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Phase 1 Drill Program Review at Rice Lake Deep Outlines Massive Mineralized Area - August 14, 2007

Hole # From To Length Gold g/tonne (oz/ton) Vein / Zone

473-06-01 50.9 m 52.7 m 1.8 m (5.9 ft) 9.9 (0.29) New

and 73.2 m 75.8 m 2.6 m (8.5 ft) 10.7 (0.31) New

and 171.1 m 174.8 m 3.7 m (12.1 ft) 12.8 (0.37) 96

473-06-02 52.9 m 54.6 m 2.1 m (6.9 ft) 5.2 (0.15) New

and 62.4 m 65.7 m 3.3 m (10.8 ft) 5.5 (0.16) 96

473-06-03 39.6 m 43.0 m 3.4 m (11.2 ft) 7.6 (0.22) A

and 48.5 m 50.0 m 1.5 m (4.9 ft) 11.4 (0.33) A

and 144.4 m 148.5 m 4.1 m (13.5 ft) 7.3 (0.21) 96

473-06-04 22.8 m 30.6 m 7.8 m (25.6 ft) 21.6 (0.63) A

473-06-05 8.9 m 9.9 m 1.0 m (3.3 ft) 20.6 (0.60) C

473-06-06 5.3 m 7.2 m 1.9 m (6.2 ft) 14.1 (0.41) C

473-06-07 6.4 m 8.2 m 1.8 m (5.9 ft) 9.3 (0.27) C

473-06-08 6.4 m 9.0 m 2.6 m (8.5 ft) 5.5 (0.16) C

473-06-09 7.6 m 9.5 m 1.9 m (6.2 ft) 15.8 (0.46) C

473-06-10 60.6 m 64.8 m 4.2 m (13.8 ft) 8.6 (0.25) A

and 84.2 m 86.9 m 2.7 m (8.9 ft) 11.0 (0.32) 96

473-06-12 12.0 m 13.6 m 1.6 m (5.3 ft) 24.7 (0.72) A

473-06-13 40.2 m 42.3 m 2.1 m (6.9 ft) 13.7 (0.40) A

473-06-14 28.3 m 31.9 m 3.6 m (11.8 ft) 11.7 (0.34) New

and 41.7 m 45.4 m 3.7 m (12.2 ft) 6.5 (0.19) New

473-06-15 21.5 m 25.3 m 3.8 m (12.5 ft) 11.3 (0.33) New

473-06-16 76.9 m 78.0 m 1.1 m (3.6 ft) 13.4 (0.39) New

and 98.4 m 105.3 m 6.9 m (22.6 ft) 11.7 (0.34) New

473-06-17 16.6 m 19.6 m 3.0 m (9.8 ft) 5.1 (0.15) New

and 23.3 m 27.4 m 4.1m (13.5 ft) 10.0 (0.29) New

and 31.0 m 32.3 m 1.3m (4.3 ft) 10.0 (0.29) New

and 35.1 m 39.0 m 3.9m (12.8 ft) 6.9 (0.20) New

473-06-18 28.6 m 31.0 m 2.4m (8.0 ft) 24.0 (0.70) A

and 37.9 m 42.1 m 4.2m (13.8 ft) 11.3 (0.33) A

including 41.4 m 41.7 m 0.3m (1.0 ft) 125.4 (3.66) A

and 63.0 m 67.1 m 4.1m (13.5 ft) 7.6 (0.22) 96

and 68.2 m 72.9 m 4.7m (15.5 ft) 13.7 (0.40) 96

473-06-19 16.4 m 17.2 m 0.8 m (2.6 ft) 20.6 (0.60) A

473-06-20A 20.3 m 22.3 m 2.0 m (6.6 ft) 14.7 (0.43) C

473-06-20B 15.4 m 18.8 m 3.4 m (11.2 ft) 8.6 (0.25) C

473-06-21 16.2 m 18.8 m 2.6 m (8.6 ft) 29.1 (0.85) A

including 18.1 m 18.8 m 0.7 m (2.3 ft) 90.1 (2.63) A

473-06-23B 38.1 m 42.7 m 4.6 m (15.1 ft) 5.8 (0.17) A

473-06-24 12.1 m 18.0 m 5.9 m (19.4 ft) 6.9 (0.20) A

and 28.1 m 34.3 m 6.2m (20.3 ft) 5.1 (0.15) A

and 37.3 m 40.4 m 3.1m (10.2 ft) 6.2 (0.18) A

and 49.8 m 52.7 m 2.9m (9.5 ft) 11.4 (0.33) 96

473-06-25 15.0 m 45.3 m 30.3 m (99.4 ft) 12.4 (0.36) A

and 58.0 m 60.1 m 2.1 m (6.9 ft) 12.0 (0.35) 96

473-06-26 72.0 m 78.8 m 6.8 m (22.3 ft) 50.1 (1.46) 96

473-07-27 128.3 m 133.0 m 4.6 m (15.2 ft) 18.0 (0.53) 96

within 127.1 m 133.6 m 6.5 m (21.4 ft) 14.6 (0.43) 96

and 50.0 m 51.8 m 1.8m (5.9 ft) 14.8 (0.43) A

and 68.5 m 78.2 m 9.7m (32.0 ft) 5.8 (0.17) New

and 100.3 m 102.7 m 2.4m (8.0 ft) 5.9 (0.17) New

and 105.0 m 109.9 m 4.9m (16.1 ft) 11.2 (0.33) New

and 116.1 m 118.2 m 2.1m (6.9 ft) 10.1 (0.30) New

HM-06-01 89.9 m 95.9 m 6.0 m (19.7 ft) 17.8 (0.52) C

HM-06-02 101.3 m 104.1 m 2.8 m (9.2 ft) 17.9 (0.52) C

HM-06-03 3.0 m 8.5 m 5.5 m (18.0 ft) 12.2 (0.36) A

HM-06-04 40.4 m 46.8 m 6.4 m (21.0 ft) 8.6 (0.25) A

and 84.6 m 89.6 m 5.0 m (16.4 ft) 14.8 (0.43) 96

HM-06-05 63.7 m 72.9 m 9.2 m (30.2 ft) 6.0 (0.18) 96

473-06-110 44.8 m 48.2 m 3.4 m (11.1 ft) 5.0 (0.15) New

And 55.2 m 66.0 m 10.8 m (35.4 ft) 7.2 (0.21) A

And 81.9 m 86.9 m 5.0 m (16.4 ft) 8.3 (0.24) 96

473-06-113 35.6 m 44.1 m 8.5 m (27.9 ft) 7.6 (0.22) A

During the phase 1 program, 33 holes were completed with 63 gold intersections of significant value recorded. Drilling targeted the down dip/plunge area of the main vein sets that were mined by the previous operators of the mine during the years 1999 to 2001 and 1932 to 1968. This area has rough dimensions of 700 feet by 400 feet within the host diabase or SAM unit and contains the most prominent vein sets named the “96”, “A”, “C” as well as others. Phase 1 drilling intersected these veins up to 500 feet below the 4730 Level, the lowest of the developed levels of the mine. All of the above listed veins remain open at depth where subsequent phases of drilling will continue to define and extend from the currently advancing decline access.

The 96 vein has a strike length of 600 to 700 feet, is tabular in nature and has an average dip of 70 degrees. Phase 1 drilling returned 13 intersections with widths of 9 feet to 30 feet and grades that varied from a low of 0.16 oz/ton to 1.46 oz/ton.

The C vein is located 400 feet east of the 96 vein which is parallel and has similar characteristics. The strike length is 400 to 500 feet and the dip averages 65 degrees. Phase 1 drilling returned 9 intersections with widths of 3 feet to 20 feet and grades that ranged from a low of 0.16 oz/ton to 0.60 oz/ton.

Of great significance is the number and size of new veins discovered during this phase of drilling. 17 intersections were classified as new discoveries with widths that varied between 4 feet and 32 feet and grades that ranged from 0.15 oz/ton and 0.39 oz/ton. The majority of these intersections are located between the 96 and the C vein and are interpreted to be stockwork veins that are parallel to and similar to the A vein. The tonnage factor for Rice Lake mine veining is 11.5 cubic feet per ton (ACA Howe, 2007).

Please see the San Gold website (www.sangoldcorp.com) for plan and section diagrams relevant to the areas drilled.

This program was carried out under the supervision of D. 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 metallics were performed on selected samples. 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.

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

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