SOURCE: Medallion Resources Ltd.

Medallion Resources Ltd.

June 07, 2016 06:00 ET

Medallion Appoints Mark Saxon to Advisory Board

VANCOUVER, BC--(Marketwired - June 07, 2016) - Medallion Resources Ltd. (TSX VENTURE: MDL)(OTC PINK: MLLOF) ("Medallion" or the "Company"), today announced it has appointed Mr. Mark Saxon, a well-respected mineral exploration executive with considerable rare-earth experience, to its Advisory Board. Mark Saxon is President and CEO of Tasman Metals Ltd., which is a company focused on the development of the Norra Karr heavy rare-earth and industrial minerals property in Sweden.

"Mark is a great addition to our Advisory Board, bringing industry-focused strategic thinking and a deep network of important relationships," said Don Lay, Medallion's President & CEO. "The rare-earth development community has contracted significantly over the last few years leaving fewer players. Mark and I share the view that there are substantial opportunities in the complex rare-earths and critical metals arenas, and that groups with commitment to the sector will deliver for their shareholders."

"I believe Medallion's by-product monazite strategy is a smart approach to bring new rare-earth concentrates quickly to market," Mr. Saxon stated. "And I look forward to working with Don and Medallion's team on this project."

Mark has more than 22 years of experience in mineral resource exploration and geology with junior and senior companies in gold, base and specialty metal projects. In addition to his role as a founding director and officer at Tasman Metals, Mr. Saxon also sits on the board of Mawson Resources Ltd and Flinders Resources Ltd. An Honours BSc graduate in Geology from the University of Melbourne and a Fellow of the Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists, Mr. Saxon also has received a Graduate Diploma of Applied Finance and Investment through the Financial Services Institute of Australasia.

About Medallion Resources

Medallion is focused on low-cost, near-term, rare-earth production by exploiting the mineral monazite. Monazite is a rare-earth phosphate that is available as a by-product of existing mining and mineral-sands sources, principally in the Indian Ocean basin. Rare earths are used in critical components for virtually all computing and mobile electronic products, as well as wind turbines, electric and hybrid vehicles, and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of transport, processing and safe management of waste. More about Medallion (TSX VENTURE: MDL)(OTC PINK: MLLOF)(FRANKFURT: MRD) can be found at medallionresources.com.

Medallion management takes full responsibility for content and has prepared this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as statements relating to future plans of Medallion, plans regarding purchasing or processing monazite, construction of a pilot plant, changes to Medallion's advisory board, and any other statements regarding objectives or goals, including words to the effect that Medallion or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including risks related to Medallion's ability to raise further financing, and the risks inherent in completing pilot plant-scale processing tests and applying the results to full-scale production and other risks outlined in the Company's management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements, and therefore investors should not place undue reliance on forward looking statements. Also, in order to proceed with Medallion's plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion's plans. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future anticipated events.

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