Medallion Resources Announces the Passing of Director and Former CEO Don Lay

Medallion Resources Ltd. (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion” or the “Company”)

, advises that Mr. Don Lay, Director, VP Corporate Development and Former CEO of the Company, passed away unexpectedly this weekend. Mr. Lay was a strong voice in the industry and CEO of Medallion from 2014 until May 2020.

Rod McKeen, Chairman of the Board, said, “It is with tremendous sadness that we share the passing of our colleague and friend Don Lay. Don was the strength and drive behind Medallion for many years, and laid the groundwork for the Company. He will be greatly missed.”

The Board of Medallion would like to extend their sincerest condolences to Don’s family at this difficult time.

For more information please contact CEO Mark Saxon at [e-mail].

About Medallion Resources

Medallion Resources has developed a proprietary process and related business model to achieve low-cost, near-term, rare-earth element (REE) production by exploiting monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand mining operations. Furthermore, Medallion has recently licensed an innovative REE separation technology from Purdue University which can be utilized by Medallion and sub-licensed by Medallion to third party REE producers.

More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO +1.604.681.9558 or [e-mail]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.