SearchGold Resources Inc. ("SearchGold") (TSX VENTURE:RSG)(FRANKFURT:S1O) is
pleased to announce that it has entered into an joint venture agreement
("Agreement") dated January 28th 2011, with Swala Resources plc ("Swala") on the
Gueguere Gold Property ("Gueguere") located in Burkina Faso, West Africa. 


The Gueguere property is located 180 km west of Ouagadougou, Burkina Faso's
capital, in the Boromo birimian greenstone belt between the past producing Poura
mine and Orezone Resources' Bondi project. The Poura past producing mine is
located approximately 35 km north-east of Gueguere and produced over 800,000
ounces of gold before its closure in 1999. The Bondi project is located
approximately 30 km south-west of the Gueguere property and is presently being
developed by Orezone Resources Inc. which has outlined measured and indicated
resources of 4.1 million tonnes @ 2.12 g/t Au for 282,000 ounces of gold.


Swala can acquire an interest of up to 80% in Gueguere by meeting the following
conditions :




--  Swala can earn 25% upon paying SearchGold the sum of US$50,000 and
    agreeing to take over SearchGold's exploration expenditure commitments
    for the two Gueguere exploration licences. 

--  Swala can earn a further 26%, for a total of 51%, upon the completion of
    a Phase 1 program entailing exploration expenditures of US$400,000 on
    each of the exploration licences, for total of US$800,000 over the
    entire property, prior to March 29th 2012. 

--  Providing positive results from the Phase 1 exploration program, Swala
    can earn a further 9%, for a total of 60%, upon the completion of a
    Phase 2 program entailing the execution of a NI 43-101 compliant report
    demonstrating the existence of indicated and inferred resources. Phase 2
    will be executed within such time frame and with the necessary
    associated expenditures to insure full compliance with the Burkina Faso
    Mining Code. 

--  Providing positive results from the Phase 2 program, Swala can earn a
    further 20%, for a total of 80%, upon the completion of a Phase 3
    program entailing the execution of a NI 43-101 compliant preliminary
    feasibility study, followed by a NI 43-101 compliant bankable
    feasibility study concerning any promising targets identified on the
    Property. 



Thereafter SearchGold will participate in the development costs or will be
diluted pro-rata its interest. Swala will be project operator and a technical
committee will be established to overview the development work to be executed on
the property. In the event of commercial production, both parties agree to be
diluted by the 10% Burkina Faso state free carry participation pro-rata their
respective interest in the project.


A first step of the Phase 1 program on Gueguere will involve using the equipment
mobilized to Burkina Faso to execute a low-altitude airborne geophysical survey
to cover the property. 


About Swala Resources plc

Swala Resources plc is a private African explorer with a focus on gold in
Burkina Faso and Zimbabwe. In Burkina Faso, Swala owns 100% of the Arae-Gassel
project directly adjoining to the north Avocet's 1.8 million ounce Inata gold
deposit. In Zimbabwe, Swala has a 50% joint venture interest in 15 gold claims
where a small production plant came on line in December 2010 and a controlling
interest in a 60/40 joint venture with other parties for the exploitation of
high-grade alluvial deposits covering in excess of 15,000 hectares. In addition,
the Company owns carried joint venture interests in exploration projects located
in Gabon and the Democratic Republic of the Congo. Swala's strategy for 2011 is
to grow its resource base on the Arae-Gassel project and provide NI 43-101
reporting with the objective to list the Company on the TSX Venture Exchange in
2011 while concomitantly increasing cash flow from its Zimbabwe gold producing
operations.


About SearchGold Resources Inc. 

SearchGold is a Canadian-based mining exploration company whose primary mission
is to target, explore and develop gold deposits in Africa. The Company is
currently involved in Burkina Faso, Gabon and Guinea. Through innovative
corporate transactions, 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 and intends on leveraging its long established presence in Africa
to pursue its development. SearchGold holds 4.5 million shares of Swala
Resources plc. Please see: www.swalaresources.com for additional information.
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