SAS Reports Encouraging Results from Underground Drilling at the Holt Mine

TORONTO, May 9, 2012 /CNW/ - St Andrew Goldfields Ltd. (TSX: SAS) (OTCQX: STADF), ("SAS" or the "Company") is pleased to report results from underground drilling conducted at Zone 4 at the Holt Mine and the planned start of a 5,000 metre surface drilling program to test the westerly extent and plunge of the zone.

HIGHLIGHTS

Notes: All lengths are reported as core length as true width is not available at this time; all assays cut to 25.00 g/t Au

"Results down dip of Zone 4 at the Holt Mine are very encouraging", said Jacques Perron, President & CEO of SAS. "This zone, which has performed very well to date, continues to demonstrate positive potential to increase the level of resources and reserves for the Holt Mine. We look forward to commencing the surface drilling program and results will be released as they become available."

Zone 4 - Holt Mine
Development of a drill platform was completed late in 2011 on the 1075m Level, designed to test the mineralization of the Zone 4 ore body below and west of the lowest working levels of the Holt mine.  Drilling confirmed the high grade and very consistent nature of the mineralization and will be used to update the mineral resources and mineral reserves at year end. As at December 31, 2011, the mineral resources estimate for Zone 4 outlined 3.8 million tonnes at an average grade of 5.47 g/t Au, for a total of 667,000 ounces of measured and indicated resources, and 4.2 million tonnes at an average grade of 5.43 g/t Au, for 731,000 ounces of inferred resources. The mineral reserves for the zone were estimated at 1.2 million tonnes, at an average grade of 5.18 g/t Au, for a total of 202,000 ounces of gold reserves.

A 5,000 metre surface drilling program is planned approximately 200 metres west of the underground drilling to test the westerly extent and plunge of the zone, and is expected to commence during the quarter.

Highlights of the most recent drilling results are summarized in the table below:

Note: All lengths are reported as core length as true width is not available at this time; Assays capped at 25.00 g/t Au

Drilling, Assaying and QA/QC
Underground drilling at Zone 4 was completed by Forage Azimut Inc. Analytical work was performed by the Company's in-house laboratory with check samples sent to Swastika Laboratories Ltd., for quality control.

Qualified Person
The development programs at the Holt and Holloway mines are under the supervision of Duncan Middlemiss, P.Eng, the Company's COO and Vice President of Operations. Mr. Middlemiss is a qualified person as defined by NI 43-101, and has reviewed and approved this news release.

About SAS
SAS (operating as "SAS Goldmines"), is a gold mining and exploration company with an extensive land package in the Timmins mining district, north-eastern Ontario, which lies within the Abitibi greenstone belt, the most important host of historical gold production in Canada. SAS is focussed on developing its assets in the Timmins Camp, with three producing mines and aggressive exploration activities across 120km of land straddling the Porcupine-Destor Fault Zone.

FORWARD-LOOKING INFORMATION

This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") under applicable securities laws, concerning the Company's business, operations, financial performance, condition and prospects, as well as management's objectives, strategies, beliefs and intentions. Forward-looking information is frequently identified by such words as "may", "will", "plan", "expect", "estimate", "anticipate", "believe", "intend" and similar words referring to future events and results, including in respect of the extent, timing, objectives and interpretation of drilling programs to be conducted by the Company at Zone 4 at the Holt Mine and the completion of an updated mineral resources and reserves estimate.

This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, uncertainties relating to the interpretation of the geology, continuity, grade and size estimates of the mineral reserves and resources; the Company's dependence on key employees and changes in the availability of qualified personnel; fluctuations in gold prices and exchange rates; operational hazards and risks, including the inability to insure against all risks; changes in laws and regulations; and changes in general economic conditions. Such forward looking information is based on a number of assumptions, including in respect of the ability to achieve operating cost estimates, the level and volatility of the price of gold, the accuracy of reserve and resource estimates and the assumptions on which such estimates are based, the sufficiency of the Company's cash flows to achieve its planned programs and the ability to attract and retain adequate qualified personnel to conduct its exploration programs and operate its mines. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information. Accordingly, readers are cautioned not to place undue reliance on this forward-looking information. SAS does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws. A further description of the risks and uncertainties facing the Company may also be found in the Company's Annual Information Form available on SEDAR at www.sedar.com.

SOURCE St Andrew Goldfields Ltd.