St Andrew Goldfields Ltd.
TSX : SAS

St Andrew Goldfields Ltd.

September 04, 2007 17:22 ET

St Andrew Increases Position in Apollo Gold Corporation to 19.99%

OAKVILLE, ONTARIO--(Marketwire - Sept. 4, 2007) - St Andrew Goldfields Ltd. (TSX:SAS) ("St Andrew" or the "Company") wishes to announce that it has increased its investment in Apollo Gold Corporation to 19.99%.

St Andrew acquired an additional 10,675,000 common shares of Apollo Gold Corporation on August 31, 2007 for a total of 28,675,000 common shares. As of September 4, 2007 St Andrew holds a 19.99% equity interest in Apollo Gold Corporation.

St Andrew acquired these shares in the open market for investment purposes and depending on market conditions and other factors may increase or decrease its holdings in Apollo Gold Corporation in the future.

About St Andrew

St Andrew is a gold mining and exploration company with operations in Timmins, Ontario and Alaska, USA. 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 in the Kuskokwim-Tintina Mining Camp in Alaska. St Andrew also holds an approximate 50.2% equity interest in New Zealand based gold explorer, Glass Earth Limited (TSX VENTURE:GEL) and a 19.99% equity interest in Apollo Gold Corporation.

For further information about St Andrew Goldfields Ltd., please contact Investor Relations at 416-368-3116 or toll-free at 1-800-463-5139 or email investor@standrewgoldfields.com.

FORWARD LOOKING STATEMENTS

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 www.sedar.com 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.

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