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| December 1, 2011 |
| San Gold Extends L10 Zone to Depth |
| WINNIPEG, MANITOBA--(Marketwire - Dec. 1, 2011) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced the results of drilling conducted between January and October 2011 in and around the L10 Zone of the company's Rice Lake Mining Complex in Manitoba, Canada. The L10 zone continues to demonstrate robust widths and grades as highlighted by drill hole #H955-11-114, intersecting 27.0 g/tonne over 5.0 metres at a depth of 416 metres and drill hole #H933-11-018, intersecting 115 g/tonne over 1.0 metre. These results have expanded the area of known mineralization associated with the L10 zone to more than 1,000 m (3,300 ft) below surface, which is roughly equivalent to the depth of the 18 Level in the nearby Rice Lake Mine. The drilling program has also extended the strike length of the zone to more than 230 m (750 feet). As well, deeper drilling is demonstrating that these healthy widths and grades continue further to depth, as highlighted by drill hole #DX-11-009 intersecting 22.9 g/tonne over 5.4 metres at 569 metres below surface and by drill hole #DX-11-015 intersecting 7.1 g/tonne over 1.6 m at more than one kilometre below surface. Numerous other significant intersections were also obtained outside of the projected limits of the L10 zone, representing potential new zones or extensions as presented in the plan view of the 16 Level of the Rice Lake Mine. This level is currently being utilized as a drill exploration platform but will also become an access and extraction level for the L10 area in 2012. "This drilling supports our belief in the vast potential of the Bissett greenstone belt. It demonstrates robust grades located deep below the surface, accessible from existing infrastructure in the nearby Rice Lake Mine, and continues to confirm the geologic model that has been so successful for finding new gold deposits," said George Pirie, San Gold's President and Chief Executive Officer. The drilling results released today cover 93 intercepts over 64 drill holes within the L10 mineralized envelop and projections of the zone to depth. A full listing of the drill holes carried out in the L10 Zone can be found in Table 1 of this release. Figures 1 to 5, which illustrate the location of drill holes and intercepts, can be found on the company web site (www.sangold.ca) and on SEDAR (www.sedar.com). 2011 Exploration Program This drilling was carried out as part of San Gold's 2011 drill program. As of the end of October, the company had completed 300,000 metres of drilling within the Rice Lake Mining Complex. The Company's near-surface exploration activities in 2011 have focused on both exploration and definition drilling along the 007 Zone and within the L10, L13, SG-1 and Cohiba zones. Deep drilling has focused on extensions of the L10 and 007 zones, both from surface and from drilling stations on 16 Level and 26 Level in the Rice Lake Mine. Drilling within the Rice Lake Mine has focused primarily on definition drilling on 26, 28 and 31 Levels. This program was carried out under the supervision of Dale Ginn, P.Geo., the Qualified Person for this project under National Instrument 43-101. The drill core was split, with half sent to TSL Laboratories in Saskatoon, SK and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Check assays were also performed on pulps and rejects by both TSL and by Accurassay Laboratories of Thunder Bay, ON. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones. About San Gold San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF". For further information on San Gold, please visit www.sangold.ca. |
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