SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S1O

SearchGold Resources Inc.

August 15, 2007 09:00 ET

SearchGold Outlines Significant Gold Anomaly in Soil at Moyabi on Magnima in Gabon

MONTREAL, QUEBEC--(Marketwire - Aug. 15, 2007) - SearchGold Resources Inc. (TSX VENTURE:RSG) (FRANKFURT:S1O) today reported the latest developments regarding the Moyabi gold anomaly on its Bakoudou-Magnima Gold Project in Gabon, Africa.

The Moyabi gold anomaly was first defined by a regional stream geochemical survey and is located 10 km northeast of Zone A (see attached figure or visit: http://www.searchgold.ca). The soil geochemical survey initiated on Moyabi earlier in 2007 (see press release dated March 28th 2007) has now been completed. The objectives of this survey were to confirm the source of the gold observed in the stream samples and to better define the geometry of the target.

A total of 951 soil samples were collected and the results define a broad geochemical soil gold anomaly over a surface area of 1 km2. The results show the presence of a definite north-northwest 1.1 km trend still open towards the south. In the eastern part of the anomaly, an ellipsoidal higher grade core is transected by the main access road (see attached figure or visit : http://www.searchgold.ca).

Philippe Giaro, President and CEO, stated "We are very pleased with these first geochemical soil results on the preliminary new gold zones recently outlined within a 10 km radius of Bakoudou's Zone A. In this specific case, the shape of the anomaly is somewhat different than the one observed at Bakoudou. The anomaly remains open and will be the object of further sampling to define its full extent and geometry. Positive future developments on this type of target could generate resources which would be easy to optimize in the eventuality that a first treatment plant would be constructed to exploit Zone A."

Procedure for Geochemistry Soil Sampling

Sampling was carried out at a 25 m interval on 100 m spaced lines. The quantity taken was sufficient to obtain approximately 100 g of -125 microns m material after drying and sieving. Each sample, weighting approximately 1.5 kg, is a composite of three sub-samples: the first one taken directly from the line; the remaining two were taken 10 m away, perpendicularly on each side of the line. A geomorphological map is being assembled using the sampling results to indicate the direction and intensity of the slope for each sampling point.

Analysis of the Samples

The samples were analyzed with an atomic absorption method at Abilab's laboratory in Mali. The method involves dissolving the samples in aqua regia followed by the determination of the dissolved gold content by atomic absorption spectrophotometry following organic solvent extraction (DIBK). The analysis is executed on 30 g aliquots and a 2 ppb detection limit is achieved. A rigorous QA/QC program established by the laboratory involves the random inclusion of standards, duplicates and blanks at the sample collection and preparation stage.

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 six mines in Morocco and was also involved in the development of two gold mines in West Africa.

In June 2007, SearchGold announced the appointment of SRK Consulting (Canada) Inc. ("SRK") for an engineering mandate concerning assistance for the development of the on-going feasibility study on Zone A. SRK's first site visit with SearchGold's management was conducted in early June 2007 in Gabon and Morocco.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian-based mining company whose primary mission is to target, explore and develop gold deposits in Africa and in Canada. 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

A map of the Bakoudou-Magnima Property is available at the following address: http://www.ccnmatthews.com/docs/searchgold0815.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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