SearchGold Provides Update on Swala and Burkina Faso

SearchGold Resources Inc. ("SearchGold" or the "Company")(TSX
VENTURE:RSG)(FRANKFURT:S1O) is pleased to provide an update on Swala Resources
plc. ("Swala") and its Burkina Faso operations in West Africa. 


Finance and listing of Swala

Swala's application to the TSX Venture Exchange remains scheduled for September
or October of 2011. 


Mr. John Turner and Mr. Peter Jones have accepted to join Swala's Board of
Directors. They both bring a wealth of experience to Swala; John Turner being
the Leader of Fasken Martineau's Global Mining Group while Peter Jones has
served as President and CEO of Hudson Bay Mining and Smelting, President and COO
of Inco, and until recently, CEO of Iamgold. 


Swala has retained the services of Dundee Securities to lead their planned
Initial Public Offering ("IPO") in Canada while Haywood Securities and Jennings
Capital have been selected to join the syndicate for the IPO offering.


Arae-Gassel project / Burkina Faso

The money raised by Swala in early 2011 was immediately put to use on the
Arae-Gassel project in Burkina Faso.


Airborne magnetic surveys were completed (see attached figure:
http://media3.marketwire.com/docs/sg0623.pdf or visit: http://www.searchgold.ca)
and Swala is now well into a 15,000 metre drilling program which is due to end
in mid July, the purpose of which is to investigate new areas of mineralization.
Swala's focus at this stage is not to delineate a resource yet but rather ensure
that proper targeting and prioritising is achieved.


A specialist structural geologist has completed the fieldwork and numerous
trenches were excavated to facilitate structural measurements and geological
mapping. These data are now being integrated with the geophysical interpretation
and the final report on this work is expected at the end of June.


The "pit loam" geochemical sampling programme has been completed over most of
the 400 km2 Arae-Gassel property surface area, notably covering significant
ground previously unsampled by past operators. All of the samples have been
submitted to the ALS laboratory in Ouagadougou. The mining rush to Burkina Faso
has been significant, and the demand on drilling rigs and laboratory much
greater than normal. As a result sample analysis backlogs at this laboratory are
about one month and the last sample results are expected before the end of June.
The "auger" geochemical sampling programme has been rescheduled to take place in
September this year after the rainy season.


A RAB drilling programme of 15,000 metres is in progress. The purpose of this
programme is to test four new anomalous areas where limited previous work and
artisanal digging indicate gold mineralization of significance. These anomalies
indicate new and potentially important mineralization up to 10 kms west of the
principal primary target ("Kerboule-Yalema") that was identified by previous
operators and on which most of the work has been done to date. The first of
these, "Ariel", has been completed and the drill is now in operation on the
"Gassel-Haissa" target. These samples are also being consigned to the ALS
laboratory in batches and the first results should be available mid-July.


About Swala Resources plc

Swala Resources plc. is a private African explorer with a focus on Burkina Faso
where Swala owns 100% of the Arae-Gassel project directly adjoining Avocet's
2.12 million ounce Inata gold deposit(i). In Zimbabwe, Swala has a joint venture
with other parties for the exploitation of high-grade alluvial deposits that
have been identified as a consequence of Swala's proprietary GIS program to
identify and rank high potential deposits using an extensive database for its
source production. In addition, the Company owns a carried joint venture
interest in an exploration project with AngloGold Ashanti that is located in
Gabon. Swala also owns 7,500 km(2) of exploration licences in the Democratic
Republic of the Congo for PGM, Nickel and base metals. 


(i)NI 43-101 compliant total resources of 41,847,000 tonnes @ 1.57 g/t Au at 0.7
g/t Au cut off


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 a series of
successive innovative 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. As a result, SearchGold now has investments in
three mining companies and one near-term production gold project :


- Bakoudou Zone A, Gabon / Managem : 0.75% NSR

- Swala Resources plc : 4.5 million shares, (see: www.swalaresources.com)

- Stellar Diamonds plc : 1.7 million shares (see : www.stellar-diamonds.com)

- Golden Share Mining Corporation : 2.1 million shares (see: www.goldenshare.ca)

Philippe Giaro, P. Geo., President and CEO of SearchGold Resources Inc. and
Qualified Person for SearchGold, has reviewed and approved the content of this
release. 


FOR FURTHER INFORMATION PLEASE VISIT http://www.searchgold.ca
Searchgold Resources Inc. (TSXV:RSG)
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