SearchGold Resources Inc.
TSX VENTURE : RSG
FRANKFURT : S1O

SearchGold Resources Inc.

December 01, 2006 09:15 ET

SearchGold Starts its Drilling Campaign and Resumes its Soil Geochemical Surveys on its Bakoudou-Magnima Gold Project in Gabon

MONTREAL, QUEBEC--(CCNMatthews - Dec. 1, 2006) - SearchGold Resources Inc. (TSX VENTURE:RSG)(FSE:S1O) announced today the start-up of the drilling campaign on its Bakoudou-Magnima Gold Project in Gabon.

Drilling on Bakoudou

The campaign was started on November 8th 2006 and consists in core drilling targeting the eastern part and immediate northern extension of Zone A. Systematic RAB drilling will be initiated shortly on the recently defined and yet untested 1.9 km portion representing 80% of the Bakoudou anomaly (see press release of November 15th 2006).

Soil geochemistry on Magnima / Moyabi anomaly

The Moyabi gold anomaly, located 10 km north-east of Zone A, was defined over approximately 3 km in length during the recent stream geochemistry campaign (see press release of October 25th 2006).

Associated with a north-north-west trending structural corridor, this anomaly is similar to that of Bakoudou's gold corridor. Follow-up work is now in progress on Moyabi and consists in line cutting and soil geochemistry with the objective to bring this new area to the drill ready stage as soon as possible.

Given the presence of structural elements at the regional level displaying similarities with Bakoudou's Zone A, the project in being developed on two simultaneous fronts :

1. Preparation of the various elements relating to Zone A's feasibility study ;

2. Definition of satellite bodies around Bakoudou.

The recently initiated program is perfectly suited for the targeting of these two objectives.

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, the Kiniero mine in Guinea and the recently commissioned Samira Hill mine in Niger.

The Bakoudou-Magnima Gold Project comprises the Magnima prospecting authorization with a 2,294 km2 surface area and the Bakoudou exploitation permit with a surface area of 24 km2. Zone A, SearchGold's first advanced target located on the Bakoudou permit, sits at the southern extremity of a 2.5 km northwest trending gold bearing corridor.

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 is aggressively pursuing the development of its gold projects with three drill programs to be initiated before the end of 2006.

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