SearchGold Resources Inc.

SearchGold Resources Inc.

March 29, 2006 15:01 ET

SearchGold Appoints Philippe Giaro as New CEO

MONTREAL, QUEBEC--(CCNMatthews - March 29, 2006) - SearchGold Resources Inc. (TSX VENTURE:RSG) is pleased to announce the appointment of Mr. Philippe Giaro to the board of directors. Mr. Giaro will assume the position of President and Chief Executive Officer of the Company in replacement of Mr. Joel Scodnick who will remain with SearchGold as a director and will stay involved in the development of the Company at the finance and corporate level.

Mr. Giaro is a professional geologist and a graduate from McGill University in Montreal, Canada, where he received an Honours B.Sc. diploma in geology in 1984. He has been involved with SearchGold since February 2005 as Vice-president exploration. Mr. Giaro is based in the Brussels area, Belgium, and since his nomination has been instrumental in focusing the Company on two key development objectives :

1. The establishment of partnerships on advanced projects, thereby
reducing the financial burden on SearchGold and capitalizing on
the technical and corporate know-how of a senior partner ;

2. The increase of SearchGold's visibility and the broadening of
its shareholder base.

With regard to the first objective, Mr. Giaro was involved in the negotiations with Managem for the establishment of a joint venture on the Bakoudou-Magnima project in Gabon and has had a significant responsibility in achieving a breakthrough at that level.

Mr. Giaro was also instrumental in developing SearchGold's visibility in Europe, initially through the involvement of a Belgium-based investor group. More recently he initiated a working relationship with Loeb Aron, a London-based corporate finance firm as well as with Value Relations a Frankfurt-based investor relations company.

The appointment of Mr. Giaro therefore represents a logical step for SearchGold and will insure continuity in the development of the company with an increased emphasis on Europe.

The board of directors of the Company approved today the grant of 1,650,000 stock options at a price of $0.15 to admissible individuals.

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 Canada. SearchGold's project strategy maximizes its experience and resources and supports the Company's commitment to strengthen shareholder value.

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