SearchGold Resources Inc. ("SearchGold") (TSX VENTURE:RSG)(FRANKFURT:S1O) will
seek shareholder approval at its Special meeting of shareholders to be held on
June 23, 2010, to consolidate its common shares at a ratio of one (1) new share
for each tranche of ten (10) outstanding common shares. In order to be
effective, the consolidation resolution must be approved by at least two third
of the shareholder votes cast at the Meeting and be accepted by the TSX Venture
Exchange.


Management believes that having less shares outstanding will facilitate the
future financings necessary to continue the development of the Company.
SearchGold now has 148,530,171 common shares outstanding. If the consolidation
is approved, the Company will have approximately 14,853,017 common shares
outstanding. The Company will not change its name but would have a new stock
symbol.


In addition, Mr. Denis Tremblay submitted his resignation as Vice president,
Corporate Secretary and Director of SearchGold for personal reasons. The board
of directors would like to thank Mr. Tremblay for his involvement and dedication
over the past 14 years and wishes him well. 


FOR FURTHER INFORMATION PLEASE VISIT http://www.searchgold.ca
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