Mahdia Gold Corp.

Mahdia Gold Corp.

March 27, 2013 13:40 ET

Mahdia Gold Corp. (CNSX:MGD) Announces Executive Reorganization- Focus on Mine Planning

TORONTO, ONTARIO--(Marketwire - March 27, 2013) - Mahdia Gold Corp. ("Mahdia" or the "Company") (CNSX:MGD) is pleased to announce the appointment of Andre J Douchane as President and CEO. Mr Douchane was announced as a consultant to the Company on December 13, 2012 and is a seasoned mining executive with over 40 years of experience in the mining industry with a solid track record of successfully bringing development projects into production. He replaces Interim CEO Donald Gordon.

"We are pleased to have such an experienced individual as Andre to step up his involvement to lead MAHDIA": said Alan Zaakir, Chairman of MAHDIA GOLD. Mr. Douchane was also appointed to the Board of Directors.

Mr. Douchane is a mining engineer with a wide variety of operating and management experience. He has held various senior executive positions over the past 20 years with responsibilities in North and South America and Australia. Most recently Mr. Douchane was interim CEO for North American Palladium where he continues as a director.

Mr. Douchane stated "Our initial focus will be to get a large scale placer operation up and running and then begin a feasibility study on milling options for the large low-grade stockpile and surrounding surface mineral potential".

In addition to replacing Mr. Gordon as CEO, the reorganization included Mr. David Bending stepping down as President and being appointed the Executive Vice President of Exploration: Mr. Ted Ens was confirmed as the Executive Vice President of Operations and has resigned from the board due to time commitments. The board remains otherwise unchanged but now with three independent Directors.

"We have reorganized the Board and senior management so that our focus in the near term is on the placer operation and development of future milling scenarios": said Mr. Zaakir. I would also like to thank Mr. David Bending for his service as President, Mr. Ted Ens for his service on the Board, and Mr. Donald Gordon for assisting the Company as Interim CEO.

For additional information including a photo library showing the advancement of activities at the Omai mine site please visit the Company's website at

About Mahdia Gold Corp.

Mahdia is a Canadian-based gold exploration company with active gold prospects in Guyana, South America.

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

Neither CNSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of this release.

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