SearchGold Resources Inc.

SearchGold Resources Inc.

June 23, 2010 14:02 ET

SearchGold Will Not Consolidate its Shares

MONTREAL, QUEBEC--(Marketwire - June 23, 2010) - SearchGold Resources Inc. (« SearchGold ») (TSX VENTURE:RSG) (FRANKFURT:S1O) announces that the number of shareholder votes required to approve a consolidation of the Company's common shares at a ratio of one (1) new share for each tranche of ten (10) outstanding common shares was not obtained at its Special meeting of shareholders held in Montreal on June 23, 2010.

SearchGold now has 148,530,171 common shares outstanding and, in accordance with the decision of shareholders as expressed by the vote obtained, no share consolidation will be executed. .

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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