SearchGold Resources Inc.

SearchGold Resources Inc.

March 23, 2005 12:17 ET

SearchGold Announces an Intersection of 10,21 G/T Gold Over 15,75 M in Diamond Drill Hole BA04-20 and Focuses on Exploration in Gabon


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SEARCHGOLD RESOURCES INC.

TSX VENTURE SYMBOL: RSG

MARCH 23, 2005 - 12:17 ET

SearchGold Announces an Intersection of 10,21 G/T Gold
Over 15,75 M in Diamond Drill Hole BA04-20 and Focuses
on Exploration in Gabon

MONTREAL, QUEBEC--(CCNMatthews - March 23, 2005) - SearchGold Resources
Inc. ("SearchGold") (TSX VENTURE:RSG) is pleased to announce additional
drill results from the southern part of Zone A on its 90% owned Bakoudou
Gold Project ("the Project") located in Gabon, Africa.


The highlight of this recent work is the intersection of 10,21 g/t Au
over 15,75m from 9,75m to 25,50m in diamond drill hole BA04-20 and which
the management judges particularly encouraging.

The south western part of section 0+50S has now been recognized by
diamond drilling and the following results have been obtained.



Hole # From To Interval Grade
(m) (m) (m) (g/t AU)
--------------------------------------------------------
--------------------------------------------------------
BA04-19 16,85 17,85 1,00 2,94
19,85 31,00 11,15 3,04
39,15 42,15 3,00 8,68
45,60 46,40 0,80 1,18
--------------------------------------------------------
BA04-20 9,75 25,50 15,75 10,21
--------------------------------------------------------
BA04-21 1,50 8,85 7,35 1,20
--------------------------------------------------------
BA04-22 no significant assay
--------------------------------------------------------

The south western part of section 0+75S has also been recognized by
diamond drilling and the following results have been obtained.

Hole # From To Interval Grade
(m) (m) (m) (g/t Au)
--------------------------------------------------------
--------------------------------------------------------
BA04-26 18,15 19,15 1,00 2,35
21,15 38,65 17,50 1,13
--------------------------------------------------------
BA04-24 4,50 6,00 1,50 0,60
10,00 13,50 3,50 4,84
18,00 19,10 1,10 0,74
--------------------------------------------------------
BA04-23 4,50 5,95 1,45 0,56
--------------------------------------------------------

No cut-off grade was applied in the calculation of the above
intersections as an exact cut-off grade will be determined from
final project statistical evaluations. Moreover, even though the
drilling is performed at high angle to the mineralized structures,
the above intersections do not represent perfect true widths. Such
true widths will be computed and integrated in the final stages of
the project modeling.


SearchGold is presently conducting a Bankable Feasibility Study with the
intention to develop the Project's Zone A into a profitable open pit
gold mining operation. This study is carried out under the direct
supervision of Met-Chem Canada Inc, a world renowned Mining and
Engineering firm.

The recent drilling confirms Zone A's favorable mining characteristics
outlined in the press release dated February 16th 2005, namely :



Open pit-friendly geometry due to mineralization hosted in thick
low angle quartz veins.

Simplified metallurgy and reserves evaluation resulting from a
relatively homogeneously distributed auriferous mineralization.


Moreover, SearchGold intends to accelerate the Project's development by
focusing on exploration with the objective to discover satellite ore
bodies around Zone A. Line cutting, soil geochemical sampling as well as
prospecting has recently been initiated and the Company is expecting the
first results. Details of the exploration program will be communicated
in an upcoming press release.

All drill core is photographed and has been logged and sampled under the
supervision of Mr. Pierre Allard of Met-Chem Canada Inc, an independent
geological expert and Qualified Person. Individual samples weighting 3kg
on average are taken from sawn half core at +/- 1 meter intervals in the
mineralized zones. A rigorous QA/QC program involves the random
inclusion of 10% standards, duplicates and blanks at the sample
collection and preparation stage. The samples are flown to SGS LAKEFIELD
RESEARCH AFRICA (PTY) LIMITED laboratory of Johannesburg, S.A., for
analysis by fire assay on 50g pulp samples. The sample preparation
procedure involves the crushing of the entire 3kg sample followed by
quartering to obtain a representative 250g sample which is entirely
pulverized and out of which a 50g sample is isolated for analysis by
fire assay. The drilling program is performed under the supervision of
Mr. Pierre Allard of Met-Chem Canada Inc, an independent geological
expert and Qualified Person.

SearchGold Resources is a Canadian based mining exploration company
whose primary mission is to target, explore and develop diamond and gold
deposits in Africa and in Canada. SearchGold's project strategy
maximizes its experience and resources, and supports the company's
commitment to strengthen shareholder value. Find out more about
SearchGold Resources by visiting www.searchgold.ca

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    SearchGold Resources
    Maurice Giroux
    President
    (514) 866-4224
    info@searchgold.ca
    or
    Investor Relations Contacts
    VanGo Holdings Inc.
    Michael Landau (New York)
    (917) 441-8772
    mlandau@vango.net
    or
    Cavalcanti Hume Funfer Inc. (CHF)
    Nick Kohlmann, M.Sc.
    (416) 868-1079 x222
    nick@chfir.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.