Mr. Dale Ginn, President, reports:
Upon review of the recent positive exploration data on the Cartwright/Gabrielle Zones, San Gold has altered the scope of the resource/reserve report currently being prepared by ACA Howe Ltd. The scope of this report will now include the feasibility of developing and operating these deposits in order to rapidly increase production levels to the current mill capacity which now stands at 1250 tons per day. San Gold is also investigating changes to the crushing circuit that would substantially increase the milling capacity beyond 1250 tons per day. The original scope of the report was to estimate mineral reserves and resources for the Cartwright/Gabrielle and San Gold #3 zones, as well as to upgrade the San Gold #1 resource using new underground data. The new feasibility/reserve-resource report is expected to be completed mid November.
It is San Gold's intention to become a mid-tier gold producer by the end of 2007 and is aggressively pursuing all exploration and development options to do so.
The Qualified Persons for this project under National Instrument 43-101 are W. S. Ferreira, M.Sc., P.Geo., and D. Ginn, P.Geo.
For further information contact Dale Ginn, President of San Gold Corporation, at (204) 794-5818 or visit www.sangoldcorp.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements based on assumptions and judgments of management of San Gold Corporation regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. San Gold Corporation disclaims any intention or obligation to revise or update such statements except as may be required by law.
San Gold Corporation