Republic Services Inc V.RSG

Inevitable 10 for 1 Consololidation

[2fast4you]

Jun 01, 2010 09:25 ET

SearchGold Proposes a Share Consolidation to its Shareholders

MONTREAL, QUEBEC--(Marketwire - June 1, 2010) - SearchGold Resources Inc. (« SearchGold ») (TSX VENTURE:RSG)(FRANKFURT:S1O) will seek shareholder approval at its Special meeting of shareholders to be held on June 23, 2010, to consolidate its common shares at a ratio of one (1) new share for each tranche of ten (10) outstanding common shares. In order to be effective, the consolidation resolution must be approved by at least two third of the shareholder votes cast at the Meeting and be accepted by the TSX Venture Exchange.

Management believes that having less shares outstanding will facilitate the future financings necessary to continue the development of the Company. SearchGold now has 148,530,171 common shares outstanding. If the consolidation is approved, the Company will have approximately 14,853,017 common shares outstanding. The Company will not change its name but would have a new stock symbol.

In addition, Mr. Denis Tremblay submitted his resignation as Vice president, Corporate Secretary and Director of SearchGold for personal reasons. The board of directors would like to thank Mr. Tremblay for his involvement and dedication over the past 14 years and wishes him well.

FOR FURTHER INFORMATION PLEASE VISIT https://www.searchgold.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact

SearchGold Resources Inc.
Philippe Giaro, President & CEO
011-32-473-52-30-29
[e-mail]