St Andrew Goldfields Ltd.

St Andrew Goldfields Ltd.

January 29, 2008 16:15 ET

St Andrew Announces Temporary Manpower Reduction at the Holloway Holt Camp

OAKVILLE, ONTARIO--(Marketwire - Jan. 29, 2008) -


St Andrew Goldfields Ltd. (TSX:SAS) ("St Andrew" or the "Company") announces that it has reduced its manpower complement at the Holloway Holt Camp from 192 to 113 by placing 79 employees on temporary lay-off.

The employees receiving the temporary lay-off notices are underground miners, support surface and underground workers who were involved in the underground development activities of the Holloway Holt Mine in 2007. These activities have now been completed to a stage where the Company can focus its efforts on definition drilling activities at the Holloway Holt Mine. The Company anticipates being able to sufficiently advance the diamond drilling program in the next few months so as to be in a position to recall the workers affected by the temporary lay-off and resume suspended development activities. The intensive diamond drilling program will allow for the completion of an independent National Instrument 43-101 compliant technical report for the Holloway Holt Mine which will be used for the purpose of making a production decision.

About St Andrew

St Andrew is a gold mining and exploration company with operations in Timmins, Ontario and Alaska. St Andrew controls a very large land position in the Timmins Mining Camp, an extensive land position at Eskay Creek in northern British Columbia and land positions around Nixon Fork Gold Mine in the Kuskokwim-Tintina Mining Camp in Alaska. St Andrew also holds an approximate 42.9% equity interest in New Zealand based gold explorer Glass Earth Gold Limited which holds extensive land positions on the North and South Islands in New Zealand and a 18.4% equity interest in Apollo Gold Corporation which has operations in Montana, Mexico and the Black Fox Deposit located in the vicinity of St Andrew's Timmins operations.


The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary material include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers should refer to the Company's Annual Information Form filed at for a further discussion of such risks, uncertainties and factors. Readers are cautioned not to place undue reliance on this forward-looking information. St Andrew does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Contact Information