RSG Searchgold Resources Inc.

(TSX VENTURE:RSG)(FRANKFURT:S1O)

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES.


SearchGold Resources Inc. (the "Company" or " SearchGold") (TSX
VENTURE:RSG)(FRANKFURT:S1O) is pleased to announce that it has closed a private
placement of 10,000,000 shares (each, a " Share") at a price of $0.05 per Share
for aggregate gross proceeds of $500,000 (the "Private Placement").


The Private Placement was non-brokered. The Private Placement is subject to the
final approval of the TSX Venture Exchange.


The net proceeds to SearchGold will be used to resume the work program on the
Company's 100% owned Mandiana project which is located in eastern Guinea, West
Africa, as well as for working capital and general administrative purposes.


In connection with the closing of the Private Placement, SearchGold paid
finders' fees to various finders in an amount of $9,370, representing 1.9% of
the gross proceeds raised in the Private Placement. All securities issued
pursuant to the Private Placement are subject to a four month hold period.


About SearchGold Resources

SearchGold is a Canadian-based mining exploration company whose primary mission
is to target, explore and advance gold properties of merit in Africa. The
Company currently has mineral interests in Burkina Faso, Gabon and Guinea.


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 the use of the net
proceeds of the Private Placement that 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 not to 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 publicly forward-looking information, whether as a result
of new information, future events or otherwise.

Searchgold Resources Inc. (TSXV:RSG)
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