St Andrew Goldfields Ltd.
TSX : SAS

St Andrew Goldfields Ltd.

September 30, 2005 16:48 ET

St Andrew Goldfields Completes Sale of its Interest in Geoinformatics Exploration

OAKVILLE, ONTARIO--(CCNMatthews - Sept. 30, 2005) - St Andrew Goldfields Ltd. (TSX:SAS) announces that it has completed the sale of its interest in Geoinformatics Exploration Inc. (TSX VENTURE:GXL) for gross proceeds of $3,500,000.

As previously announced, St Andrew sold 20 million Geoinformatics shares (15 million of which are escrowed pursuant to the terms of the TSX Venture Exchange Value Escrow arrangement), at a price of $0.175 per share to certain managed accounts and investment funds managed by Sun Valley Gold LLC and certain investment funds managed by Geologic Resources Partners LLC.

St Andrew retains its access to and utilization of the Geoinformatics Process and other Geoinformatics services through a Master Collaboration Agreement between the companies.

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.

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