November 28, 2003

News Release: St Andrew Announces Approximately $10 Million Private Placement for Exploration and Development Programs

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

St Andrew Goldfields Ltd. (T-SAS) ('St Andrew') announced it is undertaking a private placement financing for total gross proceeds of up to approximately $10.0 million.

The Private Placements will consist of up to 16,670,000 flow-through shares and up to 20,000,000 units with each unit consisting of one common share and one half of one common share purchase warrant. The price of each flow-through share will be $0.30 per share and the price of each unit will be $0.25 for total gross proceeds of $10,001,000. Each whole warrant will be exercisable for two years for one common share at $0.285 per share. The agent will have an option to increase the offering size by up to an additional $2.0 million through the placement of up to 4,000,000 units and up to 3,340,000 of flow-through shares.

The proceeds from the flow-through offering will be used for exploration expenses with respect to St Andrew's proposed 2003 Timmins Exploration Program, including the Clavos Advanced Exploration Project. The proceeds from the unit offering will be used for general corporate purposes and development and exploration expenses at the Nixon Fork Gold Mine, Alaska. All of the securities issued pursuant to the foregoing will be subject to a four-month hold period. The private placements are subject to the approval of the TSX.

Griffiths McBurney &Partners will lead a syndicate with respect to the private placement on a best efforts basis. It is anticipated that closing of the offering will occur by December 11, 2003.

For further information about St Andrew Goldfields Ltd., please visit St Andrew's website at www.standrewgoldfields.com or contact Investor Relations toll-free at 1-800-463-5139 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

This press release shall not constitute an offer of securities for sale in the United States. Securities of St Andrew may not be offered or sold in the United States absent registration or an exemption from registration.

Shares Outstanding - 190 million

St Andrew Goldfields Ltd.Victoria VargasInvestor Relations Manager(905) 815-9855(905) 815-9437 (FAX)Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Andrew Goldfields Ltd.Glenn LaingPresident and CEO(905) 815-9855(905) 815-9437 (FAX)Email: This email address is being protected from spambots. You need JavaScript enabled to view it.: www.standrewgoldfields.com

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