San Gold Corporation

SXR:TSX-V
www.sgxresources.com

WINNIPEG, Dec. 17 /CNW/ - Hugh Wynne, CEO of SGX Resources Inc. (SXR:TSX-V) is pleased to report that initial exploration step-out drilling from surface has been successful in extending the Timmins North (formerly known as Black Pearl) deposit. Drill hole # SGX-10-03 intersected 3.54 g/tonne over 4.7 meters at 350 meters below surface, approximately 100 meters below previously drilled limits. Results have been received for three holes to date as listed below, with results from an additional 18 holes pending. The Timmins North gold deposit is owned 50% by San Gold Corporation (SGR: TSX) and 50% by SGX Resources Inc. with SGX being the operator.

All drill holes for which assays have been received at Timmins North Deposit are listed below:

The Timmins North property contains a mineral deposit with an indicated resource of 93,000 ounces gold at 8.0 g/t and an inferred resource of 139,880 ounces gold at 7.3 g/t (Geoex Limited, 2010). The deposit has not been fully delineated, and is open at depths below 250 meters. In addition, there are numerous areas within the deposit which have not been drill tested and could contain additional resources. This property is located within the Tully Township, near and to the north of Timmins, ON.

Sections, plans and diagrams related to this press release are available at the company's website www.sgxresources.com, including a detailed longitudinal section displaying the results to date.

This program was carried out under the supervision of John Boissoneault, P.Eng., of SGX Resources Inc., the qualified person responsible for this news release. The drill core was split, with half sent to Activation Laboratories in Timmins, ON and fire assayed with an AA and gravimetric finish. Whole metallic assays were performed on samples containing visible gold. Check assays were also performed on pulps and rejects, as well, blanks and standards were inserted into the sample stream. The core lengths are actual lengths as drilled and have not been adjusted for the true width of the mineralized zones. For further information contact Hugh Wynne, CEO of SGX Resources Inc., at 1- 888-749-4621 (Office 204-774-6771) or at (204) 791-1723. A copy of the press release including graphics will be made available on the company's website and has been filed with Sedar.

NOTE: The information in this release may contain forward-looking information under applicable securities laws. 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 implied in the forward-looking information.

For further information:

Hugh Wynne, CEO of SGX Resources Inc., at 1- 888-749-4621 (Office 204-774-6771) or at (204) 791-1723