San Gold Reports 2013 Q1 Production Results

WINNIPEG, MANITOBA--(Marketwired - April 16, 2013) - San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) today announced preliminary results of operations at its Rice Lake Mining Complex in Manitoba, Canada for the quarter ended March 31, 2013.

Q1 Production Highlights

   -  Gold production of 17,354 ounces.                                     
   -  Mill production of 156,013 tons.                                      
   -  Mine production of 143,859 tons.

First Quarter 2013 Preliminary Operating Results

San Gold produced 17,354 ounces of gold in the first quarter. The operation mined 143,859 tons of ore at an average daily rate of 1,598 tons per day and milled 156,013 tons in the quarter at an average daily throughput of 1,733 tons per day, similar rates to the first quarter of 2012. Mill recovery was 91.9% and milled grade was 4.15 grams per tonne.

"Following the recent restructuring, the Company is in the process of implementing reductions to its operating, capital, corporate overhead, and exploration costs as well as evaluating investments that do not directly contribute to the Company's core operations. Our focus will be to optimize margins per ounce and ensure we are on the most direct path to achieving free cash flows," said Ian Berzins, San Gold's President, CEO and Chief Operating Officer. "We anticipate grade will return to more normalized levels as the year progresses."

The Company expects to produce between 75,000 and 90,000 ounces of gold in 2013 with cash costs between $800 and $900.

The Company is also pleased to announce that it has received formal notice from the Manitoba government confirming the renewal of its mineral operating lease, ML-063, for a second 21-year term from April 1, 2013 to April 1, 2034.

About San Gold

San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba, approximately 235 kilometres northeast of Winnipeg, Manitoba, Canada. The Rice Lake Project has a permitted, modern gold mill currently processing ore at a capacity of 2,500 tons per day, modern surface infrastructure including a licensed tailings management facility, and is connected to the Manitoba power grid system. The Company employs approximately 450 people and is committed to the highest standards of safety and environmental stewardship. 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

This news release includes certain "forward-looking statements". All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding forecast gold production, gold grades, recoveries, cash operating costs, potential mineralization, mineral resources, mineral reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to mining and processing of mined ore, achieving projected recovery rates, anticipated production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable mineral reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.

There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations include, among others, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of precious metals, as well as those factors discussed in the section entitled "Other MD&A Requirements and Additional Disclosure and Risk Factors" in the Company's most recent quarterly Management's Analysis and Discussion ("MD&A"). Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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

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CONTACT INFORMATION:

San Gold Corporation
Ian Berzins
President and CEO, Chief Operating Officer
Toll Free: 1 (855) 585-4653

or

San Gold Corporation
Tim Friesen
Communications Director
Toll Free: 1 (855) 585-4653
info1@sangold.ca
www.sangold.ca

Ucore Rare Metals Releases 2011 Bokan Drill Results Pending Augmented Resource Calculation

HALIFAX, NOVA SCOTIA--(Marketwire - Jan. 23, 2012) - Ucore Rare Metals Inc. (TSX VENTURE:UCU)(OTCQX:UURAF) ("Ucore" or "the Company") is pleased to announce finalized assay results from the 2011 drill program at the Bokan-Dotson Ridge rare earth element (REE) project in southeast Alaska. The 2011 drill program produced a total of 10,112 metres of core from 34 diamond drill holes. The data will be used to upgrade the status of the existing National Instrument (NI) 43-101 compliant resources from Inferred to Indicated and to increase the size of the existing mineral resources at Dotson Ridge. Together with the previous Ucore drill programs from 2007 to 2010, the Company has now completed 134 drill holes in total, comprising 19,662 meters of core at the Bokan property.

A map showing the location of the drill holes reported in this press release can be accessed on the Company's website (http://ucore.com/2011drillholes).
The following table summarizes significant intersected values from 27 out of 34 holes completed in 2011.

2011 Assay Drill Core Results

Hole	Depth From(m)	Depth to(m)	Width (m)	LREO (wt.%)	HREO (wt.%)	TREO (wt.%)	HREO/TREO (%)
LM11-92	151.93	153.72	1.79	0.53	0.52	1.04	50
LM11-92	167.36	171.1	3.08	0.27	0.15	0.42	36
LM11-92	179.27	181.67	2.4	0.32	0.20	0.51	38
LM11-101	154.63	156.65	2.02	0.59	0.20	0.79	25
LM11-103	184.4	186.56	2.16	0.39	0.30	0.69	43
LM11-105	147.55	151.26	3.71	0.62	0.24	0.86	28
LM11-106	189.5	192	2.5	0.48	0.15	0.63	24
LM11-106	296.2	298.7	2.5	0.29	0.19	0.48	40
LM11-107	109.26	113.55	4.29	0.14	0.18	0.32	57
LM11-108	139.65	141.17	1.52	0.31	0.33	0.64	51
LM11-109	153.87	155.72	1.85	0.18	0.23	0.41	56
LM11-110	222.45	226.77	4.32	0.32	0.33	0.80	51
LM11-112	76.42	79.32	2.9	0.58	0.17	0.75	22
LM11-112	121.01	123.26	2.25	0.19	0.28	0.47	60
LM11-112	125.07	131	4.68	0.22	0.16	0.38	42
LM11-113	160.8	161.6	0.8	0.45	0.53	0.97	54
LM11-113	164.03	166.38	2.35	0.41	0.34	0.75	45
LM11-114	156.36	157.05	0.69	0.33	0.24	0.57	42
LM11-114	209.63	210.65	1.02	0.55	1.51	2.06	73
LM11-114	219.81	222.02	2.21	0.56	0.30	0.86	35
LM11-115	142.72	144.66	1.94	0.67	0.51	1.18	43
LM11-115	153.24	154.45	1.21	0.59	0.44	1.03	42
LM11-116	126.24	128.75	2.51	0.52	0.22	0.74	30
LM11-116	132.31	133.76	1.45	0.42	0.11	0.53	21
LM11-116	151.53	156.8	2.79	0.28	0.34	0.62	55
LM11-116	161	162.5	1.5	0.32	0.32	0.64	49
LM11-116	173.9	175.6	1.7	0.46	0.38	0.84	45
LM11-117	217.62	236.55	5.71	0.27	0.37	0.65	58
LM11-117	249.95	255.75	3.85	0.39	0.17	0.56	30
LM11-118	94.98	96.04	1.06	0.63	0.24	0.88	28
LM11-118	144.68	146.77	2.09	0.33	0.23	0.56	41
LM11-119	191.1	193.5	2.4	0.26	0.10	0.36	28
LM11-119	258.74	261.26	2.52	0.29	0.15	0.44	34
LM11-119	268.24	270.5	2.26	0.34	0.15	0.49	32
LM11-120	178	179.93	1.93	0.49	0.26	0.75	35
LM11-121	215.57	217.63	2.06	0.31	0.21	0.52	40
LM11-121	222.46	225.35	2.89	0.43	0.34	0.77	44
LM11-122	55.16	56.5	1.34	0.33	0.30	0.63	47
LM11-122	80.07	82.17	2.1	0.26	0.28	0.54	52
LM11-122	86.12	87.69	1.57	0.41	0.40	0.81	49
LM11-123	82.47	85.69	3.22	0.37	0.32	0.68	46
LM11-123	96.75	99.62	2.87	0.18	0.21	0.40	53
LM11-123	123.07	126.43	3.36	0.62	0.47	1.09	43
LM11-124	112.1	113.81	1.71	0.26	0.19	0.46	43
LM11-124	129.4	132.88	3.48	0.39	0.28	0.67	42
LM11-125	180.83	182.17	1.34	0.29	0.16	0.44	35
LM11-125	184.42	186.69	2.27	0.48	0.56	1.04	53
LM11-125	203.59	205.79	2.2	0.38	0.30	0.68	44
LM11-126	86.52	88.42	1.9	0.99	0.36	1.36	27
LM11-126	96.15	99.54	3.3	0.62	0.28	0.90	31
LM11-127	161.35	162.91	1.56	1.60	1.47	3.07	48
LM11-127	197.78	199.54	1.76	1.37	0.70	2.06	34
LM11-127	228.67	234.23	2.67	0.35	0.16	0.51	31
LM11-128	151.46	161.13	4.94	0.42	0.29	0.71	41
LM11-128	162.84	165.85	3.01	0.56	0.28	0.84	33
LM11-128	175.13	193.88	3.05	0.73	0.32	1.05	31
LM11-129	268.9	271.66	2.76	1.07	0.55	1.62	34
LM11-129	319.94	321.2	1.86	1.57	0.64	2.22	29

• LREO = Light rare earth elements: La, Ce, Pr, Nd, and Sm as oxide
• HREO = Heavy rare earth elements: Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu, and Y as oxide
• TREO = Total rare earth oxides: LREO + HREO
• Totals may not equal due to rounding
• Major contributing rare earth oxides to LREO and TREO: La2O3, Ce2O3, Nd2O3
• Major contributing rare earth oxides to HREO: Dy2O3, Gd2O3, Y2O3

"The completion and analysis of the 2011 drill program is another significant milestone for Ucore," said Jim McKenzie, President and CEO of the Company. "The 2011 drill program is remarkable for being the most ambitious to date, generating more linear metres of core during one season than in all of the previous drill seasons combined. The sheer size of the 2011 program clearly demonstrates that Ucore is rapidly increasing the scale and intensity of its development activities at Bokan. What's more, the rare earth grades obtained this year surpass all prior years, with several intercepts ranging from 2-3% TREO. The total core volume generated this year has been more than sufficient to upgrade the bulk of the existing resource from Inferred to Indicated under NI 43-101 guidelines, as the Company counts down to the release of a Preliminary Economic Assessment in the near future."

The 2011 exploration program confirmed the integrity and continuity of the Dotson Zone. The zone has a strike length of more than 2,000 metres, with an average width of 50 metres, and contains at least 24 high-grade mineralized veins or vein-arrays. The zone remains open both at depth and on strike. 2011 drill results show that there are multiple wide and high grade intersections within the steeper holes, indicating that the already high grade mineralization is apparently strengthening at depth. The results both reinforce and augment the historical U.S. Bureau of Mines resource estimate and geological model for the area (Warner & Barker; USBM OFR 33-89). The USBM model inferred persistent rare earth mineralization in the subject zone both along the strike and at the depth, in combination with anomalously high ratios of heavy to total rare earth elements.

In addition to standard diamond drilling, the 2011 field program included the generation of numerous bulk surface samples. These bulk samples are serving as input material for plant-scale metallurgical and innovative X-ray transmission ore sorting testwork being conducted at Hazen Research Inc. of Golden Colorado and Commodas Ultrasort of Hamburg Germany, respectively (see Ucore press release "Ucore XRT Testing Shows Prospective Doubling of Mill Feed Grade" Oct 31, 2011). The 2011 field program additionally included comprehensive environmental baseline testing, as well as desktop engineering studies, as a prelude to mine planning and development commencing in 2012. Beyond the central exploration targets at Dotson Ridge, Ucore exploration geologists conducted surface work at several Bokan-area REE occurrences in 2011, using prior USBM studies as a means of generating outbound targets.

NI 43-101 Compliance
The diamond drill core was split on site, with half the core transported by commercial carriers to the Activation Laboratories analytical facility in Stewart, B.C., Canada and analyzed at their labs in Ancaster, Ontario. Check assay samples were submitted to ALS Laboratories in Anchorage, Alaska, USA and analyzed at ALS Laboratories in Vancouver, B.C. Sample containers were sealed and chain of custody was maintained throughout the transport. The QA/QC program included the insertion of certified standards, blanks and duplicates in the submitted sample shipment; and laboratory insertion and analysis of standards and blanks, duplicates and re-splits. Analyses were made by inductively-coupled plasma mass spectrometry with lithium metaborate fusion, reporting whole rock analyses as an additional quality control measure. Reported values are length-weighted averages from multiple samples. All widths reported are core intercepts and do not reflect true width of the mineralized structure. Jim Robinson, P.Geo. (NWT), an independent geologist with Aurora Geosciences, has prepared the technical data relative to the drill assays provided herein and is the qualified person responsible for their accuracy.

Background
Ucore Rare Metals Inc. is a well-funded junior exploration company focused on establishing REE, uranium and other rare metal resources through exploration and property acquisition. With multiple projects across North America, Ucore's primary focus is the 100% owned Bokan - Dotson ridge REE property in Alaska. The Bokan - Dotson ridge REE project is located 60 km southwest of Ketchikan, Alaska and 140 km northwest of Prince Rupert, British Columbia and has direct ocean access to the western seaboard and the Pacific Rim, a significant advantage in expediting mine production and limiting the capital costs associated with mine construction.

The Bokan properties are located in an area reserved for sustainable resource development with an existing road network providing access to the main target areas. REE mineralization at the Bokan-Dotson ridge project occurs in a well-demarcated vein system related to a Mesozoic Bokan peralkaline granitic complex. However, a number of other occurrences of REE mineralization are also located within, or at the margins of the complex. Viewed in a geological and geophysical context, the Bokan complex is a distinctive circular structure and is highly prospective for rare earth deposits.

This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.

Contact Information

Ucore Rare Metals Inc.
Mr. Jim McKenzie
President and Chief Executive Officer
(902) 482-5214
www.ucore.com

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