St Andrew Goldfields Ltd.

St Andrew Goldfields Ltd.

July 08, 2005 16:17 ET

St Andrew Goldfields Ltd.: Re-filing of March 31, 2005 Quarterly Financial Statements

OAKVILLE, ONTARIO--(CCNMatthews - July 8, 2005) - St Andrew Goldfields Ltd. (TSX:SAS) ("St Andrew") wishes to advise that the March 31, 2005 Quarterly Financial Statements were revised and re-filed on SEDAR on July 8, 2005.

The revisions were related to adjustments for future taxes and warrant valuations and all the revisions are related to non-cash items.

These revisions resulted from a review of the March quarterly financials that were included in the Management Information Circular for the St Andrew - Heritage Explorations Ltd. Plan of Arrangement.

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 64.7 % interest in Heritage Explorations Ltd., 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 or contact Investor Relations toll-free at 1-800-463-5139 or email

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

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