St Andrew Goldfields Ltd.

St Andrew Goldfields Ltd.

February 25, 2005 10:39 ET

St Andrew Announces Proceeds From The Exercise Of Warrants


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: ST ANDREW GOLDFIELDS LTD.

TSX SYMBOL: SAS

FEBRUARY 25, 2005 - 10:39 ET

St Andrew Announces Proceeds From The Exercise Of
Warrants

OAKVILLE, ONTARIO--(CCNMatthews - Feb. 25, 2005) - St Andrew Goldfields
Ltd. (TSX:SAS) ("St Andrew") is pleased to announce that, further to the
repricing and extension of its arm's length warrants, announced on
January 31, 2005, 35,725,410 warrants were exercised by February 21,
2005 for 35,725,410 common shares of St Andrew at an exercise price of
$0.10 per share, for proceeds of $3,572,541.

St Andrew is a gold mining and exploration company with near term gold
production expected from its Stock Gold Complex, Timmins and Nixon Fork
Gold Mine, Alaska. The company controls a large land position in the
Timmins Mining Camp and holds a 59.3 % interest in Heritage
Explorations, the holder of an extensive land position at Eskay Creek in
northern British Columbia. St Andrew also owns a 28.3 % interest (20
million shares) in Geoinformatics Exploration Inc.

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.

This press release shall not constitute an offer of securities for sale
in the United States. Securities of St Andrew may not be offered or sold
in the United States absent registration or an exemption from
registration.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    St Andrew Goldfields Ltd.
    Glenn Laing
    President and CEO
    (905) 815-9855
    (905) 815-9437 (FAX)
    glaing@standrewgoldfields.com
    or
    St Andrew Goldfields Ltd.
    Miles Speedie
    Corporate Development and Investor relations
    (905) 815-9855
    (905) 815-9437 (FAX)
    mspeedie@standrewgoldfields.com
    The TSX has not reviewed and does not accept responsibility for the
    adequacy or accuracy of this release.