San Gold extends Rice Lake strike length

San Gold Corp (C:SGR)
Shares Issued 137,624,220
Last Close 3/21/2007 $1.15
Thursday March 22 2007 - News Release

Mr. Dale Ginn reports

SAN GOLD HIGH GRADE DEVELOPMENT UPDATE

San Gold Corp. is releasing an updated mining development report within the high-grade 93 and 98 veins on the 28th level (4,200 feet) and 29th level (4,350 feet) of the Rice Lake gold mine. The strike length of the 93 vein on the 28th level is especially encouraging and has now been extended to over 400 feet (122 metres), with an average face grade of 1.26 ounces per ton (43.2 grams per tonne) over an average true width of 3.3 feet (one metre). It is anticipated that an additional 200 feet (61 metres) remains to be developed to the north and this vein remains open in an upward direction. Details on the three primary high-grade development areas are contained below.

28th level, 93 vein:

• over 400 feet (122 metres) of horizontal development completed;
• average face grade of 1.26 ounces per ton (43.2 grams per tonne) over an average true width of 3.3 feet (one metre);
• 58 faces were sampled and 232 samples were assayed; and
• sample values ranged from 0.09 ounce per ton (3.1 grams per tonne) to 8.07 ounces per ton (276.4 grams per tonne).

29th level, 98 vein:

• over 300 feet (91 metres) of horizontal development completed, 420 feet (128 metres) of raise development completed to date;
• average face grade of 1.1 ounces per ton (37.7 grams per tonne) over an average true width of 4.5 feet (1.37 metres);
• 146 faces were sampled and 440 samples were assayed; and
• sample values ranged from 0.1 ounce per ton (3.4 grams per tonne) to 7.99 ounces per ton (273.6 grams per tonne).

29th level, 93 vein:

• over 200 feet (61 metres) of horizontal development completed;
• average face grade of 1.33 ounces per ton (45.6 grams per tonne) over an average true width of four feet (1.22 metres);
• 30 faces were sampled and 120 samples were assayed; and
• sample values ranged from 0.08 ounce per ton (2.7 grams per tonne) to 23.02 ounces per ton (788.4 grams per tonne).

San Gold continues to develop the 93 and 98 veins as highest priority with the waste-rock development following closely behind in order to access and extract these veins. These veins continue to be open in an upward direction and San Gold will continue to search for similar veins between the 24th and 29th levels of the Rice Lake mine.

The above programs were carried out under the supervision of W.S. Ferreira, MSc, PGeo, and D. Ginn, PGeo, the qualified persons for San Gold under National Instrument 43-101. Chip, muck and mill samples are assayed on site in the company's assay lab using the fire assay method with an AA and gravimetric finish. San Gold's quality control and assurance program includes the insertion of blanks and standards, the retention of pulps and rejects, and spot checks using independent labs including TSL Laboratories in Saskatoon, Sask., and Accurassay Laboratories of Thunder Bay, Ont.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.