StarGold Mines Provides Update on UniverCompany Acquisition

StarGold Mines (OTCBB:SGDM), a U.S.-based Gold mining company, and its wholly-owned operating subsidiary UniverCompany LLC, a Russian Limited Liability Company (UniverCompany), are pleased to announce the successful registration of StarGold in Russia as the sole participant in UniverCompany LLC. The company had previously announced the acquisition of UniverCompany, a precious-metals mining operation with rights to develop and extract natural resources in the Siberian and Far Eastern Federal Districts of Russia, on August 27, 2007. Thereafter, the company has been working on completing the final acquisition as per Russian law. The registration certificates and the extract from the Unified State Register of Legal Entities in Russia received by the company's Russian counsel were confirmed on March 18, 2008. This solidifies the acquisition under Russian law. StarGold Mines CEO and Director Marcus Segal commented, "This final step in our acquisition of UniverCompany clarifies the ownership and future of the combined entity. We have been working very closely with our Russian counterparts and value their knowledge, commitment and assets. Our goal now is to add natural resources and properties which we intend to explore, develop and extract." About StarGold Mines: StarGold Mines Inc. is a U.S.-based gold mining company which holds rights to develop and extract natural resources. One hundred percent (100%) of its assets are located in Europe, primarily in the Siberian and Far Eastern Federal Districts of Russia. The company’s strategy is to seek investment and acquisition opportunities in Russia and Eastern Europe, with the aim of developing a portfolio of natural resource opportunities attractive to Western investors. Additional information can be found at www.stargoldmines.com. Safe Harbor Statement: A number of statements contained in this press release are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including mining and development risks; the potential for delays in exploration or development activities; risks related to the inherent uncertainty of production and cost estimates; risks related to commodity price fluctuations; the uncertainty of profitability based upon our history of losses; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms for our planned exploration and development projects; risks related to environmental regulation and liability; political and regulatory risks associated with mining development and exploration, particularly as it relates to operations in Russia; other risks and uncertainties related to our prospects, properties and business strategy. The actual results StarGold may achieve could differ materially from any forward-looking statements due to such risks and uncertainties. StarGold encourages the public to read the information provided here in conjunction with its most recent filings which may be viewed at www.sec.gov.