SearchGold Resources Inc.

SearchGold Resources Inc.

March 03, 2005 11:49 ET

SearchGold Expands Its Gabon Gold Exploration Properties


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: SEARCHGOLD RESOURCES INC.

TSX VENTURE SYMBOL: RSG

MARCH 3, 2005 - 11:49 ET

SearchGold Expands Its Gabon Gold Exploration
Properties

MONTREAL, QUEBEC--(CCNMatthews - March 3, 2005) - SearchGold Resources
Inc. (TSX VENTURE:RSG) today announces its 90%-owned Gabonese subsidiary
has been granted the 2,294 km2 Magnima exploration permit in Gabon.
This permit surrounds the 24 km2 Bakoudou exploitation permit where the
Company is currently exploring for gold.

Maurice Giroux, President of SearchGold states "We are very pleased to
have been granted this large prospective land package surrounding our
current holdings. The Magnima greenstone belt does contain indications
of gold mineralization. Our local presence and experience puts us in an
excellent position to explore this area. The Magnima permit also
provides us a secure buffer around our Bakoudou project"

In 1991 BRGM explored in the area and collected rock samples with
anomalous gold values (see attached map for locations). There is also
the presence of several ancient artisanal gold workings which
demonstrate the gold potential of the Magnima greenstone belt.

SearchGold is currently compiling previous historical exploration
results and is planning exploration work for the permit.

On the Bakoudou property, SearchGold has identified a 2.2 kilometre
mineralized structure and is completing a bankable feasibility study on
the A-Zone portion of this mineralized structure. The A-Zone contains a
combined oxide-sulfide measured and indicated resource of 277,380 oz Au
(2,100,000 metric tons at a grade of 2.45 g/t Au in oxide and 570,000
metric tons at a grade of 6.11 g/t Au in sulfide) (Met-Chem Canada -
Bakoudou scoping study, February 2003).

The Company also wishes to announce that the Q1 financial statements
will be filed this Friday.

About the Company

SearchGold Resources is a Canadian based mining exploration company
whose primary mission is to target, explore and develop diamond and gold
deposits in Africa and Canada. SearchGold is developing two advanced
projects: the Bakoudou Gold Project in Gabon and the Mandala Diamond
Project in Guinea. SearchGold's project strategy maximizes its
experience and resources, and supports the company's commitment to
strengthen shareholder value. Find out more about SearchGold Resources
by visiting http://www.searchgold.ca.

A map is available on CCNMatthews' website at the following address:
http://www2.ccnmatthews.com/database/fax/2000/rsga0303.jpg

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


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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    SearchGold Resources
    Maurice Giroux
    President
    (514) 866-4224
    info@searchgold.ca
    or
    Investor Relations Contacts:
    VanGo Holdings Inc.
    Michael Landau (New York)
    (917) 441-8772
    mlandau@vango.net
    or
    Cavalcanti Hume Funfer Inc. (CHF)
    Nick Kohlmann, M.Sc.
    (416) 868-1079x222
    nick@chfir.com
    www.chfir.com
    If you would like to receive press releases via email please contact:
    info@searchgold.ca