THG

March 15, 2012 - Threegold Resources Inc (TSX VENTURE:THG) is pleased to
announce assay results for gold from the phase 2 diamond drilling program on its
South Bay gold project located in the prolific Abitibi Greenstone Belt, some 40
km east of Val-d'Or, Quebec. Results for gold reveal the South Bay Property as
very prospective gold project and the Main Zone (including Nord 1 and Nord 2
showings) as a promising gold mineralized system. 


The 2011 phase 2 diamond drill program, totalling 1819 metres in eighteen (18)
holes, was designed to test the extensions along strike over more than 250 m,
laterally and at depth of the Main Zone (North) defined by the Nord 1 and Nord
2. The best intercepts, in core length, are summarized as follows :


Main Zone (North) including Nord 1 and Nord 2 showings



--  Hole SB-11-01 : 1.01 g/t Au over 8.3 metres (from 34.9m to 43.2m),
    including sections grading at 2.10 g/t Au over 3.4 metres and 6,43 g/t
    over 0.5 metre;
    
    
--  Hole SB-11-06 : 0.56 g/t Au over 1.0 metres (from 20.7m to 21.7m) and
    1.33 g/t Au over 4.9 metres (from 72.3m to 77.2m);
    
    
--  Hole SB-11-02 : 0.82 g/t Au over 5.0 metres (from 34.0m to 39.0m),
    including a section grading at 1.79 g/t Au over 2.0 metres;
    
    
--  Hole SB-11-03 : 0.87 g/t Au over 3.0 metres (from 55.5m to 58.5m),
    including a section grading at 1.26 g/t Au over 2.0 metres;
    
    
--  Hole SB-11-08 : 0.97 g/t Au over 1.0 metres (from 34.0m to 35.0m),
    including a section grading at 1.12 g/t Au over 0.5 metre; and 0.5 g/t
    Au over 3.2 metres (from 42.0m to 45.2m);
    
    
--  Hole SB-11-10 : 0.66 g/t Au over 4.0 metres (from 23.0m to 27.0m),
    including a section grading at 1.09 g/t Au over 1.0 metre; and 1.14 g/t
    Au over 0.6 metre (from 38.0m to 38.6m); 



Threegold has been exploring the South Bay property since the fall of 2010 with
the objective of testing historical gold occurrences and assessing the
near-surface context of the Main (North) Zone mineralization. The 2010 trenching
and drilling program (phase 1) was highly successful in demonstrating the
continuity of the Main Zone and the potential for wider zones (up to 1.73 g/t Au
over 5.3 m including 6.76 g/t over 0.9 m; see press release Sept 22, 2011). The
2011 drill program confirms the presence of gold mineralization at shallow depth
and highlights the occurrence of an envelope of strong gold mineralization
recognizable over a minimum strike length of 250 m and a width ranging from 50
to 100 m. This mineralized system is characterized by disseminated pyrite in
quartz veins with tourmaline, enclosed in several, meter thick, shear zones
straddling the contact between a tonalite, feldspar porphyry dykes and mafic
volcanics. The sheared rock package is highly silicified and sericitized with
chlorite and biotite. 


The new occurrence recently discovered at approximately 900 m north of the Main
Zone, and characterized by quartz veins in sheared metavolcanics, was traced
over 100 m and returned values in gold of up to 1.71 g/t Au in grab samples (see
press release Sept 22, 2011). Grab samples are selective by nature and are
unlikely to represent average grades. Further exploration is still required to
validate these results and assess the full gold potential of this zone. In
addition, the mineralized trend enclosing the Central Gold and Silver -Zinc
showings where high grade values in silver were revealed (135 g/t Ag, see press
release Sept 22, 2011) are also of particular interest. Complete results for
these latter areas are still pending and will be released as soon as they will
be interpreted. 


Victor Goncalves, President and CEO of Threegold Resources Inc. stated: ''We are
pleased and very encouraged to release this successful set of drill results,
which confirm the extension of high grade gold over significant lateral and
along-strike lengths as well as at shallow depth. We are also excited about
launching phase 3 drilling program early this spring that will be designed to
assess the other promising and untested anomalies from the recently completed IP
survey. I am also very pleased to have Mr. Berclaz really sink his teeth into
this project as he has done his masters in the area of South Bay". 


Quality Control 

Antoine Fournier, P.Geo has supervised the diamond drilling and sampling
program. Assay samples were taken from NQ core sawed in half, with one half sent
to Agat Laboratories, a commercial laboratory in Mississauga, Ontario, and the
other half retained for future reference. A strict QA/QC program was applied to
all samples, which includes mineralized standards and blank samples for each
batch of 20 samples. The gold analyses were completed by fire assay with an
ICP-OES finish on 50 grams of material. Repeats were carried out by fire assay
followed by gravimetric finish on each sample containing 3.0 g/t gold or more.
Routine checks and duplicates are also performed by Agat laboratory as part of
their internal quality control and quality assurance protocol. Alain Berclaz,
P.Geo., Vice-President Exploration for Threegold Resources and a Qualified
Person as defined by National Instrument 43-101, has reviewed the technical
content of this press release. 


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.


You can also visit our website: www.threegold.ca

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