SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S10

SearchGold Resources Inc.

June 10, 2008 09:00 ET

SearchGold Drills 13.68 g/t Au Over 12.50 m on Zone A And 7.70 g/t Au Over 7.50 m Downdip From Zone A, on Bakoudou, Gabon

MONTREAL, QUEBEC--(Marketwire - June 10, 2008) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FRANKFURT:S1O) is pleased to provide an update on its Bakoudou-Magnima Gold Project located in Gabon, Africa.

Diamond drilling is on-going and in April 2008 the drill hole data base had been upgraded to 319 BQ-NQ diameter core holes. The recent additional holes were drilled near surface, between 0 and 50 m, and were aimed at providing a better definition of Zone A to increase the proportion of measured resources in the final resource calculation. Some of the highlights of this in-fill drilling include:



- 4.16 g/t Au over 10.75 m from 8.25 m to 19.00 m in hole BAPG-30
- 4.46 g/t Au over 8.40 m from 30.30 m to 38.70 m in hole BAPG-33
- 4.77 g/t Au over 9.95 m from 39.50 m to 49.45 m in hole BAPG-36
- 6.66 g/t Au over 21.80 m from 7.60 m to 29.40 m in hole BAPG-41
- 7.87 g/t Au over 7.27 m from 22.63 m to 29.90 m in hole BAPG-42
- 3.44 g/t Au over 12.00 m from 38.00 m to 50.00 m in hole BAPG-43
- 13.68 g/t Au over 12.50 m from 40.50 m to 53.00 m in hole BAPG-53
- 3.24 g/t Au over 14.10 m from 35.90 m to 50.00 m in hole BAPG-122bis
- 3.36 g/t Au over 11.00 m from 29.25 m to 40.25 m in hole BAPG-140


Additionally, on going peripheral drilling was executed to identify mineralized extensions, and notably down-dip extensions of Zone A. During this phase, two important drill intersections were obtained on sections 100 S and 150 S:

- 7.70 g/t Au over 7.50 m from 152.00 m to 159.50 m

- 1.43 g/t Au over 20.10 m from 110.00 m to 130.10 m

These intersections are significant as they prove that the deposit remains open at depth and demonstrate the continuity in width (20.10 m in the case of hole BH-02) and grade (7.70 g/t Au in the case of hole BA08-C9).

See attached figures: http://media3.marketwire.com/docs/Bakoudou100S.pdf and http://media3.marketwire.com/docs/Bakoudoua150S.pdf

The complete results are presented below.

Section 150S

Hole BH-02, initially drilled for hydrogeological testing, intersected three parallel zones about 75 m down dip from the last know intersection on section 150 S (Hole BA06-33).



---------------------------------------------------------------------------
Drill hole Mineralization
---------------------------------------------------------------------------
number depth azimut dip section from to interval grade
(m) (m) (m) (m) (g/t Au)
---------------------------------------------------------------------------

---------------------------------------------------------------------------
BH-02 180.00 vertical 90 degrees 150S 110.00 130.10 20.10 1.43
139.10 145.20 6.10 0.59
167.10 169.10 2.00 7.90
---------------------------------------------------------------------------


Section 100S

Hole BA08-C9, drilled to verify the down dip extension of Zone A, intersected one rich zone approximately 90 m down dip from the last know intersection on section 100 S (Hole BA06-22).



---------------------------------------------------------------------------
Drill hole Mineralization
---------------------------------------------------------------------------
number depth azimut dip section from to interval grade
(m) (m) (m) (m)(g/t Au)
---------------------------------------------------------------------------

---------------------------------------------------------------------------
BA08-C9 191.50 227 70 100S 152.00 159.50 7.50 7.70
degrees degrees
---------------------------------------------------------------------------


Feasibility study

Work has progressed well since the last update of March 3rd 2008 and the study is in the final stages of validation.

No cut-off grade was applied in the calculation of the above intersections as an exact cut-off grade will be determined from final project statistical evaluations. Moreover, even though the drilling is performed at high angle to the mineralized structures, the above intersections do not represent perfect true widths. Such true widths will be computed and integrated in the final stages of the project modeling.

Individual samples weighting 3kg on average are taken from sawn half core at +/- 1 meter intervals in the mineralized zones with consideration of the geological contacts. A rigorous QA/QC program involves the random inclusion of 10% standards, duplicates and blanks at the sample collection and preparation stage. The samples are flown to the ALS laboratory in Mali for analysis by fire assay on 50g pulp samples. The sample preparation procedure involves the crushing of the entire 3kg sample followed by quartering to obtain a representative 500g sample which is entirely pulverized and out of which a 50g sample is isolated for analysis by fire assay.

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.

In July 2005, SearchGold signed a strategic $4,200,000 joint venture agreement on the Bakoudou-Magnima Gold Project with Managem, a successful, established African-based mining company (www.managem-ona.com). Through its subsidiaries, Managem operates 6 mines in Morocco and was also involved in the development of two gold mines in West Africa.

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 (TSX VENTURE:GSH), 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.

Contact Information

  • SearchGold Resources Inc.
    Philippe Giaro
    President & CEO
    32-473-52-30-29
    phgiaro@skynet.be
    or
    SearchGold Resources Inc.
    Denis Tremblay
    Vice-President
    514-866-4224
    info@searchgold.ca
    or
    CHF Investor Relations
    Alison Tullis
    Account Manager
    416-868-1079 x233
    alison@chfir.com