SearchGold Resources Inc.

SearchGold Resources Inc.

November 22, 2011 08:30 ET

SearchGold Resources Inc. Plans Exploration on its 100% Owned Mandiana Project and Engages Investor Relations Firm

TORONTO, ONTARIO--(Marketwire - Nov. 22, 2011) -


Editors' Note: Three maps are associated with this press release

SearchGold Resources Inc. ("SearchGold" or the "Company") (TSX VENTURE:RSG) (FRANKFURT:S1O) is pleased to provide an update on its 100% owned Mandiana Project in Republic of Guinea ("Guinea") and announces its association with Ubika Corporation ("Ubika") as its investor relations firm.

Mandiana Project

Mandiana is located in eastern Guinea, West Africa, near the southern border of Mali, and is road accessible. The property is underlain by the world famous prolific gold bearing Proterozoic Birimian rocks, host to gold mines in Mali, Burkina Faso, and Ghana including the Ashanti Gold Belt.

The Mandiana Project, acquired by the Company in 2006, is host to four known gold bearing prospects, namely Intercolonial, Karfakolo, N'Diambaye and Fadaninda. Encouraging preliminary drill results obtained by previous operators, unverified by the Company, include 3.68 g/t Au over 10 metres on the Karfakolo Prospect. During December 2006 to January 2007 the Company completed 4,300 metres of drilling in 54 holes. One of these drill holes, collared on the N'Diambaye prospect, returned 12.23 g/t Au over 22 metres. Details of this exploration program and the results were disclosed in a press release of the Company dated May 1, 2007.

Follow-up geological mapping, ground geophysical surveys and further geochemical sampling carried out by the Company in 2007 has further refined the new discovery and has resulted in the discovery of 10 new target areas, notably the Fadaninda prospect; a strong gold-in-soil anomaly near the center of the property. See attached figures at the following address: or visit:

The Company has completed the work commitment to maintain its 100% interest in the Mandiana Project and is currently finalizing an exploration programme to commence in 2012. In addition several major gold producers have expressed an interest in advancing this project. The Company will evaluate all opportunities, including joint venture opportunities, in order to fully capitalize on the exploration potential of the Mandiana Project.

The historical data, prior to the property acquisition by SearchGold in 2006, is from property reports by others, is historical in nature, has not been verified by an independent third party, is presented for information purposes only, it is not to be relied upon and given it was not contained in a NI 43-101 report, is non-compliant with NI 43-101. Moreover, work required to verify the historical data in accordance with NI 43-101 has not been carried out by the Company. Furthermore, the Company does not make any representations or warranties on the accuracy of the historical data.

Investor Relations

SearchGold is pleased to announce that it has engaged Ubika Research (a division of Ubika Corp.) as the Company's investor relations consultant. Ubika Research is a specialized research, analytics, and capital market services company with operations in Toronto and Vancouver, Canada. Ubika will provide research coverage and capital market exposure services, subject to TSX Venture Exchange approval, to the Company. Specifically, Ubika will communicate with its network of brokers, retail advisors, investors, and other members of the resource investment community to increase market awareness of the Company and build new relationships by: (a) preparing and distributing research reports; (b) organizing and conducting presentations on properties held by the Company; and (c) creating a Company profile on Ubika's flagship website portal, a leading interactive forum that brings investors and financial industry professionals together to discover and communicate with small cap companies. The Company engaged Ubika for an initial twelve month term, commencing November 16, 2011, at a monthly fee of $5,000; the term is extendable upon written agreement between both parties. The Company will also issue Ubika 250,000 stock options at an exercise price of $0.10 cents each for a period of 5 years.

About SearchGold Resources

SearchGold is a Canadian-based mining exploration company whose primary mission is to target, explore and advance gold properties of merit in Africa. The Company currently has Mineral Interests 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.

Qualified Person

Stanley Robinson, M.Sc., P. Geo, is the 'qualified person' (as such term is defined under National Instrument 43-101) of the Company who has reviewed the scientific and technical information contained in this release.

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 statements concerning the Company's African projects, investments and potential NSR and such factors and/or events 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.

To view the maps associated with this press release, please visit the following links:

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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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