SearchGold Resources Inc.

SearchGold Resources Inc.

February 18, 2010 09:00 ET

SearchGold Accelerates US$150,000 Cash Payments and Completes Drilling Program on Arae-Gassel in Burkina Faso

MONTREAL, QUEBEC--(Marketwire - Feb. 18, 2010) - SearchGold Resources Inc. ("SearchGold")(TSX VENTURE:RSG)(FRANKFURT:S1O) is pleased to announce the accelerated payments of contractual obligations over the following three years by Swala Resources PLC ("Swala") to SearchGold.

As a result, Swala will pay immediately SearchGold a total of US$150,000 corresponding to the three yearly US$50,000 cash payments due in 2010, 2011 and 2012 as per the joint venture agreement dated April 22, 2009 entered into between SearchGold and Swala on the Araé-Gassel property. The Arae-Gassel property is directly adjoining on its southern boundary Avocet Mining's Belahouro property, host of the 1.4 million ounce Inata gold deposit (5.2 million tonnes @ 2.3 g/t Au for 378,480 ounces of Measured Resources and 19.8 million tonnes @ 1.6 g/t Au for 1,018,450 ounces of Indicated Resources).

The joint RAB / RC drilling program initiated on December 19, 2009 has now been completed and the holes are currently being assayed.

Philippe Giaro, P. Geo., President and CEO of SearchGold and Qualified Person for SearchGold, has reviewed and approved the content of this release. 

About SearchGold Resources Inc.

SearchGold is a Canadian-based mining company primarily focussed on gold deposits in Africa. Shares of SearchGold are listed for trading on the TSX Venture Exchange as "RSG"; and the Frankfurt Stock Exchange as "S1O".

Neither 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.

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