Meadow Bay Gold Corporation Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2013) - Meadow Bay Gold Corporation (the "Company") (TSX:MAY)(OTCQX:MAYGF)(FRANKFURT:20M)(WKN A1C3DN) has completed a non-brokered private placement of 2,530,910 units for gross proceeds of $513,000. Of the 2,530,910 units, 2,190,000 units were issued at a price of $0.20 per unit, and 340,910 units were issued at a price of $0.22 per unit to insiders of the Company. Insiders participating in this private placement include the CEO, CFO, Chief Geologist, and a director of the Company. Each unit consists of one common share and one common share purchase warrant exercisable for a period of four years from the closing at a price of $0.30 per share in the first and second years, $0.35 in the third year and $0.40 in the fourth year. The securities will be subject to a four-month hold period as required under applicable securities laws. A finder's fees was paid to Canaccord Genuity Corp. on a portion of the gross proceeds.

The net proceeds of the financing will be used to conduct exploration work at Meadow Bay Gold's one hundred percent owned Atlanta Gold Mine project in Nevada and for general working capital.

In the United States, the Shares were offered and sold pursuant to exemptions from the registration requirements of the United States Securities Act of 1933 (the "1933 Act"). The Shares have not been and will not be registered under the 1933 Act and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.