Searchgold (RSG.V), Guinea: termite mounds near Glencar
FOR IMMEDIATE RELEASE
SEARCHGOLD PROVIDES AN UPDATE ON ITS MANDIANA GOLD PROJECT EXPLORATION PROGRAM
Montreal, April 18th 2006 – SearchGold Resources Inc. is pleased to provide an update on the exploration program currently in progress on its Mandiana Gold Property (“the Property”).
The Property is located in eastern Guinea approximately 12 km south of Glencar Mining’s Yanfolila Project where a recent drilling intersection of 55.19 g/t Au over 20 m was returned from a north-south trending gold-bearing structure. Also in the area and located about 35 km to the east in Mali, is Avnel Gold’s Kalana Project gearing up for commercial production in 2007.
The Property has been the object of limited previous exploration work which consisted mostly in soil geochemical sampling and shallow drilling. Significant preliminary drill results were obtained by previous operators with intercepts of 3.68 g/t Au over 10 m on the Karfakolo Prospect, and 1.89 g/t Au over 20 m and 0.94 g/t Au over 47 m on the Intercolonial Prospect.
SearchGold initiated a first phase termite mound sampling program in February 2006 (see press release of February 21st 2006). The object of this program is to achieve a higher degree of accuracy regarding the previously defined soil geochemical anomalies prior to engaging further work. The program is carried out under the supervision of Mr. Pierre Lalande, P. Geol. and former Iamgold Chief Geologist. Mr. Lalande has been involved with gold projects in tropical terrains in the Birimian rocks of West Africa.
The 2,427 planned sampling sites of the first phase program on the Property have now been visited and the corresponding samples are presently in the laboratory for analysis. An update will be released as soon as all results have been received and compiled.
A field visit in Guinea by SearchGold management is planned to assess the results of the first phase and prepare the follow-up work.
PRESS RELEASE
SearchGold Resources Inc.
440 René-Lévesque W. blvd, Suite 1160
Montreal, Quebec H2Z 1V7
StockSymbol :RSG-TSX V
Shares outstanding : 61,922,248
