Sargold Resource Corporation

Sargold Resource Corporation

March 28, 2007 18:32 ET

Sargold Arranges Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2007) - Sargold Resource Corporation (TSX VENTURE:SRG)(FRANKFURT:DU4) ("Sargold" or the "Company") is pleased to announce it has arranged a non-brokered private placement of up to 2,500,000 units at C$0.20 per unit. Each unit is comprised of one common share and one common share purchase warrant, which entitles the holder to acquire one common share at a price of C$0.25 for a period of two years.

Proceeds from the private placement will be used to conduct a trial for leaching sulphide ore from the Sa Perrima open pit as the next step in the re-start of the Furtei facility, in addition to general working capital. The above is subject to regulatory approval.

ABOUT SARGOLD RESOURCE CORPORATION. Sargold controls the largest precious metals exploration and exploitation land area in Sardinia, Italy. These assets include a 90% ownership interest in the fully permitted Furtei mine and processing plant, in addition to the large Monte Ollasteddu mineralized system in the Eastern Paleozoics. Furthermore, the Company holds the same interest in an advanced exploration property at Osilo, the site of several existing discoveries located in northwestern Sardinia. The island of Sardinia, located approximately 150 kilometers west of Rome, is the second largest in the Mediterranean Sea covering over 24,000 square kilometers. The Company trades on the TSX Venture Exchange under the symbol SRG.


George Paspalas, President & Chief Operating Officer

FORWARD-LOOKING STATEMENTS - The statements that are not historical facts are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described from time to time in the Company's latest annual report and management discussion and analysis. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this News Release.

Contact Information

  • Sargold Resource Corporation
    Marlo Hamer-Jackson
    Investor Relations Manager
    (604) 687-1717
    (604) 687-1715 (FAX)