Poor’s 500 Financials Index has dropped 62 percent since Sprott said on March 6 he was buying bullion and gold-producers’ shares, while shorting financial- sector stocks. Gold slipped 6.3 percent during the same period.

So-called short-selling allows speculators to profit from a stock’s decline by borrowing shares, selling them to raise cash and buying them later when the price drops to repay the debt.

Sprott Funds

Sprott Hedge Fund LP posted a one-year return of 9.9 percent, while Sprott Hedge Fund LP II rose 18 percent in the period, according to data posted on the company’s Web site. The Sprott Canadian Equity Fund dropped 37 percent.

Sprott now favors buying more gold stocks and bullion while selling the entire equity market short. Most at risk in the current climate are banks, discretionary consumer stocks and any companies needing to refinance debt, he said.

Sprott believes there is a chance that a U.S. Treasury auction will fail as countries use their resources to quell financial turmoil in their home markets, leaving less to help finance the world’s largest economy. That outcome will have a “catastrophic” impact, he said.

“When do people stop buying the credit of the country? That’s a tough question to answer, but it’s on a lot of people’s lips right now,” he said. “Each country has their own financial problem, so there’s no funding for anything external.”

Gold Investors

Such concerns have driven investors to the gold market, propelling the metal higher as other commodities have slumped and helping gold-producers’stocks almost double in the past three months.

Greenlight Capital Inc., a $5.1 billion New York-based hedge fund, has invested in gold for the first time, while Federated Investors Inc.’s $1.3 billion Federated Market Opportunity Fund, which outperformed 99 percent of rivals last year, now countsYamana Gold Inc. and Goldcorp Inc. among its largest investments.

Gold companies such as Newmont Mining Corp. and Kinross Gold Corp. have taken the opportunity to issue stock to bolster their own balance sheets.

Barrick Gold Corp. Chairman Peter Munk said last week he has been inundated with calls from wealthy investors seeking to buy gold to protect their capital.

“The window to raise money for gold stocks has blown open,” Sprott said. “The investing public has started to go to that one thing that they think it’s safe to invest in.”

Dear Investors,

Gold futures surged Friday, briefly topping $800 an ounce for the first time in more than a month, as wary investors returned to the safety of the precious metal. Gold for December delivery rallied $43.10, or 5.8%, to end at $791.80 an ounce on the Comex division of the New York Mercantile Exchange. It jumped 7.1% to $801.90 earlier, rising to above $800 for the first time since Oct. 16. The benchmark contract ended the week up 6.6%, the biggest weekly percentage gain since the week ended Sept. 19.

Click here to view the AGORACOM Blog.

Regards,

AGORACOM Investor Relations

Dear Investors,

Last night at the AGORACOM sponsored Roth China/Vegas Conference, keynote presenter Jim Rogers stated that “Gold will hit its inflation adjusted high of $2200.”

George Tsiolis, President of AGORACOM was in attendance at this exclusive event and reported on the Jim Rogers speech live via his cell phone to his twitter account. For a recap of Jim Rogers’ speech, follow the following link to George’s twitter account and/or his blog.

Follow George’s Twitter

George’s Blog

AGORACOM remains very bullish on Gold, as outlined within George’s extensive “Gold $1,000” blog entries.

Regards,
AGORACOM

FORT FRANCES, ONTARIO--(Oct. 23, 2008) - Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com) announced that it has acquired an option from Bronco Creek Exploration Inc. ("BCE") to purchase a 100% undivided interest in the mineral and surface rights to mining claims containing two large Arizona porphyry copper prospects.

Arizona is the United States' leading copper producing state, with production worth over $5.5 billion in 2007.

The first prospect, "Courtland East", is located in Cochise County, approximately 15 miles north of the town of Bisbee, on the east side of the historic Courtland-Gleeson mining district, which produced high-grade copper/ gold ores from replacement bodies in Paleozoic sedimentary rocks. Using a new structural model BCE believes that large portions of a dismembered porphyry copper system in the district may lie to the east/ northeast of the historic district within the land position under option to Q-Gold. This consists of 4,995 acres of Arizona State Exploration Permits and 18 unpatented U.S. Federal Lode Mining Claims.

The second copper porphyry target, "Mesa Well", lies in Graham County along a regional trend of porphyry copper mineralization that stretches from the Safford District (Freeport McMoRan) to the San Manuel District (BHP-Billiton). The Mesa Well area is strongly enriched in metals including copper and gold. This is evidenced by the presence of numerous historic mines, prospects and outcrops with copper oxide mineralization along the western flank of the Pinaleno Mountains, which adjoins the optioned property to the East. The Mesa Well porphyry target lies just south of the Klondike District, a past producer of copper, lead and zinc mineralization from skarn and replacement deposits in limestones and porphyry-like occurrences.

The Mesa Well porphyry target was developed when a significant molybdenum anomaly (a minor but profitable constituent of most copper porphyries) was recognized in water well data from the property. Further investigation revealed a Laramide-Age dike swarm (a common feature of copper porphyries) exposed nearby in the Pinaleno Mountains projecting directly toward the molybdenum anomaly, enhancing the target. Copper oxide mineralization is exposed in faults developed along the projection of the dike swarm. The optioned property at Mesa Well encompasses 4,850 acres of Arizona State Exploration Permits. Both properties contain multiple, permitted locations which are ready to drill.

To obtain a 100% undivided interest in the Properties, Q-Gold has agreed to the schedule of cash payments, common share issuances, work commitments and advance royalty payments shown below, the initial cash payments of which have already been made. BCE is also entitled to a 2.5% Net Smelter Return ("NSR") production royalty.

Pursuant to the terms of the Option Agreement, Q-Gold can earn a 100% interest in each property by spending US$ 1.5 million in work, making cash payments totaling US$ 175,000 and issuing 500,000 common shares for each property over a three year period. Once the option is exercised, the properties will be subject to annual advance royalty payments of US$ 125,000 in September 2012 and 2013, increasing to US$ 150,000 and US$ 175,000 in 2014 and 2015, respectively, and US$ 200,000 annually thereafter. The annual advance royalty payments are creditable against BCE's NSR. In addition, the Company would issue an additional 1.5 million common shares to BCE for each property after exercising the option.

The Purchase Option Agreement is subject to the approval of the TSX Venture Exchange.

The optioned properties will be combined with previously announced optioned copper properties (see press releases dated August 26 and May 27, 2008) the "Ray" and "Troy" prospects and the Pinafore Mine, in a new 100%-owned subsidiary "Mineral Creek Copper Corp.".

President and CEO, Bruce Carruthers commented, "Although the copper price has dropped in the past few months, the long-term outlook is still favorable, with older, depleting mines, Asian demand and alternative energy requirements all pointing to long-term shortages of copper."

Brian A. Beck PG, CRS, Consulting Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this press release.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and four prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

CONTACT INFORMATION:

Corporate Inquiries
Q-Gold Resources Ltd.
J. Bruce Carruthers II, President
1-888-779-0166
Website: www.qgoldresources.com

or

Investor Relations

AGORACOM Investor Relations
Email: QAU@Agoracom.com
Website: www.agoracom.com/IR/Q-Gold

On September 15, we announced the commencement of 30-second television ads on Bloomberg and CNBC in the United States, as well as, BNN in Canada. Unlike search engine marketing, it can be used to be hard to measure the effectiveness of offline branding campaigns because potential new visitors don’t call you. If we were specifically marketing our IR services, you could measure the number of prospect calls or web inquiries.

Fortunately, we now have Google Trends. Google Trends analyzes how many searches have been done for a specific term, relative to the total number of searches for that specific term over time. In this case, I wanted to see the search trend for “AGORACOM” in the United States.

In order to make comparisons easy and put them in relative terms, Google assigns the searches over time a baseline score of 1.00. As such, anything above 1.00 since September 15 is a good sign and anything below 1.00 is a bad sign. How good or bad would depend on how far off 1.00 the trend is.

So what is the trend for AGORACOM so far? A Google Trends chart is worth 1,000 words:

The spike is so big that the baseline of 1.00 looks like we had no searches at all in 2008 when, in fact, the spike meant the chart had to be set to increments of 10. To put this into perspective, Imagine what the chart of a small-cap stock would look like if it was trading pretty healthy in and around $1.00 for most of the year and then suddenly spiked to almost $20.

I do concede this is still early and we will have to check this again in 30 days - but we are off to a great start.

AMERICANS SEARCHING FOR “GOLD STOCKS”

If you want to take a look at your own trends, go here. You can view a search trend for the entire world or for a specific country. The caveat is that Google Trends doesn’t give you reports on thinly traded search terms. As such, if your corporate name doesn’t register, try things like your industry. For example, I queried “Gold Stocks” and the following tells me that Americans are becoming VERY interested in them!

If you are a small-cap CEO and don’t recognize the power of Web 2.0 by now, I give up

Regards,
George

FORT FRANCES, ONTARIO - (Sept. 29, 2008) - Q-Gold Resources Ltd. (TSX VENTURE:QAU)(FRANKFURT:QX9) (http://www.qgoldresources.com) announced that at its Annual General Meeting of Shareholders held in Calgary on September 18, 2008, all matters submitted for vote, as contained in the Management Information Circular, were passed.

Effective September 19, 2008, Henry M. Meixner announced his resignation from the Board. The Board of Directors now consists of J. Bruce Carruthers II, Eugene Chen, Mark Greasley, William F. Mudon, and Wayne G. Young.

The Corporation also announced that eight underground samples from the "Jumbo" Vein encountered at the de-watered 150' level of the Foley Gold Mine near Mine Centre, Ontario. These include two mini-bulk samples of 67 and 57 pounds respectively, which have been sent for analysis to ALS Chemex to determine gold, silver and other metals content. Assay results will be announced when received from the laboratory.

De-watering activities at the Foley Mine have been suspended awaiting the procurement and installation of new equipment as required at depth. The Company will provide an update on the de-watering program once it resumes.

Kevin Leonard, P.Geo., Consulting Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this press release.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

For more information, please contact

Dear Shareholders,
In an effort to keep you up to date on all pertinent information regarding the resource sector and more specifically the supply demand fundamentals of gold bullion, please see the latest AGORACOM Blog entry titled, "Bloomberg - Gold May Hit $950 As Central Banks and Miners Hold Back Sales."

Gold is up $64 to $844 as of 12:15 PM EST. I could end this post here and that one sentence could be the entire story.

However, like a good infomercial, “there is more!”. Specifically, Bloomberg is running a story that gold may hit $950 by the end of the year “as central banks and miners hold back sales and investors buy the metal as a haven against falling stock prices.”

The good news for gold bugs is that a $950 price isn’t tethered to simply a shaky stock market. Otherwise, a market turnaround on its own could quell the gold rush.

Rather, London-based researcher GFMS Ltd. states that Central Bank sales will drop 46 percent in 2008, while mine supply will decline for a third year. Specifically, with respect to mine supply, global mine production will drop 2.3 percent this year to 2,422 tons, the lowest since 1996 That is going to put great pressure on an already string tight supply issue.

Moreover, GFMS believes demand from investors worldwide will soar 38 percent to 778 metric tons, with purchases in east Asia more than doubling.

GRANDICH HITS THE NAIL ON THE HEAD AGAIN

If I didn know any better, I would think that Peter Grandich single-handedly sets the price of gold. For about the zillionth time over the last 3 years, Grandich once again pegged an overextended gold price (oversold or overbought) when he made this statement just 5days ago in his newsletter:

“I have just recorded the single most oversold condition for Gold since the great
bull market began at the start of this decade”

After a brief hiatus, it looks like gold is back and possibly stronger than ever.

Regards,
AGORACOM

This will include surveying, mapping, sampling, assaying of existing drifts and core drilling to attempt to locate gold resources and reserves in old and new ore veins and shoots. "Stopes", which were incurred on both levels, represent the only areas mined out during the period from 1898 to 1900, prior to all surface mining structures in the area being destroyed by a forest fire. De-watering and rehabilitation of the Mine's North Shaft will continue in this phase of the operation until the 400 foot level is reached where an extensive network of drifts, which connect the five principal veins known to exist in the Foley System, will then be extensively explored.

The Corporation also is pleased to announce the appointment of geologist Kevin Leonard as Manager of Exploration for Q-Gold's 100 percent-owned subsidiary, Q-Gold (Ontario) Ltd. Mr. Leonard brings 30 years of gold and base metals experience to the Corporation and has worked for both senior and junior resource companies. These include LAC Minerals, Barrick Gold Corporation and most recently, Blackstone Ventures Inc. Mr. Leonard is registered to practice with the Association of Professional Geologists of both Ontario and Quebec. He is also a "Qualified Person" under the requirements of NI 43-101.

Q-Gold also announced that it has exercised a Due Diligence Option and has entered into a Purchase Option Agreement to acquire a 100% interest in a package of three Arizona copper prospects as described in a press release dated May 27, 2008. The package includes two Southeastern Arizona copper porphyry and one volcanogenic massive sulfide (VMS) prospect, the latter being prospective for both copper and zinc. The Ray Prospect is located on the Eastern slopes of the Ray Open Pit Mine, a copper porphyry operated by ASARCO at a rate of 225,000 tons of copper ore per day. The Troy copper porphyry prospect is located approximately 4 miles to the southeast of the Ray Mine on Haley Mountain. The Pinafore Mine (located in Western Arizona on the flanks of the Bagdad Mine, Arizona's third largest copper producer, operated by Freeport McMoran) is a copper/zinc VMS prospect. The Pinafore was discovered in 1992 through drilling by a syndicate led by Placer Dome and later dropped because of a restricted land position, which has now been remedied by Q-Gold. The three Arizona properties are more-fully described in the press release denoted above.

Terms of the Purchase Option Agreement are as follows:

- Option Term: 5 years

- Cash Payment (paid): US$ 66,000

- Semi-Annual Cash Payment: US$ 25,000

- To Purchase 100% Interest: US$ 1,500,000 in cash plus Issuance of Q-Gold

common shares equal to US$ 1,500,000 in value

The Purchase Option Agreement is subject to the approval of the TSX Venture Exchange.

President and CEO, Bruce Carruthers, remarked, "Q-Gold is pleased to be able to obtain these attractive copper prospects at a relatively low entry cost. Upon approval, we look forward to exploring and drilling these Arizona properties in the near future."

Mr. Carruthers continued, "The price outlook for copper remains high. Chinese copper demand, equal to one quarter of total world demand, is continuing to be strong, based on China's sizable requirements for large infrastructure projects now underway and in the future. The worldwide quest to reduce dependence on oil will also inevitably increase the demand for copper for electric cars, motors and electricity storage and transmission components in conjunction with renewable energy development. Thus, a bright future exists for the copper industry."

Kevin Leonard, P.Geo., Consulting Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this press release.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

The Corporation issued 937,500 "flow-through" units at a price of $0.08 per unit (the "FT Units") and 1,266,666 "non-flow-through" units at a price of $0.06 per unit (the "NFT Units"). Each FT Unit consists of one flow-through common share of the Corporation (a "Flow-Through Share") and one-half of one common share purchase warrant (a "FT Warrant"). Each full FT Warrant will entitle the holder to purchase one additional common share of the Corporation (a "Common Share") at a price of $0.12 for a period of 24 months from the date of issuance. Each NFT Unit consists of one Common Share of the Corporation and one-half of one Common Share purchase warrant (a "Warrant"). Each full NFT Warrant will entitle the holder to purchase one additional Common Share of the Corporation at a price of $0.10 for a period of 24 months.

Three insiders of the Corporation subscribed for 200,000 NFT Units and 100,000 FT Units.

Q-Gold paid a cash finder's fee of $3,680 and granted 70,750 finder's flow-through warrants (the "Finder's FT Warrant") and 52,667 finder's warrants (the "Finder's Warrant") in connection with the closing of the second tranche of the Offering. Each Finder's FT Warrant is exercisable at $0.08 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the FT Warrant. Each Finder's Warrant is exercisable at $0.06 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the Warrant.

The securities issued in connection with the closing of the second tranche of the Offering cannot be resold prior to December 14, 2008, as stipulated under applicable securities legislation and the TSX Venture Exchange policies.

Proceeds received by the Corporation from the FT Units will be used for the dewatering and rehabilitation of the 100%-owned historic Foley gold mine (see Press Release dated June 18, 2008) near Mine Centre, Ontario and for general exploration on the company's other mining claims and patents in Northwestern Ontario. Proceeds from the NFT Units will be used for exploration of Q-Gold's other mining claims and patents in Arizona and for general working capital purposes. All the funds raised from the issuance of the FT Units will be used for exploration activities in Canada and will constitute Canadian exploration expenses (as defined in the Income Tax Act), which will be renounced by Q-Gold.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

CONTACT INFORMATION:

Corporate Inquiries
Q-Gold Resources Ltd.
J. Bruce Carruthers II
President
1-888-779-0166
Website: www.qgoldresources.com

or

Investor Relations
AGORACOM Investor Relations
Email: QAU@Agoracom.com
Website: www.agoracom.com/IR/Q-Gold

The Corporation issued 2,481,500 "flow-through" units at a price of $0.08 per unit (the "FT Units") and 2,384,000 "non-flow-through" units at a price of $0.06 per unit (the "NFT Units"). Each FT Unit consists of one flow-through common share of the Corporation (a "Flow-Through Share") and one-half of one common share purchase warrant (a "FT Warrant"). Each full FT Warrant will entitle the holder to purchase one additional common share of the Corporation (a "Common Share") at a price of $0.12 for a period of 24 months from the date of issuance. Each NFT Unit consists of one Common Share of the Corporation and one-half of one Common Share purchase warrant (a "Warrant"). Each full Warrant will entitle the holder to purchase one additional Common Share of the Corporation at a price of $0.10 for a period of 24 months.

Q-Gold paid a cash finder's fee of $27,324.80 and granted 248,150 finder's flow-through warrants (the "Finder's FT Warrant") and 238,400 finder's warrants (the "Finder's Warrant") in connection with the closing of the second tranche of the Offering. Each Finder's FT Warrant is exercisable at $0.08 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the FT Warrant. Each Finder's Warrant is exercisable at $0.06 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the Warrant.

The securities issued in connection with the closing of the second tranche of the Offering cannot be resold prior to December 1, 2008, as stipulated under applicable securities legislation and the TSX Venture Exchange policies.

Proceeds received by the Corporation from the FT Units will be used for the dewatering and rehabilitation of the 100%-owned historic Foley gold mine (see Press Release dated June 18, 2008) near Mine Centre, Ontario and for general exploration on the company's other mining claims and patents in Northwestern Ontario. Proceeds from the NFT Units will be used for exploration of Q-Gold's copper, gold and silver mining claims and patents in Arizona and for general working capital purposes. All the funds raised from the issuance of the FT Units will be used for exploration activities in Canada and will constitute Canadian exploration expenses (as defined in the Income Tax Act), which will be renounced by Q-Gold.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

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

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

For more information, please contact

Q-Gold Resources Ltd.

J. Bruce Carruthers II

President

1-888-779-0166

Website: www.qgoldresources.com

or

AGORACOM Investor Relations

Website: www.agoracom.com/IR/Q-Gold

Email: QAU@Agoracom.com

Pursuant to the closing of the first tranche of the Offering, the Corporation issued 831,250 "flowthrough" units at a price of $0.08 per unit (the "FT Units"). Each Unit consists of one flow-through common share of the Corporation (a "Flow-Through Share") and one-half of one common share purchase warrant (a "FT Warrant"). Each full FT Warrant will entitle the holder to purchase one additional common share of the Corporation (a "Common Share") at a price of $0.12 for a period of 24 months from the date of issuance. In addition, the Corporation issued 1,000,000 "non-flow-through" units at a price of $0.06 per unit (the "NFT Units"). Each NFT Unit consists of one common share of the Corporation and one-half of one common share purchase warrant (a "Warrant"). Each full NFT Warrant will entitle the holder to purchase one additional common share of the Corporation at a price of $0.10 for a period of 24 months.

Q-Gold paid a cash finder's fee of $10,120 and granted 16,625 finder's flow-through warrants (the "Finder's FT Warrant") and 20,000 finder's warrants (the "Finder's Warrant") in connection with the closing of the first tranche of the Offering. Each Finder's FT Warrant is exercisable at $0.08 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the FT Warrant. Each Finder's Warrant is exercisable at $0.06 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the Warrant.

The securities issued in connection with the closing of the first tranche of the Offering cannot be resold prior to November 19, 2008, as stipulated under applicable securities legislation and the TSX Venture Exchange policies.

Proceeds received by the Corporation from the FT Units will be used for the dewatering and rehabilitation of the 100%-owned historic Foley gold mine (see Press Release dated June 18, 2008) near Mine Centre, Ontario and for general exploration on the company's other mining claims and patents in Northwestern Ontario. Proceeds from the NFT Units will be used for exploration of Q-Gold's other mining claims and patents in Arizona and for general working capital purposes. All the funds raised from the issuance of the FT Units will be used for exploration activities in Canada and will constitute Canadian exploration expenses (as defined in the Income Tax Act), which will be renounced by Q-Gold.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines, and 4,796 exploratory acres in the Rainy River Greenstone Belt. The Corporation also holds an option on six historic gold and silver mines near Crown King, Arizona and options on two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

CONTACT INFORMATION:

Q-Gold Resources Ltd.
J. Bruce Carruthers II
President
1-888-779-0166
Website: www.qgoldresources.com

or

Investor Relations
AGORACOM Investor Relations
Email: QAU@Agoracom.com
Website: www.agoracom.com/IR/Q-Gold

The Offering will consist of up to:

(1) 5,000,000 flow-through Units (the "FT Units") for aggregate gross proceeds of up to $400,000; and

(2) 3,333,334 non-flow-through Units of the Corporation (the "NFT Units") for aggregate gross proceeds of up to $200,000.

The Offering will consist of the issuance of up to 5,000,000 FT Units at a price of $0.08 per FT Unit, each FT Unit being comprised of one common share of the Corporation (a "Common Share") issued on a "flow-through basis" pursuant to the Income Tax Act (Canada) and one-half of one transferable Common Share purchase warrant (an "FT Warrant"). Each whole FT Warrant shall entitle the holder thereof to purchase one Common Share at a price of $0.12 for a period of 24 months from the date of issuance of the FT Unit.

The Offering will also consist of the issuance of up to 3,333,334 NFT Units at a price of $0.06 per NFT Unit, each NFT Unit being comprised of one Common Share and one-half of one transferable Common Share purchase warrant (an "NFT Warrant"). Each whole NFT Warrant entitles the holder thereof to purchase one additional Common Share of the Corporation at a price of $0.10 for a period of 24 months from the date of issuance of the NFT Unit. All securities issued pursuant to the Offering will be subject to a hold period of four months and one day from the date of closing.

Finders participating in the Offering, will receive an 8% cash finder's fee on the gross proceeds of the Offering. They will also receive a Finders' Option allowing them to purchase Finders' Units (the "Finders' FT Units" and "Finders' NFT Units") equal to 10% of the FT Units and NFT Units subscribed for under the Offering.

Each Finders' FT Unit is exercisable at $0.08 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the FT Warrant.

Each Finders' NFT Unit is exercisable at $0.06 per unit and is comprised of one Common Share and one-half of one Common Share purchase warrant, which is exercisable under the same terms as the NFT Warrant.

Proceeds received by the Corporation from the FT Units will be used for the dewatering and rehabilitation of the 100%-owned historic Foley gold mine (see Press Release dated June 18, 2008) near Mine Centre, Ontario and for general exploration on the company's other mining claims and patents in Northwestern Ontario. Proceeds from the NFT Units will be used for exploration of Q-Gold's other mining claims and patents in Arizona and for general working capital purposes. All the funds raised from the issuance of the FT Units will be used for exploration activities in Canada and will constitute Canadian exploration expenses (as defined in the Income Tax Act). These expenses will be renounced by Q-Gold for the 2008 taxation year.

The completion of the Offering is conditional upon the Corporation receiving all requisite regulatory approvals, including that of the TSX Venture Exchange.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines, and 4,796 exploratory acres in the Rainy River Greenstone Belt. The Corporation also holds an option on six historic gold and silver mines near Crown King, Arizona and options on two prospective copper porphyries and one copper / zinc prospect in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

CONTACT INFORMATION:

Q-Gold Resources Ltd.
J. Bruce Carruthers II
President
1-888-779-0166
Website: www.qgoldresources.com

or

Investor Relations
AGORACOM Investor Relations
Email: QAU@agoracom.com
Website: www.agoracom.com/IR/Q-Gold

The company recently announced (press release dated May 25, 2008) that it has applied to the Ontario Ministry of the Environment ("MOE") for two permits which will allow Q-Gold to pump water from the mine into a series of settling / polishing ponds at a high rate of a maximum of 400,000 liters per day for two periods of thirty days each.

In the interim, until the permits are received, the Corporation will begin "slow pumping" of the Foley Mine water at a rate not to exceed 50,000 liters per day as permitted by regulations. A mining crew from Paul Whelan Mining Contractors of Kirkland Lake, Ontario ("Whelan") has arrived in Mine Centre. Whelan has begun clearing remaining obstructions in the Foley Mine North Shaft and installing ladders and platforms to the 100 foot level. This will permit underground exploration of the estimated 180 feet of drifting which occurred on that level in the late 1890's. According to historic records, a stope on this level produced 5,267 ounces of gold, principally before 1900 (these reports are not compliant with the requirements of NI 43-101 and therefore cannot be relied upon).

Upon receipt of the permits from the MOE, an ALIMAK "raise climbing" system will be installed. This will permit underground exploration access to the 400 foot level and the approximately 320 feet of additional drifts on three other levels.

The Foley Mine North Shaft was the site of extensive renovation in 2007 as the old shaft collar was reconstructed. Pumping, hoisting and compressor equipment and ancillary buildings were also constructed to permit safe access to the mine for underground exploration. The mine road was widened to handle heavy trucks and mining equipment, and an existing mine camp comprised of nine Atco trailers, located approximately a mile from the Foley minesite, was purchased.

The 30-man camp is currently being renovated to house future mining crews and an area below the North Shaft of approximately 4.3 hectares is being cleared. This will permit construction of the settling / polishing pond facilities which will temporarily hold the mine water to ensure its purity prior to discharge into the environment.

Rainy River Update

Based upon the results of a recent geologic review, the Corporation decided not to renew options on 2,838 patented acres of the company's exploratory acreage in the Rainy River Greenstone Belt. Q-Gold has retained a 100% interest in a total of 4,796 prospective exploratory Rainy River acres, comprised of 2,480 acres of staked mining claims and 2,316 acres of leasehold patents. A review of potential locations for a future reverse circulation drilling program on the retained acreage is currently under way.

Richard C. Beard, 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.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines, 4,796 exploratory acres in the Rainy River Greenstone Belt and an option on six historic gold and silver mines near Crown King, Arizona. It also holds an option on two prospective copper porphyry and one copper / zinc prospects in Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

For more information, please contact

Corporate Inquiries
Q-Gold Resources Ltd.
J. Bruce Carruthers II, President
1-888-779-0166
Website: www.qgoldresources.com

or

Investor Relations
AGORACOM Investor Relations
Email: QAU@agoracom.com
Website: www.agoracom.com/IR/Q-Gold

In our ongoing efforts to provide market information and/or commentary, we are pleased to provide you, with Industry Sector Bulletins discussing current market opinions and/or conditions that affect the price, use and supply & demand of Gold.

What Price Gold At $1 200 In The Near Future?

Twenty-eight years ago, driven by a frenzy of buying activity, the price of gold, very briefly, hit $850.

It was a time when Russia invaded Afghanistan, US inflation peaked at 23%, Bin Laden was created and Al Quaeda started its inexorable rise to power in the western world.

Gold didn’t hold those dizzy heights for long, as the buying avalanche that drove it up was just that; a frenzy so heated that it was unsustainable – as those who visited their dentists to remove and sell their gold fillings, along with those who rushed to dispose of their Krugerrands, manifestly affirmed.

Reflection on those heady days goes beyond mere nostalgia, for the situation that then prevailed could today be instructive as gold steadily reaches for higher price levels.

Back in early 1980, following its initial correction from $850 flirtation, the gold price continued to lose ground as it entered an ultra-long bear market that only bottomed out some 20 years after it had peaked.

It is now evident that a renewed bull market is underway, prompting several relevant questions:

• At which price level will the current bull market peak?
• When?
• Are conditions favourable to a bull market peak in excess of its 1980 predecessor?

What makes it difficult to furnish convincing answers is that the underlying factors currently driving investors into the gold market are different from those that prevailed in the late 1970s.

Few investment savvy individuals are unaware that gold is a hedge against uncertainty. Indeed, uncertainty, while anathema to investors in equities, is manna to investors in bullion.

Uncertainty comes in several guises, among them inflation, conflict, political chaos and currency instability. Inconceivable as it might appear to those who weren’t there to experience it first-hand, inflation – and a lot of it – was the prime reason for the 1980 gold spike.

Hard as it might be to credit in today’s low single-digit inflationary climate, lax Jimmy Carter-inspired US monetary policies pushed that country’s annual inflation rate to an atmospheric 23%, with most other countries around the globe tending to follow suit.

As the American dollar – then, as it is now, the world’s yardstick currency – started losing its purchasing power, so the world sought shelter in gold.

The unfolding events provided a fascinating insight into the market’s anticipatory mechanism, since the bear market was triggered prior to the Reaganomics that subsequently slew the inflation ogre, in the wake of which the golden lifebelt lost its attraction and the gold price declined steadily for a couple of decades thereafter.

All this by way of (essential) background.

Whether or not we believe that history repeats itself, as matters stand at present it is unlikely that rampant inflation will once again rear its head in the foreseeable future.

Yet bullion has been attracting a fair measure of investment (and speculative) attention, prompting the thought that such buying is driven by a desire to hedge against a host of unpredictable uncertainties.

Candidates include dollar weakness, growing Muslim militancy, the possibility of a democrat in the White House, a nuclear-fired Iran and/or North Korea, an emerging market meltdown and global warming, and with oil soaring above $130 a barrel, well anything is possible now.

While the imagination needs to run rampant to conceive of a situation sufficient to spark a bullion buying frenzy of the ilk witnessed 28 years ago, more than one of these factors – or even, perhaps, a future event that currently defies imagination – could in due course eventuate in a way profound enough to drive precious metals prices to well above former peaks.

In the process of interrogating your crystal ball, bear always in mind that in our highly efficient free market system, today’s prices do not reflect the past or the present but, rather, collective expectations of what awaits us in the future. In short, Adam Smith’s “invisible hand” is a staggeringly accurate barometer that dare not be ignored.

One of the crystal ball’s revelations could, of course, convey the message that the past couple of years’ gold price revival represents no more than a rectification of an oversold position, in which event the bull run could soon peter out to be succeeded by (at best) a long period of consolidation.

Such a scenario is not out of the question, though the long-term cycle points to the likelihood that a new peak is in prospect, with the time frame hinging on the extent and longevity of global stability.

If the crystal ball is telling you that heightened uncertainty lies in store and that refuge will be sought in gold, as it has for centuries, then an investment strategy aimed at accumulating Krugerrands – the world’s most successful-ever gold coin – should be seriously contemplated.

Link to Article

The properties are described as follows:

RAY PROSPECT

Located in the Mineral Creek Mining District (Globe/ Miami area of Southeastern Arizona) of Pinal County, which hosts a string of large copper porphyry deposits extending from Superior to Hayden, Arizona, the optioned property consists of six Federal patents comprising 103 acres on the western slopes of 6,000 foot Scott Mountain in the Dripping Springs Range along the eastern edge of the Ray Ore Body. The Ray copper porphyry deposit has been mined since the 1890's and by mass mining (open pit) methods by Asarco since 1948. It is currently being mined at a rate of 250,000 tons per day or ore, and produced 232.9 million pounds of copper in 2006 (most recently reported annual production), making it Arizona's second largest producing copper mine.

As the optioned patents were held by private ranching interests beginning in 1897 until acquired by the vendors, the ground, although prospective, has not been mined.

TROY PROSPECT

Also located in the Dripping Springs Mountain Range of the Mineral Creek Mining District (Gila County), the Troy prospect consists of eight Federal Patents comprising 148 contiguous acres located approximately 4 miles southeast of the Ray Mine. This property is also a copper porphyry prospect, which has only incurred small-miner, near-surface operations since its discovery in 1900. Based on surface sampling, geochemical and geophysical surveys, and the extensive presence of faulting, breccias and weathered copper sulfide minerals (gossans) on surface, the Troy deposit is a prime exploration target for an underlying copper and possibly copper/ molybdenum porphyry accumulation. Molybdenum is a byproduct in many of Arizona's copper mines.

THE PINAFORE MINE

Located in Western Arizona near Bagdad in the Eureka Mining District of Yavapai County, this property consists of one Federal Patent and nine contiguous U.S. Department of the Interior, Bureau of Land Management Mining claims totaling 206 acres. The Pinafore Mine is a volcanogenic massive sulfide (VMS) polymetallic deposit containing copper and zinc located on the western fold of a limb on the Bagdad open pit copper and molybdenum mine, Arizona's third largest producing copper mine. During World War II, about 5,000 tons were mined from a 245 foot shaft and several hundred feet of drifts. Drilling in 1992 by Arizona Exploration Inc. (American Barrick, Placer Dome and Homestake) delineated two promising VMS deposits at depth (800 feet) in the Pinafore. A restricted land position at the time precluded their further interest. A subsequent geophysical survey indicated the presence of a synclinal trend to the southwest which may host additional VMS prospects on ground included in Q-Gold's option.

Pursuant the terms of its agreement with the vendors, Q-Gold's due diligence option can be converted into a Purchase Option Agreement, on or before September 1, 2008, to acquire a 100% interest in the properties under the following terms:

(1) Option Term: 5 years

(2) Upon Execution: US$ 66,000 cash payment

(3) Semi-Annual Payments: US$ 25,000 cash

(4) To Purchase 100% Interest: US$ 1,500,000 Cash plus issuance of Q-Gold common shares equal to US$ 1,500,000 in value.

The Purchase Option Agreement is subject to the approval of the TSX Venture Exchange.

Arizona Copper Production

Arizona leads the U.S. in copper production and is in the top five U.S. producers of molybdenum and silver. The value of Arizona copper production in 2007 exceeded US$ 5.5 billion. The ten largest Arizona copper mines produced a total of 1.57 billion pounds of copper in 2006, including the #2 producer, the Ray Mine (Asarco) with 232.9 million pounds and the #3 producer, the Bagdad Mine (Freeport McMoran) with 165.4 million pounds of copper. (Source: "Arizona's Metallic Resources Trends and Opportunities - 2008" Arizona Department of Mines and Mineral Resources, Open File Report 08-26, February 2008, p. 1, Author: Nyal J. Niemuth)

President's Remarks

President and CEO, Bruce Carruthers said, "Q-Gold is indeed fortunate to be able to obtain options, on a very reasonable basis, on two un-mined tracts which are prospective for copper and molybdenum in the heart of Arizona's southeastern porphyry copper belt. These have been in private hands since the late 1800's. The other optioned property, the Pinafore Mine, in the Western Arizona VMS belt, presents an already drill-identified, polymetallic deposit that has expansion potential onto lands also included in the option package.

Labor and political disruptions to Asian and South American copper supplies, rising Asian demands and depleting warehouse stocks of copper provide a positive outlook for Arizona copper production and prices in the next few years. Our due diligence efforts on the new properties are currently in progress," Mr. Carruthers concluded.

Richard C. Beard, P.Eng., Consulting Geologist, a Qualified Person as defined by NI 43-101, has reviewed and approved the above technical disclosure.

MINE CENTRE, ONTARIO UPDATE

At Mine Centre, Q-Gold is in the process of acquiring the necessary permits to dewater the Foley Gold Mine. The Company has received copies from its environmental engineering consultants, Trow Associates Inc. ("Trow"), of applications for both a Permit to Take Water and a Sewage Works Certificate of Approval, required by the Ontario Ministry of Environment. The applications include Trow's results from mine water toxicity tests, a hydrogeological report, drilling and monitoring of test water wells, a topographic survey of the Foley minesite and preparation of preliminary engineering designs of two-stage settling ponds followed by a polishing pond to insure the water's purity.

Upon receipt of the permits, Q-Gold will construct the ponds and resume rehabilitation and dewatering of the Foley Mine north shaft to the 400 foot level. This will permit access and advanced gold exploration activities in the mine.

About Q-Gold Resources Ltd.

Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines, 7,634 exploratory acres in the Rainy River Greenstone Belt and six historic gold and silver mines near Crown King, Arizona.

For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email list to receive all future press releases and updates in real time.

The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially form the Company's expectations and projections.

The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.

For more information, please contact

Corporate Inquiries
Q-Gold Resources Ltd.
J. Bruce Carruthers II, President
1-888-779-0166
Website: www.qgoldresources.com

or

Investor Relations
AGORACOM Investor Relations
Email: QAU@Agoracom.com
Website: www.agoracom.com/IR/Q-Gold

In our ongoing efforts to provide market information and/or commentary, we are pleased to provide you, with Industry Sector Bulletins discussing current market opinions and/or conditions that affect the price, use and supply & demand of Gold.

AGORACOM Interview: Jim Sinclair Issues $1,000,000 Challenge To All Gold Bears

Good afternoon to you all. The title is neither a mistake, nor a gimmick. Jim Sinclair, whom the NY Times referred to as “perhaps the best-known gold speculator of his era”, has built a legendary reputation for his gold market calls since the 1970’s. For example:

• In the 70’s he predicted that gold would hit a high of $900 (it hit $875)
• Achieved his renown status when he sold 900,000 ounces of gold at an average price of $810 in early 1980, when gold was capping a decade-long bull market that commenced in 1971
• Called for a 15-year bear market in gold (it lasted 21 years)
• Has been a buyer of gold since it hit $250 in 2001
• Predicted that gold would hit a high of $1,650 in this cycle, since 2003.

PYMWYMI - $1,000,000 Challenge

With gold now about 10% of its $1,030 high, gold bears are saying the party is over thanks to a recovering US financial sector. Jim thinks otherwise but rather than wasting time “flapping gums” he is exercising his right to PYMWYMI (Put Your Money Where Your Mouth Is) and challenging any bear to do the same by laying $1,000,000 on the line.

It looks like Jim is specifically hunting for big game by targeting “any party on Bloomberg, CNBC or CNN Business“. I don’t know about you but I personally admire anybody who will man up and lay down that kind of money to back up his words. Right now, Jim Sinclair is the Muhammad Ali of the markets for going beyond plain predictions and providing specific details of his victory.

THE AGORACOM INTERVIEW

After first hearing about the wager on my friend Barry Ritholtz’s blog, I had to know more and decided to call Sinclair directly. We had never met before and he was reluctant at first to conduct any kind of interview, stating “I didn’t do this for publicity, just tell your audience about the wager”. No publicity? Now I couldn’t give up. After 10 minutes, I convinced him that my intent was not to glamorize the bet - but to uncover his reasoning behind his gold call. … I also told him I was 6′4, 240 lbs and had a great working knowledge of Google Maps, so he finally agreed.

I interviewed him this morning at 11:00 and discovered this was no conspiracy theory ladened gold bug. He was incredibly well reasoned and even sympathized with Ben Bernanke and his actions, however futile they may be. Yes, the sky is falling but he prefers it wasn’t happening. He isn’t cheering for gold to advance as a result of a crumbling US Dollar but his logic tells him it is simply a consequence of events and policy that started with Alan Greenspan.

I could put together a highlight list but it would not do Jim’s words any justice. This is one interview you have to listen to.

Having said that, I will provide you with one provocative morsel:

“What else is there to do? If they stepped away right now and let Bear Stearns go broke, the ramifications for the man walking on the street is he should walk straight to the soup kitchen.”

I look forward to your comments.

Regards,
George