Randsburg announces Elephant joint venture update

Trading Symbol: TSX-V:RGZ

TORONTO, May 23 /CNW/ - Randsburg International Gold Corporation
(TSX-V:RGZ) announced today an update on its Elephant Gold and Silver project.
Randsburg's CEO and President, Michael Opara said that he is pleased with the
May 17, 2006 announcement by Duncan Park Holdings Corporation (TSX-V:DPH),
Operator of the project, detailing progress with the Elephant Gold and Silver
JV Property. The project is a 50/50 joint venture between Randsburg and Duncan
Park. The property abuts Newmont Mining Corporation's Phoenix Project, where
construction of a new open pit mine complex is underway.
Duncan Park has reported that, based on encouraging Phase 2 and Phase 3
drilling results, they plan an additional 3,500 feet of core drilling at the
Elephant property to commence in May, 2006.
The Phase 4 drilling will target geophysical anomalies coupled with
geologic interpretation of drilling done to date. Three holes will be drilled
in Section 12. This drilling will test the extension of the known
mineralization both along strike in a north to south direction and down dip to
the west.
The Duncan Park announcement also indicated that Randsburg will not be
financing exploration activities at the Elephant property in calendar year
2006. Mr. Opara explained that, "we are committed to investing our resources
in our Titan iron-titanium-vanadium deposit and Victory Strike diamond
project, and are currently directing our resources to these exciting ventures.
Randsburg has met its financial commitments to the Elephant project for 2006,
according to the joint venture agreement, and therefore maintains its 50%
interest in the project."
Randsburg announced on April 5, 2006 major new developments at its
Victory Strike diamond project in Brazil. Highlights of this news release
included:

<<
-  2 diamond-bearing kimberlites discovered
-  4 kimberlites confirmed
-  land assets dramatically increased to 526.6 square kilometres
-  five distinct areas of the property contain diamonds
-  primary sulphides identified in a 150 metre intercept on an additional
   prospecting target
>>

Randsburg announced on April 28, 2006 a NI 43-101 compliant resource
estimate of 58 million tonnes iron-titanium-vanadium at its 100% owned Titan
project located 50 kilometres north of North Bay, Ontario. The deposit,
located at the northern part of the magnetic anomaly is open to the east,
west, south and at depth. Drilling on an additional 8 holes totaling 1651
metres has been completed and results are pending.
Mr. Opara expressed enthusiasm about both of these projects, stating "it
is important that Randsburg's resources continue to support development of the
Victory Strike diamond project and the Titan iron-titanium-vanadium deposit."
He continues, "We believe that current progress both in Brazil and Ontario
will warrant our decision to maintain focus on these important properties."

Elephant Update
---------------
Below is an update on the Phase 3 drill program at Elephant as reported
by Duncan Park to Randsburg and detailed in Duncan Park's news release of
May 17, 2006:
Work to date in 2005 and first quarter of 2006 by the joint venture has
been concentrated on the Elephant claims in section 12 and section 36 located
in the Battle Mountain-Eureka Trend.
The Phase 2 drill program consisted of five diamond bit drill holes,
cored from surface. Three of the five core holes encountered significant
polymetallic gold (Au), silver (Ag), copper (Cu), lead (Pb) and zinc (Zn)
mineralization (please see Randsburg news release of September 7, 2005).
As discussed in the news release of September 7, 2005, the most
significant Phase 2 results were encountered in drill hole P-5C. These results
are repeated here:
Drill Hole P-5C: Elevated anomalously mineralized values were found
throughout the Paleozoic unit and porphyritic intrusive. The highest values
are hosted within faulted porphyry and meta-sediments. The total depth drilled
in this hole was 1147 feet. The following table shows the weighted average of
the more significant intervals:

<<
-------------------------------------------------------------------------
P-5C Intervals        Au g/t      Ag g/t       Cu %       Pb %      Zn %
     Feet
-------------------------------------------------------------------------
  SAMPLE
DESCRIPTION

P-5C 430-435            1.14        1.95           -         -         -
-------------------------------------------------------------------------
P-5C 505-510            0.44        8.82        .144         -         -
-------------------------------------------------------------------------
P-5C 515-525            2.92           -           -         -         -
-------------------------------------------------------------------------
P-5C 545-567            1.13       27.61        .065      .382      .455
-------------------------------------------------------------------------
                                        Including
-------------------------------------------------------------------------
P-5C 565-567             4.4          81        .213      1.60      2.29
-------------------------------------------------------------------------
P-5C 603-610            1.59         3.6           -      .090      .131
-------------------------------------------------------------------------
>>

The Phase 3 drill program consisted of follow-up core drilling to
delineate the known mineralization and further explore prospective areas based
on geophysics and geologic interpretation of the completed core holes at the
Elephant claims.
Phase 3 diamond bit core drilling was completed in March, 2006. Four core
holes were completed. Three drill holes are located in Section 12, Township
30 N, Range 43 E, Mount Diablo Meridian, Lander County, Nevada, approximately
12 miles south of Battle Mountain, Nevada. An additional hole is located in
the southern portion of Section 36, Township 31 N, Range 43 E, Mount Diablo
Meridian, Lander County, Nevada, approximately 1 mile north of the drilling in
Section 12. The area is approximately 2.5 miles southeast of Newmont's Phoenix
Project, which is a copper, silver and gold deposit hosted in Paleozoic
basement rock.
The holes were drilled to test the strike length of known mineralization
as well as extend the known width. The holes also tested the same IP anomaly
targeted in earlier drilling.
Following are the significant drill core assay results from Phase 3. All
are hosted by structurally prepared, metamorphosed Paleozoic sediments or
porphyritic intrusive. The total aggregate of core drilled during Phase 3 was
6103 feet.

Phase 3 Section 12 Assay Results
--------------------------------

Drill hole P-2C was drilled to a total depth of 865 feet:

<<
-------------------------------------------------------------------------
P-2C Intervals           Au-      ME-      ME-      ME-      ME-      ME-
     Feet             ICP22     MS61     MS61     MS61     MS61     MS61
-------------------------------------------------------------------------
  SAMPLE                 Au       Ag       As       Cu       Pb       Zn
-------------------------------------------------------------------------
DESCRIPTION             g/t      g/t      ppm        %        %        %
-------------------------------------------------------------------------
P-2C 605-610          0.061     1.51      284    .0561   .01845    .0437
-------------------------------------------------------------------------
P-2C 610-615          0.031     1.08    182.5    .0967   .01105    .0324
-------------------------------------------------------------------------
P-2C 615-620          0.056     1.46    120.5    .0751    .0135    .0302
-------------------------------------------------------------------------
P-2C 620-625          0.071     2.17      272    .0788   .01965    .0454
-------------------------------------------------------------------------
P-2C 625-630          0.449     8.05     1075    .0893    .0195    .0642
-------------------------------------------------------------------------

Drill hole P-7C was completed to a depth of 1015 feet:

-------------------------------------------------------------------------
P-7C Intervals           Au-      ME-      ME-      ME-      ME-      ME-
     Feet             ICP22     MS61     MS61     MS61     MS61     MS61
-------------------------------------------------------------------------
  SAMPLE                 Au       Ag       As       Cu       Pb       Zn
-------------------------------------------------------------------------
DESCRIPTION             g/t      g/t      ppm        %        %        %
-------------------------------------------------------------------------
P-7C 510-515          0.167     0.66     47.4    .0489    .0114    .0073
-------------------------------------------------------------------------
P-7C 595-600          0.067     0.39     53.1    .0847    .0218    .0221
-------------------------------------------------------------------------
P-7C 600-605           0.12     0.81     52.3    .1120    .0132    .0110
-------------------------------------------------------------------------
P-7C 605-610          0.068     0.38     40.2    .0432    .0258    .0150
-------------------------------------------------------------------------
P-7C 610-615          0.073     0.53     53.4    .0488    .0718    .0145
-------------------------------------------------------------------------
P-7C 615-616.5        0.234     4.49      514    .0594    .0850    .1490
-------------------------------------------------------------------------
>>

Drill hole P-9C
---------------
The collar location of P-9C is 200 feet east of P-7C. This location was
chosen to test a geophysical anomaly defined by the recent Mise-a-la-masse
survey completed in section 12 by Gradient Geophysics, Inc. The hole
encountered Paleozoic bedrock and is considered a success when using the
geophysics to locate drilling targets. The alteration and faulting of the
Paleozoic sequence is similar to that in P-5C. Assays are pending for the zone
of interest within the Paleozoic sequence. P-9C was completed to a total depth
of 2388 feet.

Phase 3 Section 36 Assay Results
--------------------------------

P-8C was drilled to a total depth of 1835 feet:

<<
-------------------------------------------------------------------------
P-8C Intervals        Au-     Ag-     ME-     ME-     ME-     ME-     ME-
     Feet          ICP22    AA45    MS61    MS61    MS61    MS61    MS61
-------------------------------------------------------------------------
  SAMPLE              Au      Ag      Ag      As      Cu      Pb      Zn
-------------------------------------------------------------------------
DESCRIPTION          g/t     g/t     g/t     ppm       %       %       %
-------------------------------------------------------------------------
P-8C1390-1395      0.504    18.1   16.55     431   .0368   .5810   .5980
-------------------------------------------------------------------------
P-8C1425-1430       0.15     9.5   10.05     173   .0918   .2030   .2250
-------------------------------------------------------------------------
P-8C1430-1435      0.458    37.7    30.8     478   .0613     1.5    1.66
-------------------------------------------------------------------------
P-8C1455-1460      0.441     2.9    3.53   113.5   .0567   .0518   .0682
-------------------------------------------------------------------------
P-8C1460-1465      0.217    12.7    13.2     251   .0990   .1685  .01755
-------------------------------------------------------------------------
P-8C1475-1480      0.131    14.9    20.8     233   .3420   .0190   .0570
-------------------------------------------------------------------------

Interpretation of drilling results, Sections 12 and 36
------------------------------------------------------
The salient points of the interpretation of mineralization and geology as
observed in core drill holes drilled to date at the Elephant property are as
follows:

-   The highest metal values are hosted by Paleozoic to Cretaceous
    basement rock.
-   The mineralization is structurally controlled.
-   The best values are related to, or found within, metamorphically
    altered porphyry.
-   There are 2 separate mineralizing events; an early silver, lead, zinc
    (+/- copper) event, and a younger gold +/- silver event.
-   The drilling results from P-8C in Section 36, approximately one mile
    north of the drilling in Section 12, indicate that the favorable
    stratigraphic sequence is present over this distance. It is highly
    probable that the anomalous mineralization extends from Section 12 on
    the south and runs below Section 1 (controlled by Newmont Mining) to
    Section 36.
>>

The drill core was taken from the core drilling rig by the geologist and
brought to the secured location at the Battle Mountain facilities. Drill cores
were logged and then split by diamond saw at the Battle Mountain field office
of Duncan Park Holdings (DPH). Splits are retained in the DPH warehouse for
reference purposes and the other half are bagged as core samples picked up by
representatives of ALS Chemex from the DPH warehouse.
Assaying was conducted by ALS Chemex of Vancouver, BC, Canada. Gold was
assayed by using 50g charge Fire Assay with ICP-AES finish. Multiple Element
analysis was done using 47 element four acid ICP-MS.
This progress update is based on the report by Mr. Gregory L. Griffin,
B.Sc. Geology, of Carlin, Nevada, Project Manager/Senior Geologist of Duncan
Park Holdings Nevada, Ltd.

Elephant Property Summary
-------------------------
The joint venture's Elephant Gold and Silver claim groups are located
along the strategic Battle Mountain-Eureka mineral belt and geologic trend in
northeast Nevada. The Elephant claim groups consist of 253 lode mining claims
covering 6.5 square miles in Lander County, Nevada. The joint venture also
controls 3591 acres (5.8 square miles) of additional private lands at Elephant
leased from Nevada Land and Resource Company, LLC.
Dr. Ken Germundson, Ph.D, Professional Geoscientist, is the Company's
Qualified Person under the meaning of National Instrument 43-101 for the
Elephant Project. Dr. Germundson has reviewed this news release and approved
its contents.

ABOUT RANDSBURG INTERNATIONAL GOLD CORPORATION
----------------------------------------------

Randsburg International Gold Corporation is a Canadian exploration
company listed on the TSX Venture Exchange (Symbol TSX-V:RGZ). The Company is
engaged in exploring for diamonds, titanium, iron, precious and base metals,
and platinum group metals (PGMs) in Brazil, Canada and Nevada. The Company has
three active exploration projects:

<<
1. Victory Strike diamond project in Brazil - 85% owned
2. Titan Project (iron-titanium-vanadium) in Northern Ontario - 100%
   owned
3. Elephant Gold and Silver Project, Nevada - 50% owned
>>

To find out more about Randsburg International Gold Corporation (TSX-V:
RGZ), visit our website at www.randsburgdiamonds.com

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FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all
statements in this news release - including, without limitation, statements
regarding forecasts, plans and objectives of Randsburg International Gold
Corp. - are forward-looking statements that involve various 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.

The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.

Copyright, 2006 Randsburg International Gold Corporation. This news
release can be reproduced and retransmitted in whole, with no changes
permitted, and providing it is supplied and made available without charge
to the end reader.