MONTREAL, QUEBEC--(CCNMatthews - Jun 15, 2004) - SearchGold Resources Inc. is proud to inform its shareholders that Natural Diamond Corp of Antwerp, the company's consultant and marketing agent released the results of the evaluation of a diamond parcel delivered 2004-05-20. 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 $US per carat which is consistent with previous announcements for recovered diamonds of the Mandala III deposit. A sub-lot consisting of 433 carats of gem quality diamonds including 92 diamonds weighing over 1.0 carat, averaged a very significant price of 196.20 $US per carat. In the gem category, 34% by weight of the recovered diamonds, weighed 1.0 carat and over. A picture of those diamonds can be seen on the following web link: www.searchgold.ca/mandala-an.htm
SearchGold's management is also very please to announce the appointment of Mr. Peter Walker as geological consultant and Qualified Person, to overlook all related diamond activities of the company.
Mr. Peter 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" (Pr.Sci.Nat.) 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.
We are 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.
About SearchGold Resources:
SearchGold Resources is a Canadian based mining exploration company whose primary mission is to target, explore and develop diamond and gold deposits in Africa. In addition, SearchGold is active in Northern Quebec where its property portfolio includes precious metals, base metals and diamond exploration. SearchGold's project strategy maximizes its experience and resources and supports the company's commitment to strengthen shareholder value. Discover more about SearchGold Resources by visiting www.searchgold.ca
Shares issued: 45,777,962
FOR FURTHER INFORMATION PLEASE CONTACT:
SearchGold Resources Inc. Maurice Giroux President (514) 866-4224 (514) 866-2626 (FAX) info@searchgold.ca http://www.searchgold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
