ARAE-GASSEL

SearchGold Resources announced a transaction with Swala Resources on the Arae-Gassel Gold Property located in northern Burkina Faso, West Africa. Under the terms of the agreement, Swala will purchase the remaining 60% interest in Arae- Gassel for 4,572,806 common shares of Swala, or 10% of its issued and outstanding capital at the time of the transaction.

SearchGold Resources announced the results of its recent RC drilling program at the Arae-Gassel property located in northern Burkina Faso. A total of 48 RC holes with individual depths of 50 m and totalling 2,400 m were drilled on the Kerboulé South target. The best intercept was found in Hole G09004 with 1.69g/t gold over 50m from the surface.

SearchGold Resources announced the JV agreement with Swala Resources PLC on the Arae-Gassel Gold Property, Burkina Faso, was modified and dated December 6th 2009. The agreement now provides for Swala Resources to earn-in its initial 40% interest in the project by incurring US$750,000 in exploration expenditures. The JV was revised to fast track the exploration program. To date, 242 km of lines have been surveyed by ground geophysics, 1,600 termite mound and rock samples have been collected, 6 targets have been mapped and a diamond drill program has commenced.