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Searchgold receives Mandala diamond evaluation results

Searchgold Resources Inc RSG
Shares issued 45,777,962 Jun 14 close $0.21
Tue 15 Jun 2004 News Release
Mr. Maurice Giroux reports
SEARCHGOLD RELEASES DIAMOND EVALUATION AND APPOINTS MR. PETER WALKER TO
REVIEW MANDALA/OURIA EXPLORATION DATA
Searchgold Resources Inc. has informed its shareholders that Natural
Diamond Corp of Antwerp, the company's consultant and marketing agent, has
released the results of the evaluation of a diamond parcel delivered May
20, 2004. After deep boiling, the parcel weight, which contains more than
9,000 diamonds, was established at 2,029.71 carats of gem and near gem
quality diamonds.
The average price of that parcel was established at $53.00 (U.S.) per carat
which is consistent with previous announcements for recovered diamonds of
the Mandala III deposit. A sublot consisting of 433 carats of gem quality
diamonds including 92 diamonds weighing over 1.0 carat, averaged a very
significant price of $196.20 (U.S.) per carat. In the gem category, 34 per
cent by weight of the recovered diamonds weighed 1.0 carat and over. A
picture of those diamonds can be seen at www.searchgold.ca/mandala-an.htm.
Searchgold has appointed Peter Walker as geological consultant and
qualified person to overlook all related diamond activities of the company.
Mr. Walker is based in Cape Town, South Africa. From 1995 to 2001, he was
vice-president exploration for Trans Hex Group Limited and furthermore,
appointed in 1999 as group exploration manager. He is curently a director
of various mining companies, public and private, and acts as an independent
geological consultant to a number of international diamond exploration
companies. Mr. Walker is a member in good standing, with registration as a
professional natural scientist (PrSciNat) in the category "geological
science" of the South African Council for Natural Scientific Professions
which is a statutory body that operates in South Africa under the terms of
Section 18(1)(a) of the Natural Scientific Professions Act of 2003.
Mr. Walker's first assignment will be to review and to compile with the
assistance of Mr. Bary, the Mandala project geologist, all existing data of
the Mandala bulk sampling program in progress, and to provide technical
observations and recommendations for the continuity of the program. Also,
he will be responsible to propose and supervise a suitable exploration
program of the adjacent Ouria permit in order to increase the diamond
resources of the project.
The company is convinced that the appointment of Mr. Walker, a
well-renowned diamond geologist, will be at this stage very beneficial to
Searchgold's diamond activities in West Africa and will contribute to the
company's objectives to develop the Mandala project into a profitable
mining operation.