WINNIPEG, MANITOBA--(Marketwire - June 14, 2012) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced an updated mineral resource and mineral reserve estimate for the Company's 100% owned Rice Lake Project located in Bissett, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, as well as modern surface infrastructure, including a licensed tailings management facility and is connected to the Manitoba power grid system.

Highlights

--  93% increase in inferred mineral resources to 3.5 million ounces of
    gold. 
--  Drilled approximately 350,000 metres in 925 holes in 2011. 
--  To date, exploration costs have been approximately $26 per ounce of
    resource discovered. 
--  Current measured and indicated resources will allow mid-term production
    planning. 
--  Measured and indicated resources will be upgraded to proven and probable
    reserves as detailed mid-term to long-term mine plans are developed. 
--  Exploration success on Shoreline Basalt Unit continues. 
--  All deposits remain open along strike and at depth.

Mineral Resource and Mineral Reserve Summary, as of March 31, 2012