RSG Searchgold Resources Inc.

SearchGold Resources Inc. ("SearchGold" or the "Company")(TSX
VENTURE:RSG)(FRANKFURT:S1O) announced on May 31st 2010 that it will will seek
shareholder approval at its Special and annual Meeting of shareholders to be
held in Montreal 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-thirds of the shareholder votes cast at the Meeting and be accepted by the
TSX Venture Exchange. 


SearchGold intends to remain focussed on West and Central Africa with the
objective to target, explore and develop high potential gold projects. The
Company has recently been evaluating mining projects in new African
jurisdictions which are geographically accretive with its current position.


President and CEO Philippe Giaro stated: "The recent financial crisis has forced
many Canadian junior exploration companies out of Africa, generally closer to
their home base. SearchGold remains one of the few pure explorers to have
retained its position in this vast, mineral-rich continent through an
established presence in Burkina Faso, Gabon and Guinea. Moreover, with its
current partners, Managem and Swala Resources plc, and through corporate
transactions which resulted in SearchGold's shareholding in Stellar Diamonds plc
and Golden Share Mining Corporation, SearchGold has been able to retain an
interest in all the important assets it has acquired and developed during its
existence as a public company. While its monetary value cannot be determined,
SearchGold's ability to acquire significant assets and identify the right
partners for their development brings intrinsic fundamental long term value to
the Company. This is further enhanced by management's ability to execute the
proper corporate transactions to finance and develop these assets."


While SearchGold is no exception as many junior mining companies are still
suffering from the devastating effects of the recent financial crisis,
SearchGold's share price continues to hinder its development despite the
Company's efforts to advance quality assets. Management therefore believes that
the share consolidation will provide greater financial flexibility and could
better position the Company to raise the funds it requires to finance its
ongoing business.


Given that TSX Venture Exchange rules prevent issuing shares at a price below
$0.05, management considers it highly desirable that the shareholders approve
the consolidation so as to increase the market price of SearchGold's common
shares above that threshold (based on the most recent closing price). Management
therefore recommends a vote in favour of the share consolidation to its
shareholders.


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.

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