SearchGold Resources Inc.

SearchGold Resources Inc.

May 01, 2007 09:15 ET

SearchGold Cuts Additional Mineralization and Defines High Grade Structure Over 400 M Strike Length on Mandiana, Guinea

MONTREAL, QUEBEC--(CCNMatthews - May 1, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FSE:S1O) is pleased to provide additional assay results of the recently completed drilling campaign on its 100% Mandiana Gold Property located in Guinea, West Africa.

The 4,300 m drilling program consisted in 54 holes and all the results from the 40 holes drilled on the N'Diambaye prospect have been received. Significant highlights include :

1. The N'Diambaye prospect hosts a north-south trending mineralized structure recognized over 400 m with significant high grade intersections :

NDI-02 : 12.23 g/t Au over 22 m from 50 to 72 m towards northern end of the structure.

NDI-39 : 9.63 g/t Au over 6 m from 33 to 39 m defining the southern end of the structure.

-The intersection of hole NDI-02 was previously announced on February 14th 2007. The increase in gold content comes from the integration of fire assay results on pulp tailings. The other mineralized intercepts defining this structure are presented in this press release.

2. Isolated high grade intercepts as well as haloes of lower grade mineralization have also been intercepted outside the north-south structure, such as :

NDI-15 : 54.11 g/t Au over 1 m from 5 to 6 m.

NDI-36 : 0.34 g/t Au over 10 m from 6 to 16 m.

3. The coarse gold fraction represents a significant portion of the mineralization and was not recovered by bottle roll cyanidation. Fire assays on pulp tailings samples yielding +2 g/t Au in cyanidation significantly enhance the gold grades obtained in the drilling program.

Philippe Giaro, President and CEO, observed that "We can now confirm a significant discovery on N'Diambaye's main termite mound anomaly. The grades and intervals returned from our recent drilling suggest a high-grade context as opposed to a lower grade bulk-tonnage style target. No outcrop has so far been observed directly above the gold bearing structure and the high-grade model has to be further confirmed with detailed surface work and additional drilling. We know that the property hosts several areas of stockwork-style mineralization and to have high grade-type mineralization recognized on Mandiana really is an added bonus."

Mineralized intersections with a grade above 1 g/t Au as well as all + 0.1 g/t Au haloes of a minimum width of 3 m are presented in the following table.(See link)

The holes are inclined at 50 degrees; drilled with an azimuth of 270 degrees at to average depth of 80 m. The holes were drilled on seven parallel east-west sections covering a 400 m strike length of the main anomaly.

N'Diambaye North-South zone

The N'Diambaye prospect hosts a north-south trending mineralized structure containing high grade intersections (see attached figure or visit : A preliminary interpretation suggests that this mineralized structure, recognized so far over 400 m, has been intersected on all seven drilling sections. These are, from north to south :

Section 1189600 - hole NDI-33

- 4.50 g/t Au over 1 m from 43 to 44 m

Section 1189500 - hole NDI-28

- 1.38 g/t Au over 1 m from 37 to 38 m

Section 1189450 - hole NDI-02

- 12.23 g/t Au over 22 m from 50 to 72 m

Section 1189400 - hole NDI-10

- 5.29 g/t Au over 1 m from 9 to 10 m
- 1.94 g/t Au over 1 m from 63 to 64 m

Section 1189350 - hole NDI-17

- 1.01 g/t Au over 1 m from 11 to 12 m
- 0.23 g/t Au over 5 m from 26 to 31 m
- 1.39 g/t Au over 1 m from 46 to 47 m

Section 1189300 - hole NDI-24

- 2.40 g/t Au over 1 m from 15 to 16 m
- 1.08 g/t Au over 3 m from 23 to 26 m
- 1.01 g/t Au over 3 m from 56 to 59 m

Section 1189200 - hole NDI-39

- 9.63 g/t Au over 6 m from 33 to 39 m

Three additional early stage observations appear significant.

1. An east-north-east structure appears to be cross-cutting the N'Diambaye north-south zone. This particular structural direction has been measured during surface mapping and its significance on the shape and grade of the mineralization has yet to be recognized.

2. The other mineralized intercepts obtained in this drill program (such as the ones in holes NDI-15, NDI-16 and NDI-05, NDI-36) might represent zones of mineralization parallel to the N'Diambaye north-south zone.

3. Very favorable lithologies have been intersected in the bottom part of some of the drill holes such as a sulfide bearing schist over 20 m in hole NDI-24 from 60 to 80 m.

These three observations must be integrated in a comprehensive model for this new discovery. Detailed surface work and additional drilling will be part of the necessary follow-up to be executed by Mr. Moussa Keita, Ph.D., P. Geol., the new Project Geologist for the Mandiana Property. Mr. Keita will also benefit from the on-going technical support of Mr. Pierre Lalande, P. Geol. and former IAMGold Chief Geologist.

About the drilling program

Four distinct targets were tested with this 4,300 m drilling program which consisted of 54 holes. Two of the targets are gold termite mound anomalies (N'Diambaye and Karfakolo). Two additional targets were identified during field reconnaissance and were considered sufficiently mineralized and geologically significant to warrant drilling. The present release concerns only the N'Diambaye gold termite mound anomaly and additional drill results are pending.

The intersections contained in this release do not represent true widths. The project is at an early stage of exploration and additional surface work is required to fully characterize the setting of the observed mineralization. Moreover, no top end cut-off grade was applied in the calculation of the mineralized intersections presented in this release. A bottom end cut-off grade of 0.1 g/t Au was applied in the calculations and a tolerance of up to 5 m for internal dilution was used in the case of hole NDI-02.

Sample analysis / QA/QC

Reverse circulation drilling was used and the holes are sampled and assayed 100%. One eight of the material recovered is sent for analysis. Individual samples weighting 4kg on average are taken from every 1 meter intervals during drilling. A rigorous QA/QC program involves the random inclusion of standards, duplicates and blanks at the sample collection stage. The samples are shipped to the Abilab laboratory in Ougadougou, Burkina Faso, for analysis by bottle roll cyanidation on 2kg pulp samples. The sample preparation and analytical procedure involves pulverizing the entire 4kg sample followed by quartering to obtain a representative 2kg sample which undergoes bottle roll cyanidation for 24 hours. In cases where bottle roll cyanidation yields assays greater than 2 g/t Au, a fire assay is executed on the pulp tailings and the head grade recalculated.

A duplicate of every 20th sample is sent to the SGS laboratory in Siguiri, Guinea, for control of the assaying procedure by a second laboratory.

The bottle roll cyanidation method coupled with a fire assay on the pulp tailings is a significant component of SearchGold's exploration strategy on the Mandiana property. This procedure insures that the totality of the gold contained in every 2 kg samples is extracted / accounted for as opposed to the traditional sampling / assaying method consisting in a simple fire assay on 50 g aliquots. This traditional method can yield meaningless erratic high results which have a tendency in being cut back, while some significant samples might go unnoticed. The bottle roll cyanidation / fire assay on the pulp tailings method provides a more consistent and meaningful set of results which, in the end, are more representative of the overall grade of the deposit.

The program is carried out under the supervision of Mr. Pierre Lalande, P. Geol. and former IAMGold Chief Geologist who has been involved with gold projects in tropical terrains in the Birimian rocks of West Africa over at least two decades. Philippe Giaro, P.Geol., President and CEO of SearchGold Resources Inc. and Qualified Person for SearchGold, has reviewed and approved the content of this release.

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.

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