SearchGold Resources Inc.

SearchGold Resources Inc.

July 13, 2011 09:30 ET

SearchGold Resources Inc. Announces Board and Management Changes

TORONTO, ONTARIO--(Marketwire - July 13, 2011) -


SearchGold Resources Inc. ("SearchGold" or the "Company") (TSX VENTURE:RSG)(FRANKFURT:S1O) is pleased to announce that it has enhanced the depth of its board of directors and is entering into an agreement with Mr. Stanley Robinson to assume the role of President and Chief Executive Officer. The agreement is subject to TSX Venture Exchange approval.

"We are very excited about the addition of the new members to our team, and believe that they can be of great assistance in revitalizing SearchGold and adding to shareholder value in the coming months", said Philippe Giaro, who will now assume the role of Chairman. Mr. Giaro also thanked the two outgoing directors, Messrs. Jean Nannan and Florent Baril, for their contributions to the company.

"I am excited about my new role with SearchGold" said Mr. Robinson. "The company has a core of good assets, but I believe can be better positioned corporately to take advantage of its opportunities. In view of the current market conditions and stock price, it is likely that we will be considering a share consolidation, but, in order to ensure that all current shareholders are accorded appropriate consideration in the newly structured company, the Board of Directors is currently considering undertaking a financing through a shareholders' rights offering immediately following the consolidation".

The following are brief biographies of the incoming directors.

Stanley Robinson, M.Sc., P. Geo

President and CEO, Director

A Canadian geologist with over 30 years of experience in Africa and Canada, including six years with International Gold and Ashanti Goldfields in Burkina Faso and Ghana. Mr. Robinson served as a director and President of Lakota Resources Inc. and managed the Company's exploration projects and joint ventures in Tanzania. In Burkina Faso Mr. Robinson delineated a resource of 1.3 million ounces of gold on the Youga project; Youga is now in commercial production. His dominant technical expertise is in the management of gold and base metal exploration projects from grassroots to pre-feasibility stage, geological interpretations with an emphasis on structure and alteration, and in the identification of projects with economic potential. His exploration experience includes date base compilations and ore deposit interpretations used to calculate ore resources for pre-feasibility studies. Mr. Robinson is registered as P. Geo; Association of Professional Engineers and Geoscientists, Manitoba. He is a Fellow of the Geological Association of Canada and a member of : the Canadian Institute of Mining, Metallurgy and Petroleum; the Prospectors and Developers Association of Canada; and the Society of Economic Geologists.

Maurice Colson

Corporate Finance, Director

Mr. Colson has worked in the investment industry for more than 35 year and was for many years managing director for a major Canadian investment dealer in the United Kingdom. He is actively involved in providing strategic counsel and assistance with financing to emerging private and public companies in Canada and to Canadian companies operating in China, Africa and South America. He sits on the board of directors of several TSX and TSX Venture listed companies and is the former President and CEO of Lithium One Resources. Mr. Colson holds a Masters of Business Administration degree from McGill University in Montreal.

David Carbonaro

Corporate Secretary, Director

David Carbonaro is a partner at Heenan Blaikie LLP and practices corporate finance and international law. He also advises public companies, securities dealers and investment banks on corporate finance matters in the resource sector.

About SearchGold Resources

SearchGold is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Africa. The Company is currently involved in Burkina Faso, Gabon and Guinea. Through a series of successive innovative transactions, SearchGold has been able to retain an interest in all the important assets it has acquired and developed during its existence as a public company.

This press release in not for distribution to the United States newswire services or for dissemination in the United States.

Except for statements of historical fact contained herein, the information in this press release may constitute "forward-looking information" within the meaning of Canadian securities law. Other than statements of historical fact, all statements are "forward-looking statements", including the Record Date, use of proceeds, size and pricing of the Offerings that involve various known and unknown risk and uncertainties and other factors, such as market conditions. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned to not place undue reliance on these "forward-looking statements". Except as otherwise required by applicable securities statutes or regulation, SearchGold expressly disclaims any intent or obligation to update public forward-looking information, whether as a result of new information, future events or otherwise.


Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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