THG

Threegold Resources Inc (TSX VENTURE:THG) is pleased to announce that drilling
has began on its South Bay gold project about 40 km east of Val-d'Or, Quebec.
The drilling program follows a detailed induced polarization (IP) survey on the
main occurrence and a thorough evaluation of new zones discovered this past
summer. Threegold expects to drill approximately 1,500 metres before the end of
the year. 


The goal of the Phase II drilling program is to trace the sheared and gold
mineralized quartz veins of the main zone at depth and along strike. The 2010
program had successfully tested the original surface discovery zone to a depth
of 25 metres and extended it 25 metres towards the east. The current program
will attempt to trace the zone another 250 metres eastward to an outcrop that
assayed up to 5.9 g/t Au in grab samples, and westward into an area where no
outcrops have been found at surface. Other drill targets include a zone of new
surface occurrences discovered 900 metres north of the main zone during the
summer prospecting program (up to 1.71 g/t Au; press release of Sept. 22, 2011),
a new silver discovery (135g/t Ag; press release of Sept. 22, 2011), and the
most promising anomalies from the recently completed IP survey, which are
currently being assessed in the field. Note that grab samples are selective by
nature and unlikely to represent average grades on the property. 


Threegold has been exploring the South Bay property since the fall of 2010 with
the objective of locating and testing historical gold occurrences and obtaining
geological information about the near-surface context of mineralization at the
main zone. The initial drilling program of five short holes was highly
successful in demonstrating the continuity of the main zone mineralization and
the potential for wider zones (see press release of July 10, 2011).


Antoine Fournier, P. Geo., Vice-President Exploration for Threegold and a
Qualified Person as defined by National Instrument 43-101, prepared this press
release and supervised the 2010 diamond drilling and sampling program. All
assays were performed at Techni-Lab in Ste-Germaine using conventional
fire-assay on a 30-g split with ICP finish. Samples grading above 2 g/t Au and
20g/t Ag were re-assayed by fire-assay with a gravimetric finish. Routine checks
and duplicates are performed by the laboratory as part of their internal quality
control and quality assurance protocol.


About Threegold 

Threegold has established itself as one of the premier exploration companies in
Quebec. The Company has a highly qualified technical team with extensive
exploration experience, including previous gold discoveries in Quebec, 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 Quebec. 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 Quebec.

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