SearchGold Resources Inc.

SearchGold Resources Inc.

October 11, 2006 09:00 ET

SearchGold Signs Drill Contract for Belleterre Gold Project, Canada

MONTREAL, QUEBEC--(CCNMatthews - Oct. 11, 2006) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FRANKFURT:S1O) announced today the signing of a drilling contract for its Belleterre Gold Project, Canada. The contract was signed with Forage Orbit, a drilling contractor based in Val d'Or, Quebec, Canada for a total of 5,000 m of diamond drilling.

The drilling campaign will target in priority the north east sector of the project where a high grade gold geological context characterized by pyrite-chalcopyrite-galena-sphalerite-gold bearing quartz veins associated with a granite-volcanic contact has been recognized. This area has seen no systematic previous drilling with the exception of SearchGold's recent program which yielded encouraging results of 18.21 g/t Au over 0.33 m, 16.81 g/t Au over 0.40 m and 1.88 g/t Au over 3.60 m (see press release dated September 13th 2006).

The upcoming drill program will first target the immediate depths extensions of the existing surface showings as well as their lateral continuity. Drilling is expected to begin in the month of November 2006 and will be carried out under the supervision of Groupe Conseil Geologica, a geological consultancy office based in Val d'Or, Quebec.

Other promising sectors have been identified and a July 2005 NI 43-101 Technical Report prepared for the Blondeau-Guillet property on behalf of Niogold Mining Corporation indicates that known gold occurrences are in excess of ten and the auriferous mineralization is associated with quartz veins, shear zones and iron formations. A compilation of all existing data will be executed for these occurrences with the objective of bringing these additional targets to the drill-ready stage as soon as possible.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian based mining exploration company whose primary mission is to target, explore and develop gold and diamond deposits in Africa and in Canada. SearchGold's project strategy maximizes its experience and resources, and supports the Company's commitment to strengthen shareholder value.

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