SGRCF San Gold Corporation (CE)

WINNIPEG, MANITOBA--(Marketwired - Jun 10, 2014) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) announced today that Greg Gibson has been appointed CEO. Gestur Kristjansson will continue in his current role as President.

As Chair of the Board's technical review committee, Mr. Gibson is playing a central role in San Gold's turnaround process at the Company's Rice Lake Complex. As part of this process, the Company has implemented a number of operational changes which have resulted in significantly improved grades and mill recoveries. The Company has also transitioned its workforce to reflect changes in its mine plan and increased efficiency through improved supply chain management.

"We have made tremendous progress since March. Our new mine plan has been in place for more than a month now and we are already seeing the benefits of the strict controls that have been implemented. As CEO, I look forward to taking a more active role operationally as we continue to transform the Rice Lake Complex into a profitable producer," said Mr. Gibson.

"We are very fortunate to have Greg join the Company on a full time basis. We have already benefitted from the depth of his experience in his role as a director and I look forward to working closely together as we implement the new plan that has been developed during this transition period," said Mr. Kristjansson.

Mr. Gibson has more than 30 years of mining industry experience in Canada, the USA and Australia. He was President and CEO of Trelawney Mining and Exploration during the discovery and advancement of the Cote Lake South gold deposit near Timmins, Ontario and the subsequent acquisition of the company by IAMGOLD Corporation in June 2012.

Mr. Gibson is most recently President and CEO of Kerr Mines, Chairman of Temex Resources Corp., a director of Mag Copper Ltd. and a director of SGX Resources. He previously held the position of President and CEO of Northern Gold, which raised $28 million since mid-2012 during tight market conditions. During his career, Mr. Gibson was mine manager at Yilgarn Star Gold Mine in Australia, Copper Mines of Tasmania and the Chester Gold Project in Timmins, Ontario. He has been a contract manager, foreman and miner at various contractor mining companies including JS Redpath and Dynatec Mining Ltd.

About San Gold

San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Rice Lake Mining Complex near Bissett, Manitoba. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".

For further information on San Gold, please visit www.sangold.ca.

Cautionary Note

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

San Gold CorporationGreg GibsonChief Executive OfficerToll Free: 1 (855) 585-4653San Gold CorporationTim FriesenInvestor RelationsToll Free: 1 (855) 585-4653San Gold CorporationGestur KristjanssonPresidentToll Free: 1 (855) 585-4653sgr@sangold.cawww.sangold.ca

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