Gold Exploration in West Africa

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Searchgold's (RSG.V) methods in Gabon (no results given)

Searchgold Provides an Update on Bakoudou-Magnima Gold Project in Gabon

MONTREAL, QUEBEC, Jul 11, 2006 (MARKET WIRE via COMTEX) -- SearchGold Resources Inc. (CA:RSG: news, chart, profile) (FSE: S10) hereby provides an update regarding the surface work program on its Bakoudou-Magnima Gold Project located in Gabon in Africa.

In July 2005, SearchGold signed a strategic $4,200,000 joint venture agreement on the Bakoudou-Magnima Gold Project with Managem, a successful, established African-based mining company ( www.managem-ona.com). Through its subsidiaries, Managem, the mining branch of ONA, operates 6 mines in Morocco and was also involved in the development of two gold mines in West Africa, the Kiniero mine in Guinea and the recently commissioned Samira Hill mine in Niger.

The Bakoudou-Magnima Gold Project comprises the Magnima prospecting authorization with a 2,294 km2 surface area and the Bakoudou exploitation permit with a surface area of 24 km2. Zone A, SearchGold's first advanced target located on the Bakoudou permit, sits at the southern extremity of a 3 km northwest trending gold bearing corridor.
In line with SearchGold's corporate objectives to achieve producer status while maximizing the blue sky potential of its properties, the current program is designed to fast track a production decision on an optimized resource estimate while immediately testing Zone A's proximal targets.

As of July 5th 2006, the following surface work had been executed.

Work on Bakoudou

The object of this work is to insure a complete coverage of the Bakoudou permit with ground geophysics and surface soil geochemistry. A total of 260 km of lines were cut at a 100 m spacing with an orientation of 076 degrees, representing 100% of the set objective.
Magnetic profiles were executed with a 100 m line spacing and readings taken every 12,5 m. The magnetic survey is 100% complete.

Following positive results from induced polarization tests on Zone A, it was decided to cover the entirety of the permit with a 200 m line spacing and a depth of investigation of 80 to 100 m. The induced polarization survey is 90% complete.

A total of 4244 geochemistry soil samples were taken to this date, representing 42% of the total planned coverage. The geochemical soil profile are executed with a 100 m line spacing and samples area taken every 25 m. Details regarding the sampling method as well as preparation and analysis are given below.

Work on Magnima

The object of this work is to insure the coverage of a 5 to 7 km wide belt surrounding the Bakoudou permit. A preliminary lineament study highlighted the presence of structural features similar to the ones observed on Zone A and one of the partnership's objectives being the identification of satellite bodies, a semi-regional exploration stream sampling program has been initiated in parallel to the detail work carried out on Bakoudou.
The work was executed by blocs, respectively located north, west, south and east of the Bakoudou permit.
The following blocs were investigated :

- North Bloc : 14,0 km x 8,5 km for a total surface area of 119 km2
and the sampling of 150 stream samples (average of 1,27 sample /
km2).
- West Bloc : 7,0 km x 6,7 km for a total surface area of 47 km2 and
the sampling of 74 stream samples (average of 1,6 sample / km2).
- South Bloc : 8,0 km x 6,0 km for a total surface area of 48 km2 and
42 samples already located.


Details regarding the sampling method as well as preparation and
analysis are given below.

Procedure regarding geochemistry soil samples
The sampling is carried out on every line with a 25 m spacing under the supervision of a geological technician verifying and controlling the reliability of the sampling. An initial quantity sufficient to obtain approximately 100 g of -125 microns m material after drying and sieving is taken.

Each sample, of an approximate weight of 1,5 kg, is a composite of three sub-samples ; the first one is taken directly on the line while the other two are taken 10 m away perpendicularly on each side of the line. While the samples are being taken, a geomorphological map is executed on which the direction and intensity of the slope for each sampling point is indicated.

Procedure regarding geochemsitry stream samples

The geochemsitry stream samples are taken according to a set sampling pattern established on the basis of the topography and hydrographic basin specific to each Bloc.
The sampling is carried out under the supervision of a geological technician verifying and controlling the reliability of the sampling. An initial quantity sufficient to obtain approximately 50 g of -125 microns m material after drying and sieving is taken; each sample having an initial approximate weight of 7,0 kg.

Analysis of the samples

Samples area analyzed with an atomic absorption method at Abilab's laboratory in Mali. The method consists in dissolving the samples in aqua regia followed by the determination of the dissolved gold content by atomic absorption spectrophotometry following organic solvent extraction (DIBK). The analysis is executed on 30 g aliquots and a 2 ppb detection limit is achieved. A rigorous QA/QC program established by the laboratory involves the random inclusion of standards, duplicates and blanks at the sample collection and preparation stage.

SearchGold Resources is a Canadian based mining exploration company whose primary mission is to target, explore and develop gold and diamond deposits in Africa and in Canada. SearchGold's project strategy maximizes its experience and resources, and supports the company's commitment to strengthen shareholder value.

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FOR FURTHER INFORMATION PLEASE VISIT http://www.searchgold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Contacts: SearchGold Resources Inc. Philippe Giaro President & CEO 32-473-52-30-29 [e-mail] SearchGold Resources 514-866-4224 [e-mail]
SOURCE: SearchGold Resources Inc.
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