President and CEO of MGold Announces Share Acquisition

John Squarek, President and CEO of MGold Resources Inc. ("MGold" or the
"Corpration") (TSX VENTURE:MNI) announced today that he has acquired 4,750,000
common shares of MGold at a price of $0.03 per share pursuant to a private
transaction. Following the completion of the transaction, Mr. Squarek will own
or control 5,050,000 common shares or approximately 14% of the total issued and
outstanding common shares of MGold. The purchase of the shares by Mr. Squarek
was made for investment purposes. Mr. Squarek may increase or decrease his
investment in MGold depending on market conditions or any other relevant
factors.


This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove to be
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used to
develop such forward-looking information and a description of risk factors that
may cause actual results to differ materially from forward-looking information
can be found in the company's disclosure documents on the SEDAR website at
www.sedar.com. The company does not undertake to update any forward-looking
information except in accordance with applicable securities laws.