Mahdia Gold Corp Provides Update

Mahdia Gold Corp ("MGC") (CNSX:MGD) is a publicly listed corporation on the
Canadian National Stock Exchange (CNSX) trading under the symbol MGD. MGC's
website can be found at : www.mahdiagold.com. The CNSX website is www.cnsx.ca. 


Mahdia Gold Corp announces that as a result of inadvertently failing to have
sufficient comparables in the interim filings hereinafter listed, that same have
been refiled in order to effect compliance: the interim period ending February
28, 2010; the interim period ending May 31st, 2010; the interim; period ending
November 30th, 2010; the interim period ended February 28th, 2011; and the
interim period ended May 31st, 2011. 


The filing of annual audited statements was delayed and as a result MGC
requested additional time to file and was granted an extension. MGC subsequently
filed its statements on January 6th, 2012 and paid late filing fee costs
associated thereto. 


MGC has undertaken to ensure that all future disclosures, interim and annual
financial statements and associated documentation are filed in a timely fashion.
In order to assist and confirm same MGC will be entering into contracts with the
appropriate professionals and agencies forthwith Confirmation of these contracts
will be disclosed as completed. 


MGC wishes to announce at this time that Jayson Schwarz LL.M., Barrister and
Solicitor of Schwarz Law LLP has been retained as transactional counsel to
assist MGC in achieving success in this process. 


Management has been informed by CNSX Markets Inc (the "Exchange") that the
Company is currently in default of certain of the reporting requirements of a
CNSX Listed Company. As stated above Management is working with the Exchange to
rectify the existing disclosure record, and anticipates that the Exchange may
impose additional requirements as a condition of continued listing. 


Mahdia Gold Corp currently has 108,304,520 shares outstanding.