SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S10

SearchGold Resources Inc.

April 11, 2007 15:25 ET

SearchGold Arranges Financing for up to $2,000,000

MONTREAL, QUEBEC--(CCNMatthews - April 11, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FRANKFURT:S10) announces that it is currently arranging a non-brokered private placement for up of $2,000,000. The placement is reserved for accredited investors only and the Corporation will issue a maximum of 2,000 units at a cost of $1,000 per unit. Each Unit includes 3,333 common shares of the Corporation at a price of $0.30 per share and 1,667 common share purchase warrants of the Corporation. Each Warrant entitles its holder to purchase one common share of the Corporation at the purchase price of $0.45 per common share at any time during the 18-month period from the Closing Date. Management plans to close this financing on April 20.

In connection with the non-brokered private placement, a 6 % cash finder's fee commission will be paid out to qualified Agents. The Corporation will also grant Agent warrants to acquire the number of units equal to 3 % of the units subscribed for by the Agent's investors. Each agent warrant shall be exercisable into 1 unit at a price of $0.30 per unit for a period of 12 months from the closing date.

This financing is subject to the approval of the TSX Venture Exchange.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold and diamond deposits in Africa and in Canada. The Company is aggressively pursuing the development of its three most advanced gold projects with drill programs initiated in November 2006.

The expansion strategy executed in 2006 has set the stage for the Company's development in 2007 as this new year will see increased activity on the new blue-sky properties and the advanced projects as well as some potential acquisitions.

If you would like to receive press releases via e-mail please contact: info@searchgold.ca

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

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