Attention Business Editors:

Ubika Research initiates coverage on VG Gold - Advanced stage exploration company in the heart of a prolific gold district

    TORONTO, July 24 /CNW/ - Ubika Research has initiated coverage on VG Gold
Corp. (TSX: VG, Frankfurt: VN3) in a July 23, 2008 report, "Initiating
Coverage: A deeply discounted miner in the heart of the prolific gold camp".
Given the advanced stage properties, Ubika Research considers VG Gold to be an
exciting 'pure' Timmins gold play. VG is rated "speculative buy" by Ubika
Research, with a 12-month target of C$ 0.82.

    Download the free report at
http://www.ubikaresearch.com/report/vg_gold.aspx

    About VG Gold Corp.
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    VG Gold Inc. is an advanced stage junior gold exploration company in
Northern Ontario's Timmins mining district, whose goal is to advance the
development of its current inventory of gold properties with a high level of
gold mineralization while continuing to add to its resource base.

    About Ubika Research
    --------------------
    Ubika Research is an independent investment research firm based in
Toronto and Vancouver. It provides investors with objective and independent
research on under-researched micro and small cap companies. For more
information visit www.ubikaresearch.com.

    Disclosure
    ----------
    Except for the historical information presented herein, matters discussed
in this document contain forward-looking statements that are subject to
certain risks and uncertainties that could cause actual results to differ
materially from any future results, performance or achievements expressed or
implied by such statements.
    Ubika Research, a division of Ubika Corporation, is not registered with
any financial or securities regulatory authority, and does not provide nor
claims to provide investment advice or recommendations to readers of this
report. For making specific investment decisions, readers should seek their
own advice. For full disclosure please visit
    http://www.ubikaresearch.com/report/vg_gold.aspx

For further information: Vishy Karamadam at (416) 729-1363