Mahdia Gold Corp.

Mahdia Gold Corp.

August 30, 2012 13:13 ET

Mahdia Gold Corp (CNSX:MGD) Appoints New Director

TORONTO, ONTARIO--(Marketwire - Aug. 30, 2012) - Mahdia Gold Corp. (the "Company") (CNSX:MGD) is pleased to announce the appointment of Mr. John Martin to the Board of Directors as a non-executive director and the Chair of the Audit Committee.

John Martin is the President and Chief Executive Officer of Shaljero Advisors Inc., an integrator of professionals dedicated to assisting private and public entities in accessing capital markets and managing their acquisitions and divestitures. Mr. Martin's involvement with clients in finance and M&A activities has often resulted in controllership and CFO assignments on an interim basis. Mr. Martin has assisted clients in establishing and integrating operations in the United States, Europe, and for the past four years primarily in the resource industry in Colombia, South America.

Mr. Martin is currently the Chief Financial Officer of Tolima Gold Inc. (TSXV: TOM) and the Chief Financial Officer of Santa Maria Petroleum Inc. (TSXV: SMQ), as well as a former director and Chief Financial Officer of Colcan Energy Corp., a private oil and gas exploration company. Mr. Martin assisted with the 2012 business combination of Colcan and Sintana Energy Inc., a $128mm transaction, was formerly the Chief Financial Officer of APO Energy Inc., a $165 million private oil and gas explorer and producer in Colombia, and assisted with the 2010 merger of APO Energy Inc. with P1 Energy Corp, a $450mm transaction.

Mr. Martin graduated from the University of Western Ontario and is a founding partner of Evans Martin LLP, Chartered Accountants, which merged with MNP LLP on January 1, 2012.

Commenting on the Board changes, Chairman and CEO of the Company, Alan Zaakir said: "Mr. Martin brings significant resource experience and governance knowledge to our board and will be a true asset to the Company at this stage of its development."

About Mahdia Gold Corp.

Mahdia is a Canadian-based gold exploration and development company with interests in three gold-bearing concessions in central Guyana, namely Omai, Tiger River, and White Creek.

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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