St Andrew Goldfields Ltd.
TSX : SAS

St Andrew Goldfields Ltd.

March 21, 2006 16:30 ET

St Andrew Announces Flow-Through Share Offering For Up To $6 Million

OAKVILLE, ONTARIO--(CCNMatthews - March 21, 2006) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

St Andrew Goldfields Ltd. (TSX:SAS) ("St Andrew") announces that it intends to conduct a non-brokered private placement offering of flow-through common shares for gross proceeds of up to $6,000,000. Under the offering St Andrew will issue up to 42,857,143 common shares on a "flow-through" basis at $0.14 per share. Insiders of St Andrew intend to subscribe for greater than 50% of the offering and may subscribe for up to 100% of the offering.

Closing is anticipated to occur in April, 2006.

The proceeds from the offering will be used for exploration and development expenses with respect to St Andrew's properties in Timmins, Ontario and Eskay Creek, British Columbia.

The securities issued pursuant to the foregoing will be subject to a four-month hold period. The private placement is subject to the approval of the Toronto Stock Exchange.

For further information about St Andrew Goldfields Ltd., please visit St Andrew's website at www.standrewgoldfields.com or contact Investor Relations toll-free at 1-800-463-5139 or email investor@standrewgoldfields.com.

Shares Outstanding - 668 million

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States.

The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. persons absent registration or an exemption from registration.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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