St Andrew Goldfields Ltd.
TSX : SAS

St Andrew Goldfields Ltd.

September 14, 2005 11:29 ET

St Andrew Announces Sale Of Its 28.3% Interest In Geoinformatics Exploration

OAKVILLE, ONTARIO--(CCNMatthews - Sept. 14, 2005) - St Andrew Goldfields Ltd. (TSX:SAS) ("St Andrew") wishes to announce that it has reached a binding agreement to sell its 28.3% interest in Geoinformatics Exploration Inc. (TSX VENTURE:GXL) ("Geoinformatics").

The 28.3% interest, comprised of 20 million Geoinformatics shares (15 million of which are escrowed pursuant to the terms of the TSX Venture Exchange Value Escrow arrangements), will be sold at a price of $0.175 per share for total gross proceeds of $3,500,000 to certain managed accounts and investment funds managed by Sun Valley Gold LLC and certain investment funds managed by Geologic Resources Partners LLC. Completion of the sale is expected to occur prior to September 30, 2005.

St Andrew considers the 28.3% interest in Geoinformatics as a non-core asset, but retains its access to and utilization of the Geoinformatics Process and other Geoinformatics services through a Master Collaboration Agreement between the companies.

A 6% commission is payable to ZED Financial Partners.

St Andrew is a gold mining and exploration company with near term gold production expected from its Stock Gold Complex, Timmins, Canada and Nixon Fork Gold Mine, Alaska. The company controls a large land position in the Timmins Mining Camp, an extensive land position at Eskay Creek in northern British Columbia, Canada and exploration properties in the Kuskokwin Tintina Mining Belt around the Nixon Fork Gold mine.

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.

Shares Outstanding - 599.7 million

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

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