Val d’Or, Québec – March 29, 2012 – Threegold Resources Inc. (``Threegold`` or ``thecompany``) (THG: TSX-V) is pleased to announce results from the Phase One diamond drillprogram that Bowmore Exploration Inc (BOW: TSX-V, 0B5.F: Frankfurt, ``Bowmore``) on itsStandard Gold and Duverny properties, both located in the Abitibi region of Quebec. Theobjectives of this program were to confirm some of the historical gold intersections in proximityto the Standard Gold deposit, and test the host granodiorite dyke for possible extensions to goldmineralization along sections spaced several hundred metres apart. The dyke, defined fromprevious drilling and by its aeromagnetic signature, is 4.8 km long and 150 to 250 metres wide.It occurs on both properties and hosts the Standard Gold deposit. Both properties host akilometric, intense carbonate (ankerite) alteration zone that is the regional exploration target.

The ten hole drill program covered a strike length of about 3600 meters around the StandardGold deposit. Highlights are summarized in the following table:

Hole No.	From (m)	To (m)	Length (m)	Au g/t
SG11-01	10.0	78.0	68.0	0.74
including	26.0	27.0	1.0	19.05
And	106.0	150.0	44.0	0.59
SG11-02	54.0	69.0	15.0	0.49
And	147.0	160.0	13.0	0.56
SG11-05	106.0	132.5	26.5	0.57
including	128.0	129.0	1.0	6.03
SG11-06	51.0	52.0	1.0	7.05
And	69.0	85.0	16.0	0.80
And	275.0	287.0	12.0	0.54
And	339.0	340.0	1.0	7.06
And	365.0	373.0	8.0	1.43
SG11-07	95.0	96.0	1.0	2.44
And	289.0	291.0	2.0	1.45
And	363.0	364.0	1.0	2.46

 

DDH SG11-01, SG11-02 and SG11-06 were drilled into the known deposit over a strike length of about 380 metres. DDH SG11-03 and SG11-04 were collared 560 metres SE of the deposit and did not intersect significant mineralization. DDH SG11-05 was collared 1480 metres SE of the deposit and intersected 26.5 m grading 0.57 g/t Au along the southern margin of the intrusion. DDH SG11-07 was collared and drilled immediately NW of the deposit. Finally, DDH SG12-08, SG12-09 and DV12-01 tested the NW strike length of the granodiorite up to 2100 metres away from the deposit but did not intersect significant mineralization.

Mr. Victor Goncalves, President and CEO of Threegold Resources Inc., stated: “I am pleased with this first round of drilling on the Standard Gold property. A significant proportion of the gold mineralization in core was disseminated. This confirms the potential for a large low grade bulk-tonnage style gold deposits at the Standard-Duverny Gold package. Further geological mapping and geophysical surveys are slated for spring and early summer to better define the regional carbonate alteration zone on these properties. This will allow or joint venture partner to gear up for the second phase of drilling.”

The Standard Gold and Duverny properties are contiguous and are located in Duverny Township in the Abitibi region of Quebec, some 19km northeast of the town of Amos. The property package and immediate area include three known gold deposits, including the past-producing Standard Gold Mine, which operated between 1935 and 1953.

Both properties encompass a very large (minimum 7 x 8 kilometres) zone of intense carbonate alteration (ankerite) and a array of significant shear zones in proximity to felsic intrusions. Such voluminous carbonate alteration zones are significant for gold exploration as they are associated with major know Archean gold camps, including Timmins, Red Lake and Larder Lake in Ontario and Kalgoorlie in Australia.

Bowmore has an option on both properties. It has a right to acquire a 51% interest in the Standard Gold property from Threegold Resources Inc. (THG: TSX-V) (by way of plan of arrangement from Osisko Mining Corporation) by making total cash payments of $280,000 and incurring expenditures of $4,000,000 over a five year period. Bowmore may acquire an additional 19% interest (total of 70%) by incurring $6 million in exploration expenditures over an additional five year period.

Gilles Lanthier, P.Geo., independent geological consultant for Bowmore, is the Qualified Person who has reviewed this news release and is responsible for the technical information reported herein.

 

---

About Threegold

 

Threegold has established itself as one of the premier exploration companies in Québec. The Company has a highly qualified technical team with extensive exploration experience, including previous gold discoveries in Québec, and management with financing and public company expertise.

Threegold aims to create shareholder wealth through the discovery of new deposits with a focus on Canadian assets, mainly in Québec. Threegold offers investors a portfolio of high-quality exploration projects and the potential to take part in a major discovery.

With a strategic property portfolio and solid partnerships, like the one with Osisko Mining Corporation, Threegold’s goal is to discover a low-cost, multi-million ounce gold deposit in Québec.

 

For further information, please contact:

Mr. Victor Goncalves President and CEO Threegold Resources Inc Tel.: (204) 997-5517 E-mail:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

Mr. Sylvain Laberge Investor Relations Threegold Resources Inc  Tel.: (514) 702-9841 E-mail:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it

You can also visit our website: threegold.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking statements:

Except for statements of historical facts, all statements in this news release regarding, without limitation, new project acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; Actual results and future events could differ materially from those anticipated in such statements.