Tri-Valley Corporation Announces $5,035,000 Private Placement of Common Stock

Tri-Valley Corporation (NYSE Amex: TIV) (the 'Company?) today announced
that it has entered into a definitive stock purchase agreement to sell
$5,035,000 shares of its common stock in a private placement financing
with a select group of institutional and accredited investors. In the
aggregate, the Company will sell 10,070,000 shares of common stock at a
price of $0.50 per share, resulting in aggregate gross proceeds of
$5,035,000. The Company expects net proceeds at closing of approximately
$4.7 million after the deduction of placement agent commissions and
offering expenses.

The Company expects to use the net proceeds from this financing for
further development of the first drilling phase at its Claflin oil
project, general corporate purposes, and working capital. The
transaction is expected to close on or about April 21, 2011, subject to
the satisfaction of certain customary closing conditions.

C. K. Cooper & Company acted as the sole placement agent for this
transaction.

The shares of common stock sold in this private placement have not been
registered under the Securities Act of 1933, as amended (the 'Securities
Act?), or applicable state securities laws, and accordingly may not be
offered or sold in the United States except pursuant to an effective
registration statement or an applicable exemption from the registration
requirements of the Securities Act and such applicable state securities
laws. The Company has agreed to file a registration statement with the
Securities and Exchange Commission registering the resale of the shares
of common stock issued in this private placement.

This release does not constitute an offer to sell or the solicitation of
an offer to buy the securities, nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of such state. Any offering of the securities under the
resale registration statement will only be by means of a prospectus.

About Tri-Valley Corporation

Tri-Valley Corporation explores for and produces oil and natural gas in
California and has two exploration-stage gold properties in Alaska.
Tri-Valley is incorporated in Delaware and is publicly traded on the
NYSE Amex exchange under the symbol 'TIV.? Our Company website, which
includes all SEC filings, is www.tri-valleycorp.com.

Special Note Regarding Forward-Looking Statements

All statements contained in this press release that refer to future
events or other non-historical matters are forward-looking statements.By way of example, statements contained in this press release related
to the closing of the private placement and the expected use of proceeds
from the financing, and such other future events described in this press
release, are forward-looking statements.Although the Company
does not make forward-looking statements unless it believes it has a
reasonable basis for doing so, the Company cannot guarantee their
accuracy. These statements are only predictions based on management′s
expectations as of the date of this press release, and involve known and
unknown risks, uncertainties and other factors, including: the Company′s
ability to satisfy each of the closing conditions specified in the
definitive stock purchase agreement executed in connection with the
private placement, and such other risks and factors that are discussed
in the Company′s filings with the Securities and Exchange Commission
from time to time, including under 'Item 1A. Risk Factors? and 'Item 7.
Management′s Discussion and Analysis of Financial Condition and Results
of Operations,? contained in the Company′s Annual Report on Form 10-K
for the year ended December 31, 2010.Except as required by law,
the Company undertakes no obligation to update or revise publicly any of
the forward-looking statements after the date of this press release to
conform such statements to actual results or to reflect events or
circumstances occurring after the date of this press release.

Company Contacts:

John Durbin, 661-864-0500

jdurbin@tri-valleycorp.com

or

Investor
Contacts:

EVC Group, Inc.

Doug Sherk/Jenifer Kirtland,
415-896-6820

dsherk@evcgroup.com

jkirtland@evcgroup.com

or

Media
Contact:

EVC Group, Inc.

Chris Gale, 646-201-5431

cgale@evcgroup.com