SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S10

SearchGold Resources Inc.

July 14, 2008 09:00 ET

SearchGold Completes a $500,000 Financing

MONTREAL, QUEBEC--(Marketwire - July 14, 2008) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FRANKFURT:S1O) is pleased to announce the closing of a non-brokered financing for an amount of $500,000. The Corporation will issue 500 units, each unit including 10,000 common shares of the Corporation at a price of $0.10 per share and 10,000 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 $0.15 per common share at any time before July 11, 2009. These new shares are subject to a 4-month minimum hold period. 2 officers participated to this financing.

In connection with this financing, a 9 % cash finder's fee will be paid out to the following participants. The Corporation will also grant the following participants, finder's warrants to acquire the number of units equal to 10 % of the units subscribed for by the participant's investors. Each finder's warrant shall be exercisable into 1 unit at a price of $0.10 per unit valid until July 11, 2009.



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Participants Finder's Fee Finder's
Warrants
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Lightyear Capital Inc. $13,500.00 150,000
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Jennings Capital Inc. $10,620.00 118,000
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Wolverton Securities Ltd. $9 450.00 105,000
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Loeb Aron & Company Ltd. (UK) $2,250.00 25,000
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Brant Securities Ltd. $1,800.00 20,000
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Research Capital Corporation $1 350.00 15,000
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Union Securities Ltd. $900.00 10,000
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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 deposits in Africa. The expansion strategy executed in 2006 has set the stage for the Company's development in 2007 through increased activity on the advanced projects, a new acquisition and the segmentation of its activities to unlock value for its shareholders. SearchGold's diamond assets were re-organized along with Mano River Resources Inc., to create an integrated diamond company called Stellar Diamonds Limited of which SearchGold holds 2.7 million shares. SearchGold's Canadian gold assets were also re-organized through the creation of Golden Share Mining Corporation (GSH-TSXV), a dynamic junior exploration company focused on gold exploration in Canada.

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

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