Mill City Announces US$40 Million Financing

MILL CITY GOLD CORP. ("Mill City" and/or the "Company") (TSX
VENTURE:MC)(OTCBB:MCYGF)(FRANKFURT:NJ6) announced today that it is undertaking a
private placement (the "Offering") to raise up to US$40 million through the sale
of up to 80 million units (the "Units") at a price of US$0.50 per Unit. Each
Unit will be comprised of one common share of the Company and one-half of one
common share purchase warrant (each such whole warrant, a "Warrant"). Each
Warrant will be exercisable to purchase one common share of the Company for a
period of 1 year from closing at an exercise price of US$2.50 per share.


Mill City has received written communication from Barclays Bank PLC, Singapore
("Barclays"), that it is prepared to act as agent in connection with the
Offering on a best efforts basis and the Company anticipates entering into a
written agreement with Barclays in the near future.


Proceeds of the Offering will be used to finance the purchase of up to a 75%
working interest in the North East Tanjung Block (as previously announced by the
Company on February 13, 2014) (the "Purchase") and for general working capital
purposes. 


The Offering is subject to certain conditions including, but not limited to, the
receipt of all necessary approvals. In addition, the Offering, together with the
Purchase, may be considered a "reverse takeover" under the policies of the TSX
Venture Exchange and subject to certain additional closing conditions. 


About Mill City Gold Corp.

Mill City Gold Corp. is a TSX Venture Exchange listed exploration company that
is focused on identifying and acquiring advanced precious metals, uranium and
hydrocarbon projects in the most favorable jurisdictions around the world. For
further information please visit the Company's website at www.millcitygold.com.


ON BEHALF OF THE BOARD OF DIRECTORS 

James R. Brown, Chairman, President & CEO

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


Caution Concerning Forward-Looking Statements

This news release contains "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements relating to the plans for completion
of the acquisition of an interest in the North East Tanjung Block project, for
entering into a definitive agreement in respect of such acquisition; the terms
of the proposed Offering and the potential involvement of Barclays in the
Offering; timing, availability and amount of financing; expected use of
proceeds; business objectives; and the potential success of the foregoing. In
disclosing forward-looking information in this news release, the Company has
applied several material assumptions, including, but not limited to: that the
Offering will be completed on the terms disclosed in this news release; that
certain of the Company's key objectives will proceed and can be completed at the
cost and within the timing expected; that general business and economic
conditions will not change in a materially adverse manner and that all necessary
approvals will be obtained in a timely manner and on acceptable terms. Forward
looking information includes statements that are not historical facts and are
subject to a variety of risks and uncertainties which could cause actual events
or results to differ materially from those reflected in such statements,
including, without limitation: the risk that the Purchase and/or the Offering,
will not be approved by the TSX Venture Exchange; risks and uncertainties
related to the Purchase, Offering and any related transaction(s) not being
completed in the event that the conditions precedent thereto are not satisfied;
uncertainties related to raising sufficient financing to fund the planned work
in a timely manner and on acceptable terms. Forward-looking statements contained
in this release are based on the beliefs, estimates, and opinions of management
on the date the statements are made. There can be no assurance that such
statements will prove accurate. Actual results may differ materially from those
anticipated or projected. Mill City undertakes no obligation to update these
forward-looking statements if management's beliefs, estimates, opinions, or
other factors, should change.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mill City Gold Corp.
James R. Brown
Chairman, President & CEO
403-640-0110
www.millcitygold.com