Robert Lord Joins Vaaldiam's Board

Market Wire, July, 2006

Mr. Robert Lord has joined the Board of Directors of Vaaldiam Resources Ltd. (TSX: VAA). Mr. Lord is a Chartered Accountant and was a partner of Ernst & Young LLP and its predecessors. He retired from his position as Vice-Chairman of Ernst & Young LLP in 2000. He then assumed the position of Chairman of the Canadian Institute of Chartered Accountants, a post he held until June 2002. Mr. Lord is currently Chairman of the Board of MTI Global Inc. and is a director of several other public and private corporations.

Mr. Lord will be Chairman of the Audit Committee and a member of the Compensation Committee of Vaaldiam.

Contacts: Vaaldiam Resources Ltd. Ken Johnson President and CEO (416) 363-6927 Vaaldiam Resources Ltd. Janet Reid Manager, Investor Relations (416) 363-6927 www.vaaldiam.com