Hot Muck..like yourself, i still hold my $ 2. warrants and am confident they will be in the money by next May and i will margin them once on the TO exchange..My farm has been on the Green_BELT for the past three yrs, and i have just been takeing up more acerage from past gains. Hot Muck, how does " Gold Corp " get to have their name in this release. Thank you Traps.

June 8, 2004

Bissett, Manitoba

Dale Ginn, President of San Gold Resources Corporation (SGR TSX-V) and Fred Sveinson, President of

Gold City Industries Ltd. (GC TSX-V) are pleased to announce results from the remaining holes of the

Phase 1 drilling on the San Gold #1 Zone. Phase 1 drilling has intersected the deposit over a 425 meter

(1,400 feet) strike length to a depth of 200 meters (650 feet) to date, and remains open in all directions.

2004 Phase 1 Remaining Holes:

Hole #

Section

From To Length Gold g/tonne (oz/ton)

325E

27.5m 30.5m 3.1m (10ft) 5.8 (0.17)

300E

46.7m 49.1m 2.5m (8ft) 3.5 (0.10)

300E

130.2m 133.3m 3.1m (10ft) 5.8 (0.17)

050E

218.1m 219.9m 1.8m (6ft) 10.7 (0.31)

050E

234.5m 237.6m 3.1m (10ft) 5.8 (0.17)

263E

157.1m 165.6m 8.5m (28ft) 1.0 (0.03)

400E

151.6m 152.8m 1.2m (4ft) 4.5 (0.13)

475E

41.2m 42.4m 1.2m (4ft) 4.1 (0.12)

www.ricelakejv.com

.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents

herein.

San Gold Resources Corporation Gold City Industries Ltd.

Dale Ginn, President Fred Sveinson, President

(204) 794-5818 (604) 682-7677

A second phase of drilling is now underway, in order to prepare this deposit for a resource calculation,

with the goal of quickly achieving a 1.2 million ounce resource in combination with the existing 550,000

ounces (audited by ACA Howe - 2003) at the neighboring Rice Lake Gold Mine, located 3 kilometers

west by road.

Drilling will also extend the zone towards previously drilled hole (1998) #SN-98-20, the deepest

intersection on San Gold #1 zone at 400 meters (1300 feet) and section 000E. This hole intersected 24.4

meters (80 feet) of 4.8 g/tonne (0.14 oz/ton) including a 3.1m (10ft) section grading 14.4 g/tonne (0.42

oz/ton). The San Gold mineralization occurs on the eastern limb of a fold that hosts the Rice Lake Gold

Mine mineralization. It is anticipated that the gold mineralization at San Gold #1 will extend to a depth of

at least 1,800 metres (approx 5,500 feet) to correspond with the mined depth to date of the Rice Lake Gold

Mine on the opposite limb of the fold.

The drill core was split, with half sent to TSL Laboratories in Saskatoon, SK and fire assayed with an AA

and gravimetric finish. This program was carried out under the supervision of W. S. Ferreira, M.Sc.,

P.Geo., and D. Ginn, P.Geo., the Qualified Persons for this project under National Instrument 43-101.

Please view our web site at

SG-04-11

SG-04-10

SG-04-09

SG-04-08

SG-04-07

SG-04-06

SG-04-05

SG-04-04

Latest Drill Results Significantly Expand San Gold #1 Zone to Propel Rice Lake

Gold Corp. toward its 1.2 million ounce target.