San Gold Corporation
TSX VENTURE : SGR

San Gold Corporation

March 22, 2007 14:36 ET

San Gold High Grade Development Update

BISSETT, MB--(CCNMatthews - March 22, 2007) - Dale Ginn, CEO of San Gold Corporation (TSX-V: SGR), is pleased to update mining development progress within the high grade "93" and "98" veins on the 28th level (4200 feet) and 29th level (4350 feet) of the Rice Lake Gold Mine. The strike length of the "93" vein on the 28th level is especially encouraging and has now been extended to over 400 feet (122 m), with an average face grade of 1.26 oz/ton (43.2 g/tonne) over an average true width of 3.3 feet (1.0 m). It is anticipated that an additional 200 feet (61 m) remains to be developed to the north and this vein remains open in an upward direction. Details on the three primary high grade development areas are contained below:



28th level, "93" vein:
-- Over 400 feet (122 m) of horizontal development completed.
-- Average face grade of 1.26 oz/ton (43.2 g/tonne) over an average
true width of 3.3 feet (1.0 m).
-- 58 faces were sampled and 232 samples were assayed.
-- Sample values ranged from 0.09 oz/ton (3.1 g/tonne) to 8.07 oz/ton
(276.4 g/tonne).

29th level, "98" vein:
-- Over 300 feet (91 m) of horizontal development completed, 420 feet
(128 m) of raise development completed to date.
-- Average face grade of 1.10 oz/ton (37.7 g/tonne) over an average
true width of 4.5 feet (1.37 m).
-- 146 faces were sampled and 440 samples were assayed.
-- Sample values ranged from 0.10 oz/ton (3.4 g/tonne) to 7.99 oz/ton
(273.6 g/tonne).

29th level, "93" vein:
-- Over 200 feet (61 m) of horizontal development completed.
-- Average face grade of 1.33 oz/ton (45.6 g/tonne) over an average
true width of 4.0 feet (1.22 m).
-- 30 faces were sampled and 120 samples were assayed.
-- Sample values ranged from 0.08 oz/ton (2.7 g/tonne) to 23.02 oz/ton
(788.4 g/tonne).


San Gold continues to develop the "93" and "98" veins as highest priority with the waste rock development following closely behind in order to access and extract these veins. These veins continue to be open in an upward direction and San Gold will continue to search for similar veins between the 24th and 29th levels of the Rice Lake Mine.

The above programs were carried out under the supervision of W. S. Ferreira, M.Sc., P.Geo., and D. Ginn, P.Geo., the Qualified Persons for San Gold under National Instrument 43-101. Chip, muck and mill samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. San Gold's quality control and assurance program includes the insertion of blanks and standards, the retention of pulps and rejects, and spot checks utilizing independent labs including TSL Laboratories in Saskatoon, SK and Accurassay Laboratories of Thunder Bay, ON.

For further information contact Dale Ginn, President of San Gold Corporation, at (204) 794-5818 or visit the company's website at www.sangoldcorp.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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