Mengold Resources Inc.

Mengold Resources Inc.

July 10, 2007 21:30 ET

Mengold Retains Investor Relations Consultant

MONTREAL, QUEBEC--(Marketwire - July 10, 2007) - Mengold Resources Inc. (TSX VENTURE:MNI) has retained the services of Philip Beaudoin and Associates, a Toronto-based investor relations and business consultancy. Mr. Beaudoin has been engaged in the investment and securities industry for 38 years, principally with the firms of McLeod Young Weir Limited and Midland Doherty Limited, latterly as its National Sales Manager.

Under the terms of a cancelable contract, Philip Beaudoin will be paid a fee of CDN $5,000 per month and has also been awarded a stock option, expiring January 1, 2009, to purchase 100,000 common shares at a price of $ 0.25 per share. The agreement and the stock option, which vests in four quarter-yearly stages, are subject to the approval of the TSX Venture Exchange.

A prior investor relations contract with Mario Drolet has been terminated.

Mengold is engaged in mineral exploration for precious and base metals. The Company is currently conducting exploration programs at the Burchell Lake and Goldcreek Properties, both prospective for gold, copper, zinc and nickel, in the Shebandowan area west of Thunder Bay, Ontario. Mengold also holds two properties in Quebec, the Mountain River Property near Sainte-Anne-du-Lac, and the Thetford Property in the Eastern Townships. Mengold has 28,245,088 common shares outstanding.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • In Canada
    Mengold Resources Inc.
    Joel Scodnick, President and Chief Executive Officer
    (705) 522-4439 or (807) 933-0464
    (705) 522-8694 (FAX)
    Mengold Resources Inc.
    Douglas G. Reeson
    C.F.O. and Director
    (416) 533-9664
    (416) 533-2890 (FAX)
    In Europe
    Mengold Resources Inc.
    W. Ian L. Forrest, Chairman and Director (FAX)