Meadow Bay Gold Confirms Historical Drilling at Its Atlanta Gold Mine Project in Nevada and Prepares Current Resource Estimate

Meadow Bay Gold Corporation ("Meadow Bay Gold" or the "Company")
(TSX:MAY)(OTCQX:MAYGF)(FRANKFURT:20M)(WKN A1C3DN) is pleased to report a mineral
resource estimate from its Atlanta Gold Mine Project, Lincoln County, Nevada,
based upon previous exploration holes drilled by former operators and upon
confirmatory drilling conducted by the Company in 2011.


The initial objective of the 2011 drilling program was to confirm the results of
drilling done during previous exploration campaigns in the 1990s. Seven holes
were drilled into the known mineralized zones which confirmed the previous
drilling results. A current mineral resource estimate was then calculated based
on the previous exploration holes and the 2011 confirmation drilling. The
mineral resource estimate, prepared under the guidance of Dr. Matt Ball, P. Geo.
and with an effective date of March 30, 2012, is summarized below.




Main Zone - 0.5 g/t Au cut-off                                              
                                                                            
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                                                                         eAu
               Tonnes     Au g/t     Ag g/t  Au ounces  Ag ounces  ounces(i)
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Indicated   5,798,017       1.62       8.42    302,797  1,569,689    332,413
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Inferred    3,928,317       1.06      19.04    133,662  2,404,717    179,034
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East-West Zones - 0.5 g/t Au cut-off                                        
                                                                            
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                                                                         eAu
               Tonnes     Au g/t     Ag g/t  Au ounces  Ag ounces  ounces(i)
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Indicated   1,461,294     1.5553     4.5157     73,072    212,154     77,074
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Inferred      753,674     1.3404     7.8446     32,479    190,083     36,065
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Aggregate of Main and East-West Zones - 0.5 g/t Au cut-off                  
                                                                            
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                                                                         eAu
               Tonnes     Au g/t     Ag g/t  Au ounces  Ag ounces  ounces(i)
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Indicated   7,259,311       1.61       7.63    375,869  1,781,843    409,487
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Inferred    4,681,991       1.10      17.24    166,141  2,594,800    215,099
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(i) - eAu determined at an Ag:Au ratio of 53:1                              



The mineral resource estimate was conducted using Inverse-Distance Weighting
grade interpolations within a block model. Mineral Resources were estimated at
several cut-off values. The 0.50 gram per tonne gold cut-off reported above was
selected to reflect a possible cut-off value for a gold open pit milling
operation in North America. 


The Company is to file a technical report in respect of the calculation of the
above mineral resource estimates shortly.


Robert Dinning, CEO, commented, "We emphasize that this resource estimate
represents an interim step between the historic estimate prepared by Kinross
Gold in 1998 and an more complete resource determination that is still under
preparation. With the exception of the initial confirmation holes, this current
estimate does not include the results of the bulk of the 2011 drilling. Nor does
it adequately distinguish between the silicified breccia mineralization and the
more recently discovered porphyry-hosted gold mineralization. The next resource
estimate - which is ongoing - is expected to address both of these concerns." 


Dr. Matt Ball, P.Geo., a Qualified Person as defined by National Instrument
43-101 and independent consultant to the Company, has reviewed the contents of
this press release. 


Meadow Bay Gold is focused on developing the former producing Atlanta Gold Mine
in Nevada, USA. Permitting for the next round of exploration drilling is
ongoing. 


Forward-looking information

This release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation, including predictions, projections
and forecasts. Forward-looking information includes, but are not limited to,
statements that address activities, events or developments that the Company
expects or anticipates will or may occur in the future, including such things as
the calculation of a new mineral resource estimate. 


Often, but not always, forward-looking information can be identified by the use
of words such as "plans", "planning", "planned", "expects" or "looking forward",
"does not expect", "continues", "scheduled", "estimates", "forecasts",
"intends", "potential", "anticipates", "does not anticipate" or "belief" or
describes a "goal" or variation of such words and phrases or state that certain
actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. 


Forward-looking information is based on a number of material factors and
assumptions, including, the result of drilling and exploration activities, that
contracted parties provide goods and/or services on the agreed timeframes, that
equipment necessary for exploration is available as scheduled and does not incur
unforeseen breakdowns, that no labour shortages or delays are incurred, that
plant and equipment function as specified, that no unusual geological or
technical problems occur, and that laboratory and other related services are
available and perform as contracted. Forward-looking information involves known
and unknown risks, future events, conditions, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially
different from any future results, prediction, projection, forecast, performance
or achievements expressed or implied by the forward-looking information. Such
factors include, among others, the interpretation and actual results of current
exploration activities; changes in project parameters as plans continue to be
refined; future prices of gold and silver; possible variations in grade or
recovery rates; failure of equipment or processes to operate as anticipated; the
failure of contracted parties to perform; labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or financing or in
the completion of exploration, as well as those factors disclosed in the
company's publicly filed documents. Although the Company has attempted to
identify important factors that could cause actual actions, events or results to
differ materially from those described in forward-looking information, there may
be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information. Except
as required under applicable securities legislation, the Company undertakes no
obligation to publicly update or revise forward-looking information.