San Gold Appoints Two New Directors and Vice-President, Corporate Development

July 4, 2011

BISSETT, MB, July 4, 2011 /PRNewswire/ – San Gold Corporation (TSX: SGR)
(OTCQX: SGRCF) (“San Gold” or the “Company”) is announcing the addition
of two independent directors, Stephen W. Harapiak and Michael Anderson,
to the Board of Directors. The Company is also announcing that Jeremy
Link has been appointed Vice-President, Corporate Development and the
results of its recent Annual and Special Meeting of Shareholders.

Mr. Harapiak is President and Chief Operating Officer of Victory Nickel,
a position he has held since March 2008. Previously, Mr. Harapiak
served in senior executive roles at major mining companies including
Hudson Bay Mining and Smelting, Noranda Inc., Denison Mines Limited,
and Potash Corporation of Saskatchewan. Mr. Harapiak has a Bachelor of
Science in Mechanical Engineering (B.Sc.) from the University of
Manitoba, is registered as a Professional Engineer (P.Eng.) in the
Province of Manitoba, and is also a past President of the Canadian
Institute of Mining, Metallurgy, and Petroleum (“CIM”).

Mr. Anderson was formerly a partner with the law firm of Gowlings LLP
and its predecessor, Smith Lyons, from 1985 until March 2011.
Previously, Mr. Anderson served in various positions with major
companies including John Labatt Limited, Swift Canadian Limited, and
Denison Mines Limited.

The appointments of Mr. Harapiak and Mr. Anderson follow the retirement
of Richard Boulay, Courtney Shearer, and James W. McCutcheon from the
Board of Directors. Commenting on the retirement of these directors,
Hugh Wynne, Director and Executive Chairman, stated “On behalf of the
Board, I would like to sincerely thank Rick, Courtney, and Jim for
their contributions over the years. San Gold would not be where it is
today without their dedication and leadership.”

The Company is also announcing that Jeremy Link has been appointed
Vice-President, Corporate Development and joins San Gold from Alamos
Gold Inc. Prior to Alamos, Mr. Link worked as a financial analyst at a
special situations hedge fund following the mining and oil & gas
sectors. During his career, Mr. Link has held a variety of engineering,
geology, mining, and finance consulting roles, including a period as a
sell-side equity research analyst covering the junior mining sector.
Mr. Link has a Bachelor of Geological Engineering (B.E.) degree from
the University of Saskatchewan, a Master of Civil Engineering (M.Eng.)
degree from the University of Calgary, and is registered as a
practicing Professional Engineer (P.Eng.) in the Province of Alberta.

Results of Annual and Special Meeting of Shareholders

The Company is reporting the voting results of its Annual and Special
Meeting of Shareholders.

    Matters voted on:                                              Outcome

    1. Election of the Board of Directors                          Approved

    2. Appointment of auditors and to authorize the Directors to   Approved
    fix their remuneration

    3. Approval of the Shareholder Rights Plan                     Approved

    4. Strongly consider the approval of Directors on an           Approved
    individual basis

About San Gold

San Gold is an established Canadian-based gold producer, explorer, and
developer that owns and operates the Hinge, 007, and Rice Lake mines
near Bissett, Manitoba. The Company employs over 400 people, has over
$45 million in cash and equivalents and is unhedged to the price of
gold. As of June 30, 2011, San Gold has 310,491,175 common shares
outstanding (320,861,811 shares fully diluted), which are traded on the
Toronto Stock Exchange under the symbol “SGR” and on the OTCQX under
the symbol “SGRCF”.

The TSX or the OTCQX have not reviewed and do not accept responsibility
for the adequacy or accuracy of this release.

SOURCE San Gold Corporation

Source: newswire

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