SearchGold Resources Inc.
TSX VENTURE : RSG

SearchGold Resources Inc.

April 24, 2007 09:00 ET

SearchGold Completes A $1,500,000 Financing

MONTREAL, QUEBEC--(CCNMatthews - April 24, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG) is pleased to announce the closing of the previously announced non-brokered private placement for an amount of $1,500,000. The Corporation will issue 1,500 units, each unit including 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. These new shares are subject to a 4-month minimum hold period.

In connection with this financing, a 6 % cash finder's fee will be paid out to the following participants. The Corporation will also grant the following participants, agent's warrants to acquire the number of units equal to 3 % of the units subscribed for by the participant'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.



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Participants Finder's Fee Agent warrants
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Research Capital Corporation $13,056.00 21,760
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Wolverton Securities Ltd. $8,820.00 14,699
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Leede Financial Markets Inc. $7,799.22 12,999
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Investpro Securities Inc. $7,200.00 12,000
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Sugarhill Capital Inc. $5,100.00 8,500
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Jones Gable & Company Ltd. $4,800.00 8,000
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Loeb Aron & Company Ltd. (UK) $4,140.00 6,900
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3974715 Canada Inc. $3,240.00 5,400
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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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