Manado Announces New Private Placement and Impasse in Negotiations

TSX.V Symbol: MDO

Manado Gold Corp. (the "Company") announces that it has decided not to proceed with its private placement offering announced on July 18, 2013. In its place, the Company plans to offer, on a private placement basis, up to 2,500,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of $125,000 (the "New Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one non-transferable share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one additional Share at a price of $0.05 per Share for a period of three years following the closing date of the New Offering. The proceeds of the New Offering will be used for general working capital purposes. Closing of the proposed New Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.

The Company also announces that it has reached an impasse in its negotiations with Yellowstone Resources Ltd. ("Yellowstone"). The Company does not expect it will be able to conclude negotiations with Yellowstone or that the Company will ever enter into a definitive agreement to acquire any interest in the Sheep Creek, Bayonne, Ymir and Rossland mineral properties located in the Nelson and Trail Mining Divisions, British Columbia.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the Company's securities in the United States.

Manado Gold Corp.

Logan Anderson

President

For further information, please contact:
Logan Anderson
Phone: [phone]
Email: [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.