SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S1O

SearchGold Resources Inc.

January 17, 2007 09:15 ET

SearchGold Updates on Mandiana Drilling Campaign

MONTREAL, QUEBEC--(CCNMatthews - Jan. 17, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FSE:S1O) is pleased to provide an update on the drilling campaign presently in progress on its 100% owned Mandiana Gold Property located in Guinea, West Africa.

The program began on December 20th 2006 and has been progressing very well. The initially planned 3,000 meters of drilling has been increased to approximately 4,500 meters for a total of 55 holes. The campaign is expected to be finalized within the next few days and final technical specifications of all holes will be given once the program is complete.

Philippe Giaro, President and CEO, observed that "Overall, the Mandiana drilling program is about 80% complete. The drilling combined air core and reverse circulation methods and 100% of the material recovered will be analyzed. A first batch of samples has been shipped to the laboratory and the remainder will be expedited once the drilling is finished."

Drilling targets

Four distinct targets are being tested during the course of this program. Two of the targets are gold termite mound anomalies. Two additional targets were identified during field reconnaissance and are considered sufficiently mineralized and geologically significant to warrant drilling. The program is carried out under the supervision of 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. More discussion of these targets is presented below.

N'Diambaye sector - main termite mound gold anomaly

As previously reported this is SearchGold's most advanced target (see press release of September 6th 2006). The main anomaly shows a general NNE orientation with dimensions of approximately 1.000 m by 400 m. Two smaller anomalies are located within an 800 m radius of the main one. These three anomalies are defined at the +20 ppb Au level, show an average above 100 ppb with several values above the 400 ppb threshold and a peak at 1670 ppb.

A total of 41 holes were planned for this target. The holes are inclined at 50 degrees; drilled with an azimuth of 270 degrees at an average depth of 80 m. Drilling on this target is presently 75% complete.

N'Diambaye sector - chantier Kodierani

An area of intense artisan mining activity named "chantier Kodierani" is located near the southern end of a 2.1 km gold mineralized system (see press release of May 24th 2006). Angular float blocks of arsenopyrite and pyrite bearing banded quartz veins extracted from the pits returned individual assays of up to 26.58 g/t Au and a 20-kg sample of this type of material collected from several blocks returned an assay of 3.37 g/t Au.

This target is located approximately 650 m east of the center of the N'Diambaye main termite mound gold anomaly and a total of six holes were drilled on this target. The holes are inclined at 50 degrees; drilled with an azimuth of 270 degrees at an average depth of 80 m. Drilling here is 100% complete.

N'Diambaye sector - stockwork area

Outcrops displaying quartz stockworks (up to 40% quartz) and located 500 m north of "chantier Kodierani" returned grades up to 3.18 g/t Au (see press release of May 24th 2006).

This target is located approximately 800 m north-east of the center of the N'Diambaye main termite mound gold anomaly and one hole inclined at 50 degrees and with an azimuth of 90 degrees was drilled to an approximate depth of 100 m. Drilling here is 100% complete.

Karfakolo sector - termite mound gold anomaly

As previously reported first pass results outlined the presence of a NNW trending 3.2 km anomaly located in the northern part of the Karfakolo prospect (see press release of September 6th 2006). The anomaly has a width of up to 150 m, is defined at the +25 ppb Au level, shows several values above the 700 ppb threshold and peak at 1500 ppb.

This target is located approximately 6.5 km south of the center of the N'Diambaye main termite mound gold anomaly and a total of seven holes were drilled on this target. The holes are inclined at 50 degrees; drilled with an azimuth of 270 degrees at an average depth of 80 m. Drilling on this target is 100% complete.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian based mining exploration company whose primary mission is to target, explore and develop gold and diamond deposits in Africa and in Canada. The Company is aggressively pursuing the development of its gold projects with three drill programs currently in progress (see press release dated December 20th 2006). In 2006, SearchGold implemented an expansion strategy targeting new high profile projects to maximize the exposure of its shareholders to new discoveries while providing risk protection through the continued development of its advanced projects.

This strategy will guide the Company's development in 2007 as this new year will see increased activity on the new blue-sky properties and the advanced projects as well as some potential acquisitions.

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