RSG Searchgold Resources Inc.

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA OR THROUGH U.S. WIRE SERVICES.

SearchGold Resources Inc. ("SearchGold" or the "Company") (TSX VENTURE:RSG)
(FRANKFURT:S1O) is pleased to provide the following update on its current
activities. 




1.  At a special meeting of shareholders of the Company held in Montreal on
    October 7, 2011, shareholders of the Company approved a share
    consolidation on the basis of eight (8) pre-consolidation shares for one
    (1) post-consolidation share (the "Share Consolidation"). Following
    receipt of approval from the TSX Venture Exchange (the "TSX-V") to
    effect the Share Consolidation, SearchGold shares commenced trading on
    the TSX-V on a consolidated basis on November 1, 2011. As of the date
    hereof, there are 18,591,271 shares of SearchGold issued and
    outstanding. 
    
    
2.  The Company intends to explore and develop its 100% owned Mandiana
    Property, located in eastern Guinea and is currently working towards
    creating an exploration program for the property. Management of
    SearchGold is encouraged by its review of previous exploration results
    and the available historical data at the Mandiana Property. Details of
    the previous explorations program and the results were disclosed in a
    press release of the Company dated February 14, 2007 
    
    
3.  The Company holds an interest in the Gueguere project located in Burkina
    Faso which is currently being developed by Swala Resources Inc.
    ("Swala"). SearchGold's ownership interest in the Gueguere Project is
    subject to the terms of a Joint Venture Agreement with Swala Resources
    Plc which was entered into on January 28th, 2011 and previously
    disclosed on February 1st 2011. Swala recently communicated to
    Searchgold its program for the Gueguere Project in 2012: "Following on
    the completion of the airborne geophysical survey, the objective of this
    program is now to determine the potential for gold mineralization on
    both the Zogyon and Oronkua licences with a particular emphasis on the
    southern Zogyon anomaly that is situated in a mineralized zone with
    high-grade intersections and has historical data indicating considerable
    potential". 
    
    
4.  The Company currently retains a 0.75% NSR in a near-term gold production
    project, known as "Bakoudou-Magnima" in Gabon owned by Managem
    International A.G. The NSR may provide SearchGold with potential near
    term cash flow assuming the gold project successfully extracts revenues
    from its mill feed. SearchGold could also benefit from any future
    expansion and discoveries on the project. Managem communicated to
    Searchgold that it has completed the preliminary mine work on the
    project and is scheduled to start production by the end of Q4, 2011.
    Once the production commences, the NSR will be payable on a quarterly
    basis. Details of the NSR were disclosed in a press release of the
    Company dated May 19, 2011. 
    
    
5.  RSG also retains equity investments in 3 mining companies: 
    
    - Swala Resources plc: 0.91 Million post consolidated shares
    (see:www.swalaresources.com)
    
    - Stellar Diamonds plc: 1.7 million shares (see: www.stellar-
    diamonds.com); and 
    
    - Golden Share Mining Corporation: 2.1 million shares (see:
    www.goldenshare.ca)
    

6.  As announced on July 13, 2011, SearchGold enhanced the depth of its
    board of directors.



Given the foregoing developments, management of SearchGold believes that the
Company is well positioned to add-value to its projects and benefit from its
existing equity interests. In addition, the Company will continue to target high
potential exploration projects - primarily in Africa. 


Stanley Robinson, M.Sc., is the 'qualified person' (as such term is defined
under National Instrument 43-101) of the Company who has reviewed the scientific
and technical information contained in this release.


About SearchGold Resources

SearchGold is a Canadian-based mining exploration company whose primary mission
is to target, explore and develop gold deposits in Africa. The Company is
currently involved in Burkina Faso, Gabon and Guinea. Through a series of
successive innovative transactions, SearchGold has been able to retain an
interest in all the important assets it has acquired and developed during its
existence as a public company.


Forwarding Looking Statements

Except for statements of historical fact contained herein, the information in
this press release may constitute "forward-looking information" within the
meaning of Canadian securities law. Other than statements of historical fact,
all statements are "forward-looking statements", including statements concerning
the Company's African projects, investments and potential NSR and such factors
and/or events involve various known and unknown risk and uncertainties and other
factors, such as market conditions. There can be no assurance that such
statements will prove accurate. Results and future events could differ
materially from those anticipated in such statements. Readers of this press
release are cautioned to not place undue reliance on these "forward-looking
statements". Except as otherwise required by applicable securities statutes or
regulation, SearchGold expressly disclaims any intent or obligation to update
public forward-looking information, whether as a result of new information,
future events or otherwise.

Searchgold Resources Inc. (TSXV:RSG)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Searchgold Resources Inc. (TSXV:RSG)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024