Z-Gold Grants Stock Options

ROUYN-NORANDA, CANADA--(Marketwire - Sept. 17, 2012) - Z-Gold Exploration Inc. (TSX VENTURE:ZGG) is pleased to announce that the Corporation has granted 1,400,000 stock options to directors, officers and consultants of the Corporation, which can be exercised at a price of $0.10 per share expiring on September 17, 2015.

Z-Gold Exploration also announces that at the Annual and General Meeting of Shareholders held on August 28, 2012, the following directors were elected: Rodrigue Tremblay, of Rouyn-Noranda, Québec, Jacques Frigon, of Amos, Québec, Laurent Hallé of Fabre, Quebec and Jean Roy of Timmins, Ontario.

The accounting firm of Dallaire & Lapointe Inc. was re-appointed as independent auditors. The shareholders have also approved the continuation of the Corporation's stock option plan.

Subsequently to the Annual and General Meeting, the Board of Directors of the Corporation held a Director's meeting and have appointed the following officers: Rodrigue Tremblay, as President and Chief Executive Officer and Jacques Frigon as Chief Financial Officer.

The following persons have been appointed to the Audit Committee: Rodrigue Tremblay, Laurent Hallé, and Jean Roy. Two members of this committee are considered independent directors.

About Z-Gold Exploration Inc.

Z-Gold has as its flagship property the Abitibi Gold Property located in Munro Township in the famous Timmins mining camp. There are many surface gold showings that require investigation by ground geophysical surveys and followed up by a diamond drilling program. A recent airborne survey has successfully outlined many EM and magnetic structural features. A geophysical feature similar to the Croesus mine has been identified. The Abitibi Gold Property consists of 112 claims located approximately 86 kilometres east northeast of the city of Timmins in the Larder Lake Mining Division, Ontario.

Z-Gold Exploration Inc. is a publicly listed company trading on the TSX Venture (ZGG).

This press release was prepared by Z-Gold Exploration Inc.

This document may contain forward-looking statements relating to Z-Gold's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Z-Gold's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filling. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not place on such forward-looking statements. Z-Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.