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Standard & Poor's Initiates Factual Stock Report Coverage on San Gold Corporation

Posted on: Tuesday, 22 January 2008, 12:00 CST

Standard & Poor's announced today that it has commenced Factual Stock Report coverage on San Gold Corporation.

San Gold Corporation (TSXV: SGR; OTCPK: SGRCF) is a Canadian mining company focused on gold exploration and mining in the Rice Lake Greenstone Belt in southeastern Manitoba, Canada. The company's Rice Lake Gold Project includes two mines, the deep underground, high-grade Rice Lake Mine and the nearby near-surface ramp accessed San Gold #1 (SG-1) deposit.

San Gold's main operation consists of exploring for and producing gold primarily in the Bissett area of Manitoba, Canada. The main business of Rice Lake Gold Corporation, San Gold's wholly owned subsidiary, is the production of gold from underground ore reserves at the Rice Lake Mine in Bissett, Manitoba, and the exploration for new gold deposits in the Rice Lake gold belt.

On Nov. 30, 2007, San Gold announced that it had closed its private placement offering of units for aggregate gross proceeds of C$40,075,000. In the offering, San Gold issued 28,625,000 units of the company at C$1.40 per unit, including units issued upon the exercise of the underwriters over-allotment option. Each unit was comprised of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder thereof to purchase one common share at C$2.00 for a period of 18 months from the date of issuance. The net proceeds of the offering will be used for accelerating the development of deep high-grade gold zones in the Rice Lake Mine, the continued development of the San Gold #1 Mine as well as for general corporate purposes including working capital.

This report will also be accessible on an ongoing basis to the investment community ---- scores of buy-side institutions and sell-side firms that utilize S&P research and information platforms daily. Millions of self-directed investors also have access to the report via their e-brokerage accounts.

About Standard & Poor's Factual Stock Reports

This Standard & Poor's service provides factual research coverage enabling information about San Gold Corporation and other securities to reach a wide investor audience of Buy and Sell-side investors, helping them understand a company's fundamentals and business prospects. Currently profiling over 1,000 issuers, S&P Factual Stock Reports increase market awareness for issuers in the investment community with insightful commentary and key statistics/information. Updated weekly with the latest pricing, trading volume, and other data, the reports include recent developments, a financial review, key operating information, Industry and peer comparisons, institutional holdings analysis, Street Consensus and opinions, performance charts, business summary, fundamental data, and news. Because coverage of these reports is sponsored by the issuer, S&P does not offer investment opinions concerning the advisability of investing in these stocks.

Standard & Poor's Factual Stock Reports are produced separately from any other analytic activity of Standard & Poor's. Standard & Poor's Factual Report research has no access to non-public information received by other units of Standard & Poor's. Standard & Poor's does not trade on its own account.

Note: All U.S. and Canadian Companies listed on a National Exchange (not covered by S&P's STARS research) are eligible to obtain this coverage.

About Standard & Poor's

Standard & Poor's, a division of The McGraw-Hill Companies (NYSE: MHP), is the world's foremost provider of financial market intelligence, including independent credit ratings, indices, risk evaluation, investment research and data. With approximately 7,500 employees, including wholly owned affiliates, located in 21 countries, Standard & Poor's is an essential part of the world's financial infrastructure and has played a leading role for more than 140 years in providing investors with the independent benchmarks they need to feel more confident about their investment and financial decisions. For more information, visit http://www.standardandpoors.com.

Source: Business Wire

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