Press Release Source: San Gold Corporation On Monday October 4, 2010, 8:00 am

BISSETT, MB--(Marketwire - 10/04/10) - San Gold Corporation (TSX-V:SGR - News) is pleased to announce that it has filed an amended National Instrument 43-101 compliant technical report dated October 1, 2010 regarding its Rice Lake project area that includes the Rice Lake, Hinge and SG 1 mines as well as the 007, Cartwright, SG 2, SG 3 and Cohiba zones. The technical report was amended in order to add and include disclosure regarding mineral reserves, while mineral resources remain unchanged except to correct a minor addition error in the Rice Lake Mine indicated resources category.

The following table, from a technical report dated October 1, 2010 with an effective date of June 30, 2010, summarizes the mineral resources and mineral reserves for the Rice Lake Project. The table of mineral resources presented below is nearly identical to the information presented in San Gold's technical report that was press released on September 3, 2010.

SUMMARY OF RICE LAKE PROJECT RESOURCES (at June 30, 2010)

Tons Grade Contained

oz./ton (g/tonne) Ounces

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Rice Lake Mine

Measured Mineral Resources 388,200 0.24 (8.2) 91,175

Indicated Mineral Resources 642,240 0.25 (8.6) 163,090

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Total Measured and Indicated

Resources 1,030,440 0.25 (8.6) 254,265

Inferred Mineral Resources 1,519,750 0.29 (9.9) 439,090

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Hinge Mine

Measured Mineral Resources 91,790 0.29 (9.9) 26,510

Indicated Mineral Resources 425,670 0.40 (13.7) 171,190

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Total Measured and Indicated

Resources 517,460 0.38 (13.0) 197,700

Inferred Mineral Resources 1,375,200 0.39 (13.4) 538,700

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SG1 Mine

Indicated Mineral Resources 214,200 0.24 (8.2) 52,150

Inferred Mineral Resources 936,500 0.22 (7.5) 206,900

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007 Zone

Indicated Mineral Resources 305,240 0.75 (25.7) 230,330

Inferred Mineral Resources 398,200 0.47 (16.1) 186,980

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Cohiba Zone

Indicated Mineral Resources 55,970 0.23 (7.9) 12,675

Inferred Mineral Resources 25,210 0.16 (5.5) 4,050

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Cartwright Zone

Indicated Mineral Resources 136,200 0.22 (7.5) 29,830

Inferred Mineral Resources 1,761,200 0.21 (7.2) 388,940

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SG-2 and SG-3 Zones

Indicated Mineral Resources 173,100 0.20 (6.8) 35,320

Inferred Mineral Resources 195,600 0.26 (8.9) 50,210

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Rice Lake Project

Total Measured plus Indicated 2,432,610 0.33 (11.3) 812,270

Total Inferred Resources 6,211,660 0.29 (9.9) 1,814,870

SUMMARY OF RICE LAKE PROJECT RESERVES (at June 30, 2010)

Tons Grade Contained

oz./ton (g/tonne) Ounces

-------------------------------------

Rice Lake Mine

Proven Mineral Reserves 414,000 0.22 (7.5) 91,175

Probable Mineral Reserves 753,320 0.22 (7.5) 163,090

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Total Proven and Probable Reserves 1,166,320 0.22 (7.5) 254,265

Hinge Mine

Proven Mineral Reserves 114,740 0.23 (7.9) 26,510

Probable Mineral Reserves 532,085 0.32 (11.0) 171,190

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Total Proven and Probable Reserves 646,825 0.31 (10.6) 197,700

SG1 Mine (currently on care and

maintenance status)

Probable Mineral Reserves 180,150 0.26 (8.9) 47,110

007 Zone

Probable Mineral Reserves 381,550 0.60 (20.7) 225,545

Cohiba Zone

Probable Mineral Reserves 69,960 0.18 (6.2) 12,675

Cartwright Zone

Probable Mineral Reserves 170,250 0.18 (6.2) 29,830

Rice Lake Project

Total Proven and Probable Reserves 2,615,055 0.29 (9.9) 767,125

The key assumptions used by the Author for conversion of measured and indicated resources to proven and probable reserves are:

1. Resource tonnage factor 11.4 cubic feet per ton (equivalent to an

average specific gravity of 2.8)

2. Minimum mining width 5 feet horizontal.

3. Mill Call Factor 95%

4. Mill Gold Recovery 93%

5. Gold price US$1200, Canadian$1260 at 1.05 exchange rate.

6. External cut-off grade of 0.13 ounces per ton.

7. Internal cut-off grade 0.10 ounces per ton.

A full copy of the technical report will be made available on the Corporation's website and has been filed on SEDAR.