MGold Resources Inc. Reports That Mr. Edward Kosowy Has Resigned as a Director and as Interim Chief Financial Officer Effective August 13, 2012

| Source: MGold Resources Inc. MGold Resources Inc.

CALGARY, ALBERTA--(Marketwire - Aug. 17, 2012) - MGold Resources Inc. (TSX VENTURE:MNI) reports that Mr. Edward Kosowy has resigned as a Director and as Interim Chief Financial Officer effective August 13, 2012.

Contact Information:

MGold Resources Inc.
Mr. John E. Squarek, P.Eng., MBA
President and Chief Executive Officer
403-388-0969
John.Squarek@mgold.ca
www.mgold.ca