San Gold drills 56.7 g/t
Au over 4.0 m on Hinge No. 4
San Gold Corp SGR.V
Wednesday May 28 2008 - News Release
Mr. Dale Ginn reports
HIGH GRADE RESULTS CONTINUE
FROM HINGE #4 ZONE NEAR SURFACE
San Gold Corp. has received
assay results for drill holes No. GS-08-29 and No. GS-08-31 in the new
high-grade Hinge No. 4 zone. Hole No. 29 intersected 56.7 grams per tonne (g/t)
(1.66 ounces per ton) over 4.0 metres (13.2 feet), as well as 42.5 g/t (1.24 ounces
per ton) over 1.8 metres (6.0 feet) at 61 metres (200 feet) below surface.
Holes No. 29 and No. 31
were drilled along the same section line (500E) and above previously announced
(see the company's news release in Stockwatch on May 21, 2008) hole No. 33,
which intersected 85.1 g/t (2.49 ounces per ton) over 6.3 metres (20.7 feet).
RESULTS DEMONSTRATING THE DISTRIBUTION OF THE HIGH GRADES THROUGHOUT THE FIRST INTERSECTION IN HOLE NO. 29
Hole # From To Length Gold g/tonne (oz/ton) Zone
GS-08-29 98.6 m 102.6 m 4.0 m (13.2 ft) 56.7 (1.66) visible gold Hinge #4
And 105.5 m 107.3 m 1.8 m (6.0 ft) 42.5 (1.24) visible gold Hinge #4
GS-08-31 99.0 m 104.4 m 5.4 m (17.6 ft) 21.2 (0.62) visible gold Hinge #4
And 110.7 m 112.3 m 1.6 m (5.1 ft) 47.6 (1.39) visible gold Hinge #4
DISTRIBUTION OF GRADE WITHIN THE FIRST ZONE OF HOLE # GS-08-29:
From To Length Gold Assay g/tonne (oz/ton)
98.6 m 98.9 m 0.3 m 5.5 (0.16)
98.9 m 99.4 m 0.5 m 17.1 (0.50)
99.4 m 100.0 m 0.6 m 75.3 (2.20)
100.0 m 101.0 m 1.0 m 133.6 (3.90)
101.0 m 102.2 m 1.2 m 23.2 (0.68)
102.2 m 102.6 m 0.4 m 23.3 (0.68)
The intersection angles
between the drill holes #29, #31 and #33 on section 500E and the Hinge #4 zone
are between 80 degrees and 90 degrees resulting in drilled widths which are
very close to the true width of the zone. Assays are pending from the
intersections of the same zone on section line 400E (3 holes: GS- 08-23, 25 and
27) and will be reported as received by the company. This zone remains open
along strike to the north-east and to the south-west as well as at depth.
Please see press releases
dated January 15, February 19, April 21 and May 21, 2008 for previously posted
results of the Hinge zones as discovered to date. The new zones are roughly
parallel, dip to the north-west and are made up of quartz and carbonate veins
containing gold mineralization. The volcanic units which contain the new veins
are located in a sequence of rocks which lie approximately 1500 meters into the
hanging wall stratigraphically above and geographically to the north of the
mineralized mine unit of the Rice Lake Gold Mine. To date a total of at least 4
sub parallel new veins have been discovered in the Hinge area, as well as
numerous uncorrelated breccia zones within 100 to 300 meters of surface. Two
diamond drills are currently drilling in the Hinge area. The new zones are located
approximately 1.5 kms to the north-east of San Gold's operating Rice Lake and
mine and mill, and are fully accessible by road.
Please see the San Gold
website (www.sangoldcorp.com) for prior Hinge Zone press releases, a plan view
location map and a longitudinal section showing the location of the
intersections in the Hinge #4 zone.
This program was carried
out under the supervision of W.S. Ferreira, 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.
� 2008 Canjex Publishing
Ltd.
San Gold
Corporation
Investor Information
1-800-321-8564
www.sangoldcorp.com
info@sangoldcorp.com
.