BISSETT, MB -- (MARKET WIRE) -- 06/18/04 -- Mr. Dale Ginn, President of San Gold Resources Corporation (TSX-V: SGR) is pleased to announce the appointment of Mr. Richard Boulay as Director, effective immediately. Mr. Boulay is an exploration geologist and holds a Bachelor of Science degree from Carleton University. Mr. Boulay's 35 year career in the mining industry includes extensive exploration work in North America and Latin America. He has considerable experience in public company management and has served as a mining analyst, broker and banker. His history includes 12 years of banking experience with the Bank of Montreal, The Royal Bank of Canada and the Bank of Tokyo where he specialized in the financing of many international mining projects, hydroelectric projects, nuclear reactors and offshore drill platforms. Mr. Boulay is currently President of Marum Resources Inc., a company that holds a strategic land position in the Rice Lake Gold Belt, including a property immediately adjacent to the Rice Lake Gold Mine at Bissett, Manitoba. Mr. Boulay's addition to the Board of Directors further strengthens the Company's ability to secure sufficient development capital for the ambitious San Gold surface exploration programs and for the reactivation of the Rice Lake Gold Mine and mill complex.
"Where else in the world can you find a grossly under-explored gold mine property with 600,000 ounces of audited resources, with $120 million of mint-condition surface and underground assets, including a 1,250 ton per day gold mill, located at a town site that is less than three hours by road from an international airport and a major industrial center," ...commented Mr. Boulay at a recent bank project financing presentation. In response to questions about the exploration potential of the Rice Lake area he commented further that, "....The Rice Lake Greenstone Belt is now fully staked. The arrival of Placer Dome with their ambitious drill program, together with the intense activities of junior companies, is sure to attract the attention of more big exploration gorillas into the belt. It is exciting to be an explorer in the Rice Lake Belt and an honor to be part of the San Gold vision to grow the current mine accessible gold reserves from 600,000 ounces to over 1.2 million ounces by the end of this year."
