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SunGold Cancel Existing Warrants, Renews Contract with CTO

TORONTO, Canada -- (PRESS RELEASE) -- SunGold International Holdings Corp. ("Sungold") (OTCBB:SGIHF) today announced that it has reached an agreement with the estate of Kim Noble Hart, the former President and CEO of Horsepower Broadcasting Network (HBN) International Ltd., to cancel warrants to purchase 55,150,000 common shares of Sungold International Holdings Corp. previously granted to Mr. Kim Noble Hart. Sungold® has also reached agreement with two other warrant holders to cancel an additional 550,000 warrants.

The warrants that have been cancelled represented all the outstanding warrants of the company at the time. In settlement with the estate of Kim Noble Hart, Sungold International Holdings Corp. agreed to pay the estate US$25,000 and assume the overhead of an office space.

In addition, Sungold is pleased to report that we have renewed a one year consulting agreement with Jeff Grant to continue as the Chief Technical Officer of its subsidiary, Horsepower Broadcasting Network (HBN) International Ltd. Jeff Grant has been instrumental in the development of the Horsepower World Pool pari-mutuel wagering game and will continue to expedite its development to completion and installation.

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