MacMillan Gold Corp.
TSX VENTURE : MMG

MacMillan Gold Corp.

March 19, 2007 12:41 ET

MacMillan Gold Announces $1,925,000 Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 19, 2007) - George A. Brown, President & CEO of MacMillan Gold Corp. (TSX VENTURE:MMG) is pleased to announce that the Company has filed a price reservation Form 4A with the TSX Venture Exchange for a non-brokered private placement. The private placement is expected to raise $1,925,000 by issue of 5,500,000 common shares at $0.35 per share and each share will come with a half warrant. Each full warrant (two half warrants) will entitle the purchaser to obtain a common share at a price of $0.50 for a period of 18 months from closing date. The warrants have a forced exercise provision which allows MacMillan to news release an earlier expiry date of 30 days from the news release date if the shares have traded for $1.00 or more for 10 consecutive trading days. The closing date is expected to be on or by March 23, 2007. Finder's fees in cash and / or shares as allowed by the TSX Venture may be paid pertaining to this private placement. The Company has 46,707,912 shares issued and outstanding prior to the shares to be issued as a result of this private placement.

Proceeds from this private placement will be used to meet ongoing corporate working capital requirements including the funding of the Company's ongoing exploration programs. The Company is currently drilling the 13-hole Phase 1 program at the La Mus Silver Gold Property (News Release March 1, 2007). Once completed, the Company plans to conduct drill programs at both the El Zafiro Gold Property and the La Cucharas Gold Property. Drill programs are expected to continue on these three projects on the west side of the Sierra Madre Mountains until the rainy season which usually commences in late June. MacMillan then plans to conduct follow up drill programs at the Maderito Target and the San Leonides Target at the Cerro de Oro Property in Zacatecas. The Cerro de Oro is located near the Penasquito and Outcrop Discoveries by Western Silver which resulted in the purchase of Western Silver by Glamis in May 2006 for over US$1 Billion.

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

The TSX Venture Exchange has not reviewed nor accepted responsibility for the adequacy or accuracy of the contents of this news release.

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