RSG Searchgold Resources Inc.

SearchGold Resources Inc. ("SearchGold" or "the Company") (TSX
VENTURE:RSG)(FRANKFURT:S10) is pleased to announce the completion of a $372,000
private placement. The Company will issue 372 units at a cost of $1,000 per
unit.  Each Unit includes 40,000 common shares of the Company at a price of
$0.025 per share and 20,000 common share purchase Warrants. Each Warrant
entitles the holder to purchase one common share of the Company at a price of
$0.05 at any time during the 12-month period from the Closing Date. The shares
to be issued are subject to a 4 month minimum hold period.


In connection with this private placement, a finder's fee will be paid out to
the following :


- Loeb Aron & Company Limited : $20,000 and 800,000 Finder's warrants;

- Lightyear Capital Inc.: $17,200 and 688,000 Finder's warrants.

Each Finder's Warrant shall be exercisable into 1 common share at a price of
$0.05 per share for a period of 12 months from the closing date.


This financing is subject to the approval of the TSX Venture Exchange.

The Company will provide its shareholders with project updates in the coming days.

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