RSG Searchgold Resources Inc.

MONTREAL, QUEBEC (FRANKFURT: S1O) today reported the latest developments regarding the Lekodo gold anomaly on its Bakoudou-Magnima Gold Project in Gabon, Africa.

The Lekodo gold anomaly was first defined by a regional stream geochemical survey and is located 3 km south of Zone A. The soil geochemical survey initiated on Lekodo earlier in 2007 has now been completed confirming the source of the gold observed in the stream samples and providing a southern extension to the mineralization already defined on Bakoudou where SearchGold and Managem are finalizing a feasibility study on Zone A.

A total of 667 soil samples were collected and the results define a geochemical soil gold anomaly with two principal mineralized areas still open to the northwest and the southeast. This anomaly is defined at the +16 ppb Au level with a peak at 101 ppb Au and is accessible by road (A map is available at the following address: http://www.ccnmatthews.com/docs/SGold_map_0116.pdf). It will be the object of further sampling to define its full extent and geometry.

The newly defined Lekodo anomaly is located south of Bakoudou and increases the length of the auriferous trend by 3 km, the Bakoudou-Lekodo gold trend now reaching a surface extension of 6 km.

Philippe Giaro, President and CEO, stated "We are especially pleased with these geochemical soil results as they validate our initial theory that there should be additional gold zones within a 10 km radius of Bakoudou's Zone A. After Moyabi, Lekodo is the second stream geochemical target yielding positive results with the follow-up soil survey. The proximity of this new anomaly to Zone A, where a production decision is expected shortly, is strategic in that positive follow-up work on Lekodo could generate resources which could readily be optimized."

Procedure for Geochemistry Soil Sampling

Sampling was carried out at a 25 m interval on 100 m spaced lines. The quantity taken was sufficient to obtain approximately 100 g of -125 micro m material after drying and sieving. Each sample, weighting approximately 1.5 kg, is a composite of three sub-samples: the first one taken directly from the line; the remaining two were taken 10 m away, perpendicularly on each side of the line. A geomorphological map is being assembled using the sampling results to indicate the direction and intensity of the slope for each sampling point.

Analysis of the Samples

The samples were analyzed with an atomic absorption method at Abilab's laboratory in Mali. The method involves dissolving the samples in aqua regia followed by the determination of the dissolved gold content by atomic absorption spectrophotometry following organic solvent extraction (DIBK). The analysis is executed on 30 g aliquots and a 2 ppb detection limit is achieved. A rigorous QA/QC program established by the laboratory involves the random inclusion of standards, duplicates and blanks at the sample collection and preparation stage.

The program is being executed by Managem under the supervision of Mr. Benyounes Maamar, P. Geol. Philippe Giaro, P.Geol., President and CEO of SearchGold Resources Inc. and Qualified Person for SearchGold, has reviewed and approved the content of this release.

In July 2005, SearchGold signed a strategic $4,200,000 joint venture agreement on the Bakoudou-Magnima Gold Project with Managem, a successful, established African-based mining company (www.managem-ona.com). Through its subsidiaries, Managem operates six mines in Morocco and was also involved in the development of two gold mines in West Africa.

In June 2007, SearchGold announced the appointment of SRK Consulting (Canada) Inc. ("SRK") for an engineering mandate concerning assistance for the development of the on-going feasibility study on Zone A. SRK's first site visit with SearchGold's management was conducted in early June 2007 in Gabon and Morocco.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian-based mining exploration company whose primary mission is to target, explore and develop gold deposits in Africa. The expansion strategy executed in 2006 has set the stage for the Company's development in 2007 through increased activity on the advanced projects, a new acquisition and the segmentation of its activities to unlock value for its shareholders. SearchGold's diamond assets were re-organized along with Mano River Resources Inc., to create an integrated diamond company called Stellar Diamonds Limited of which SearchGold holds 2.7 million shares. SearchGold's Canadian gold assets were also re-organized through the creation of Golden Share Mining Corporation who will focus on exploration principally for gold in Canada. SearchGold intends to distribute a dividend to its shareholders as part of the Golden Share transaction.

If you would like to receive press releases via e-mail please contact: info@searchgold.ca.

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

Contacts: SearchGold Resources Inc. Philippe Giaro President & CEO 32-473-52-30-29 phgiaro@skynet.be SearchGold Resources Inc. Denis Tremblay Vice-President 514-866-4224 info@searchgold.ca www.searchgold.ca CHF Investor Relations Alison Tullis Account Manager 416-868-1079 x233 alison@chfir.com

Searchgold Resources Inc. (TSXV:RSG)
Historical Stock Chart
From Jun 2024 to Jul 2024

Searchgold Resources Inc. (TSXV:RSG)
Historical Stock Chart
From Jul 2023 to Jul 2024