The Concerned Shareholder of MGold Resources Inc. Reports on AGM Results

CALGARY, ALBERTA--(Marketwire - June 29, 2012) - Martin Ellis, a Concerned Shareholder of MGold Resources Inc. ("MGold" or the "Corporation"), is pleased to confirm that, with the overwhelming support of shareholders, Hugh Loney, Patrick A. Acham, Edward C. Kozowy & John E. Squarek have been elected as the Corporation's new Board, at the annual shareholders meeting in Montreal today.

The new Board plans to:

• Immediately review and address any current or outstanding corporate matters including, but not limited to, existing material contracts and obligations;
• Following appointment of corporate officers and completion of the review noted above, chart a clear course and defined objectives for the mutual benefit of the Corporation's shareholders and stakeholders; and
• Establish a program to keep shareholders informed of developments in the coming months.