RSG Searchgold Resources Inc.

SearchGold Resources Inc. (TSX VENTURE: RSG)(FRANKFURT: S1O) today provided an update on its activities. The current economic situation affects all financial and industrial operators and SearchGold's management believes that in the light of gold's increasing role as a safe haven, its advanced gold assets and its participations in two new mining companies provide the necessary foundations to further develop the Company.

Management has no intention to roll back its shares in the short term and is currently exploring alternative financing solutions to fund the Company with minimal dilution. An overview of the recent developments on all projects follows.

Bakoudou-Magnima, Gabon

A site visit in Gabon by SearchGold's management was executed in October 2008 with Managem, the project's operator. A meeting was also held with the mining authorities in Libreville. Following intense drilling on Zone A and reconnaissance on exploration targets (stream geochemistry, line-cutting, soil geochemistry and preliminary drilling), Managem will now proceed with the compilation of all the recent results to update Zone A's database.

The Bakoudou feasibility study and the environmental impact study have both been filed with the Gabonese authorities. Financing for the project is moving forward and discussions are on-going with several interested institutions.

Arae-Gassel, Burkina Faso

A site visit in Burkina Faso by SearchGold's management was executed in January 2009. All key officials from the mining administration were met with in Ouagadougou and several meetings were also held with Somika SARL, SearchGold's partner in the Arae-Gassel project.

The site visit confirmed the 5 km Kerboule-Yalema trend as a major exploration target. This mineralized gold trend represents a typical subsidiary structure to the +30 km Inata-Kerboule regional shear zone. A similar geological context hosts Wega Mining's 1.4 million oz Inata gold deposit, where mine construction is currently underway, situated 15 km south of SearchGold's property.

Burkina Faso is a stable and functional mining nation with several new gold mines operating and given Arae-Gassel's strategic location, SearchGold intends to increase its focus in this country.

Mandiana, Guinea

In spite of a turbulent political situation which culminated in the death of President Lansana Conte in December 2008, SearchGold has advanced the development of the Mandiana property, albeit at a slower pace than originally expected.

Further surface work has better defined the N'Diambaye and Fadaninda gold anomalies. In particular, SearchGold executed a geophysical ground survey with Terratec Geophysical Services, a specialized German firm applying specific Induced Polarization techniques (gradient array and HIRIP or high-resolution-Induced-Polarisation). A total of 45 km of profiles were executed and the results clearly define the depth extensions of the N'Diambaye and Fadaninda targets.

Booue-Mimongo, Gabon

A follow-up field campaign was executed in the fall 2008 which yielded disappointing results. Consequently, and in line with its corporate strategy to focus on advanced gold assets, SearchGold has dropped its option on the property.

Golden Share Mining Corporation

Golden Share closed a $1,050,000 flow-through placement with Canaccord in late December 2008. Results from a successful 2008 exploration campaign are still coming in and the development strategy for 2009 is currently being planned. Highlights of the 2008 program include initial drilling results on the Malartic Lakeshore property which confirmed the high grade, vein-type nature of the mineralization with an intersection of 39.84 g/t Au over 1.60 m from 24.30 to 25.90 m including 123.50 g/t Au over 0.50 m in hole ML-08-28. SearchGold holds 2.1 million shares of Golden Share Mining Corporation. Please see: www.goldenshare.ca for additional information.

Stellar Diamonds Limited

Stellar Diamonds, a new junior diamond producer, is currently trial mining its first project (Kono, Sierra Leone, greater than3,000 carats produced to date) and a second project is slated for production during the first quarter of 2009 (Mandala, Guinea) combining for a diamond production forecast for 2009 of 100,000 carats. Pre-IPO financings totalled pounds sterling 6,600,000, to make Stellar well funded to develop these two production properties in one of the world's richest diamond fields through Sierra Leone and Guinea. SearchGold holds 2.7 million shares of Stellar Diamonds Limited. Please see: www.stellar-diamonds.com for additional information.

Corporate Matters

Specific projects further updates will be provided in upcoming press releases. SearchGold has updated its corporate profile and presentation which are both available on the Company's web site along with a detailed technical presentation of the Arae-Gassel project.

SearchGold will have a booth at the Prospectors and Developers Association of Canada's Annual Convention (PDAC 2009) to be held March 1st to 4th 2009 in Toronto, Canada. Management will be on site to meet with investors.

About SearchGold Resources Inc.

SearchGold Resources is a Canadian-based mining company primarily focussed on gold deposits in Africa. Shares of SearchGold Resources Inc. are listed for trading on the TSX Venture Exchange as "RSG"; and the Frankfurt Stock Exchange as "S1O".

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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts 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 1-514-866-4224 info@searchgold.ca www.searchgold.ca CHF Investor Relations Alison Tullis Senior Account Manager 1-416-868-1079 x 233 alison@chfir.com