MacMillan Gold Corp.
TSX VENTURE : MMG

MacMillan Gold Corp.

January 17, 2008 14:54 ET

MacMillan Reports Positive Gold and Silver Results From San Miguel NW Target at the La Mus Project

TORONTO, ONTARIO--(Marketwire - Jan. 17, 2008) - George A. Brown, President & CEO of MacMillan Gold Corp. (TSX VENTURE:MMG) is pleased to provide the results of MacMillan's Phase 2 diamond drill program at its La Mus Gold and Silver Project in Sinaloa, Mexico. Mr. William Hamilton, P.Geo. and Manager of Exploration is a Qualified Person under the meaning of Canadian National Instrument 43-101 and is responsible for all technical information contained in this news release.

Three holes totaling 403.9 metres in length were drilled to test the San Miguel NW Target at the La Mus Gold and Silver Project. The Phase 1 drill program at La Mus consisted of four holes totaling 597.40 metres in length that were drilled to test the north-northeast trending San Miguel NW Target along 225 metres of strike length (see News Release dated October 25, 2007).

The following table is a summary of the Phase 1 and 2 drill holes in this target listed by section from the north to the south:



Hole # Depth in Metres Azimuth Dip Section
------ --------------- ------- --- -------
17 123.60 270 -45 20 N
11 94.80 285 -45 0 N
15 129.75 285 -45 0 N
16 150.55 260 -45 20 S
12 180.30 285 -45 100 S
13 172.45 285 -45 225 S
14 149.85 -90 225 S


Assay results from Holes #11 through #17 have been received and compiled. The notable drill intercepts are outlined in the table below listed along sections from north to south:


Estimated
From To Width True Width Total g Ag
metre metre metre Metre g Au/t g Ag/t Equivalent/t(i)
------ ----- ----- ---------- ------ ------ ---------------
Hole #17 53.5 54.3 0.80 0.80 0.485 121.3 145.55
92.0 93.1 1.10 1.10 0.312 38.7 54.3
110.0 111.0 1.00 1.00 0.221 41.4 52.45
121.5 123.0 1.50 1.50 0.320 22.5 38.5

Hole #11 61.0 70.5 9.5 9.5 0.146 18.0 25.3
84.0 89.3 5.3 5.3 3.103 280.6 435.8
including 85.47 88.3 2.83 2.83 5.342 477.7 744.8

Hole #15 77.05 82.50 5.45 5.45 0.356 67.9 85.7
Including 79.5 80.5 1.00 1.00 1.098 238.8 293.7
98.2 103.45 5.25 5.25 0.717 33.1 104.5

Hole #16 104.45 110.45 6.3 6.3 0.574 126.4 155.1
Including 105.8 110.45 4.65 4.65 0.731 163.7 200.25

Hole #12 116.95 128.4 11.45 11.45 0.215 20.7 31.5
including 116.95 118.45 1.5 1.5 0.225 40.4 57.3
also
including 124.45 125.95 1.5 1.5 0.401 32.2 62.3
152.85 164.85 12.0 12.0 0.793 3.0 42.7
including 155.85 163.35 7.5 7.5 0.981 3.1 52.1

Hole #13 78.05 79.05 1.0 1.0 0.229 47.1 58.6
303.9
(0.2% lead,
91.55 93.05 1.5 1.5 5.486 29.6 0.6% zinc)
150.65 151.65 1.0 1.0 0.334 7.1 23.8
156.05 157.55 1.6 1.6 0.352 5.3 22.9

Hole #14 10.50 11.25 0.75 0.5 0.070 33.7 37.2
27.1 35.0 7.9 5.1 0.982 92.0 140.2
including 30.0 34.0 4.0 2.6 1.495 135.8 206.6
47.0 56.95 9.95 6.4 1.596 86.5 170.8
Including 51.1 52.0 0.9 0.6 2.606 488.1 605.4


(i) Note - The total grams of silver equivalent per ton (g Ag Equivalent/t) is the sum of the silver g/t plus the gold converted to silver equivalent using an economic ratio of 50 to 1 based upon the approximate market values of gold to silver (i.e. Au US$750 and Ag US$15 = 50 to 1). Metallurgical recoveries and net smelter returns are assumed to be 100%. These Equivalents should not be interpreted as actual grades since the conversion ratio varies with the volatile prices of gold and silver and the economic recovery of gold and silver can vary significantly in actual extraction and processing.

At this time, no further drilling on the San Miguel NW Target at La Mus is planned until further surface exploration work is completed on the property and the results are analyzed to determine if additional targets that warrant drilling are identified.

Drilling was completed by Redrilsa Mexico S.A. de C.V. based in Zacatecas. Samples were split and logged by Company personnel at a secure location near the property. All samples are shipped to Inspectorate de Mexico S.A. de C.V. in Durango, Mexico for preparation and then forwarded to Inspectorate Precious Metals Inc. in Sparks, Nevada for assay. Blank and standard quality control/quality assurance samples are inserted into the sample stream. No appreciable assay discrepancies have been noted.

Investors are invited to visit the MacMillan Gold IR Hub at www.agoracom.com/IR/MacMillan where they can post questions and receive answers or review existing questions and answers. Investors may also email questions or request to be added to the investor email list at MMG@agoracom.com.

MacMillan Gold Corp. is a Canadian resource company listed on the TSX Venture Exchange: Symbol "MMG".

The TSX Venture Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of this news release.

Contact Information