SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S10

SearchGold Resources Inc.

November 28, 2007 09:00 ET

SearchGold/Update on Mandiana, Guinea : Geological Characterization of N'Diambaye Mineralized Shear and New Gold Anomaly at Fadaninda

MONTREAL, QUEBEC--(Marketwire - Nov. 28, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FRANKFURT:S1O) has the pleasure to announce exploration results of the most recent surveys on its Mandiana Gold Project in Guinea, West Africa.

The recent work pursued two objectives :

1. Detailed surface work on N'Diambaye

2. Finalization of property wide termite mound survey and detailed follow-up

A detailed update of this work is given in the present release as well as an overview of the program presently in progress on the property. Please refer to the two figures shown here: http://www.ccnmatthews.com/docs/Mandiana.JPG and http://www.ccnmatthews.com/docs/NDiambaye.JPG for the localization of the recent work.

Surface work on N'Diambaye

SearchGold announced in April 2007 the discovery, by reverse circulation drilling, of the N'Diambaye North-South zone, a north-south trending mineralized structure recognized over 400m and containing high grade intersections up to 12.23 g/t Au over 22m from 50 to 72m (hole NDI-02).

A 1/2000 detailed geological map was executed to cover the N'Diambaye North-South zone and its northern extension. Two principal lithologies were mapped : A volcaniclastic unit consisting in a quartz-crystal tuff and feldspathic fine tuffs and a sedimentary unit comprising detrital terrigeneous rocks such as arkoses, sandstones, siltstones and phyllites.

Trenching work resulted in the identification of the northern extension of the N'Diambaye North-South zone in the volcanoclastic package. As explained in a press release dated April 16 2007, no outcrop had been observed directly above the gold bearing structure at the level of the mineralized drill holes. Moreover, the lateritic profile being too thick in this area, no trenching could be executed directly on the surface projection of the mineralized intercept of hole NDI-02. Seven trenches totaling 545m have therefore been executed on the northern extension where an important outcrop zone is present.

A 15m wide silicified shear zone returned an anomalous value of 100 ppb Au approximately 850m north of hole NDI-02. This shear zone is interpreted as the northern extension of the N'Diambaye North-South zone. Two sub-parallel shear zones 5m in width yielded intercepts of 190 ppb Au over 2m and 1914 ppb Au over 1m in the first case and 260 ppb Au over 2m and 1860 ppb Au over 1m in the second. (Note : 1000 ppb Au equals 1 g/t Au).

Gold mineralization appears to be hosted by north-south trending, west dipping shear zones located in fold hinge zones in an environment of volcaniclastic rocks in contact with the birimian turbiditic sedimentary sequences.

Termite mound surveys

The regional geochemical termite mount sampling of the entire Mandiana property was completed and resulted in the identification of 10 new targets. Their detail follow-up lead to the discovery of the Fadaninda gold anomaly; a strong geochemical anomaly located in the southern part of the property. It shows an orientation of 330 degrees, an approximate length of 500m and a width of up to 75m. This anomaly is defined at the +50 ppb Au level, shows an average grade of 190 ppb with a peak at 1960 ppb. It follows the direction of numerous ancient artisan gold pits. It is hosted in a geological context similar to N'Diambaye with the observed lithology being quartz crystal tuffs. Results of the check sampling of the area confirmed this anomaly as well as its extension northward.

Work in progress

In order to follow-up on this recent surface work and in preparation for the next phase, SearchGold has contracted terratec Geophysical Services to conduct a compilation of geophysical airborne data over the Mandiana area and, more specifically, to execute ground geophysics on N'Diambaye and Fadaninda. On these two targets Gradient Array will be performed while HIRIP profiles will be executed in addition on N'Diambaye. Both types of surveys are based on the principles of induced polarization and have been successfully applied by terratec on other gold targets in the birimian shield. Mobilization of the instruments and the crew is under way and the line preparation work by the SearchGold team in the field is nearly completed.

Sample analysis / QA/QC

Trenches are sampled under the supervision of a senior geologist and 2 kg samples are collected by grooving on a trench wall, ideally at 50cm from trench bottom (adjusted to sample the saprolite) at 1.00m interval according to the lithology without exceeding 1.30m or to be less than 0.30m. In the case of termite mound samples, a 1kg sample is collected form each mound, homogenized on site and shipped to the laboratory.

A rigorous QA/QC program involves the random inclusion of standards, duplicates and blanks at the sample collection stage. The samples are shipped to the Abilab laboratory in Ougadougou, Burkina Faso, for analysis by bottle roll cyanidation on pulverized material. The sample preparation and analytical procedure involves pulverizing the entire sample followed by quartering to obtain a representative 1kg sample in the case of trench samples and 500g sample in the case of termite mound samples. All samples undergo bottle roll cyanidation for 24 hours. In cases where bottle roll cyanidation yields assays greater than 2 g/t Au, a fire assay is executed on the pulp tailings and the head grade recalculated.

A duplicate of every 20th sample is sent to the SGS laboratory in Siguiri, Guinea, for control of the assaying procedure by a second laboratory.

The program is carried out under the supervision of Mr. Moussa Keita, Ph.D, P.Geol. in collaboration with Mr. Pierre Lalande, P. Geol. and former IAMGold Chief Geologist who has been involved with gold projects in tropical terrains in the Birimian rocks of West Africa over at least two decades. Philippe Giaro, P.Geol., President and CEO of SearchGold Resources Inc. and Qualified Person for SearchGold, has reviewed and approved the content of this release.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Africa. The expansion strategy executed in 2006 has set the stage for the Company's development in 2007 through increased activity on the advanced projects, a new acquisition and the segmentation of its activities to unlock value for its shareholders. SearchGold's diamond assets were re-organized along with Mano River Resources Inc., to create an integrated diamond company called Stellar Diamonds Limited of which SearchGold holds 2.7 million shares. SearchGold's Canadian gold assets are being reorganized through the creation of Golden Share Mining Corporation which recently filed a preliminary prospectus for an initial public offering. SearchGold intends to distribute a dividend to its shareholders as part of the Golden Share transaction.

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