Mega Precious Metals and Red Sucker Lake First Nation Sign Memorandum of Understanding

Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega" or the "Company") and Red
Sucker Lake First Nation ("RSLFN"), are pleased to announce the signing of a
Memorandum of Understanding ("MOU") which was formally executed at a signing
ceremony within the community. 


The MOU reflects each parties commitment and support to advancing the Monument
Bay project, includes the removal of the court injunction of July 4, 2013,
economic development opportunities, continued environmental monitoring,
increased communication with the community and community support of the
development of the Monument Bay Project. The MOU will be in place for a period
of two years subject to compliance of both parties. To assist in the growth of
the partnership between Mega and Red Sucker Lake First Nation, the parties will
utilize a community liaison officer (RSLFN) and a community engagement
coordinator (Mega) to facilitate communications which will include discussions
such as the redirection of funds currently held in trust towards the support of
economic development activities in support of further project development.


"We, Red Sucker Lake First Nation, realize that this is an important date in
moving forward in good faith, meaning that we remain and maintain an
understanding so that all parties will prosper. 


Through transparency, we appreciate both parties, Mega and the Provincial
government, for coming to our community to sign the MOU. 


Through signing the MOU we can come to a mutual understanding with our
environmental concerns and voicing our communities concerns. 


We thank Mega and the Provincial government for having confidence in our people
and to moving forward. This is only the beginning and we believe that all
parties will continue to have open dialogue so we can all benefit and move
forward." stated Chief and Council. 


"Mega is pleased with the MOU and continued dialogue with the Chief, Council and
community of Red Sucker Lake First Nation. Mega recognizes the value that local
communities bring to project development and remains committed to engaging local
communities. We look forward to working together in partnership to bring social
and economic prosperity to the region. We would like to express our gratitude to
the Chief, Councillors, elders and community members for having faith in Mega
and inviting us to be a part in helping to build that trust through mutual
respect and understanding of each of our perspectives and interests." stated
Glen Kuntz, President & CEO at the signing ceremony. 


The Monument Bay Project, Mega Precious Metals Inc.'s, most advanced project, is
located 570 km northeast of Winnipeg and 340 km east southeast of Thompson,
Manitoba. The nearest community is Red Sucker Lake First Nation, 52km to the
southwest. Mega has invested over $2.8 million into local communities.
Approximately 60% of Mega's workforce is comprised of local First Nation and
Metis (as of June 2014). 


Mega Precious Metals Inc. is a leading Canadian-based exploration company with a
high quality pipeline of projects located in the mining friendly jurisdictions
of Manitoba, Northwestern Ontario and Nunavut. The Company's significant
portfolio includes the flagship Monument Bay Gold Tungsten Project in NE
Manitoba as well as the N. Madsen Gold Project in the prolific gold mining
district of Red Lake, Ontario. Mega has established a record of delivering rapid
growth through their focused and low cost approach to exploration and resource
development. The Company's common shares trade on the TSX Venture Exchange under
the symbol MGP.


For further information and presentation material, please review the Mega
website at www.megapmi.com. 


Forward-looking Statements

Certain statements in this press release relating to the Company's exploration
activities, project expenditures and business plans are "forward-looking
statements" within the meaning of securities legislation. The Company does not
intend, and does not assume any obligation, to update these forward-looking
statements. These forward-looking statements represent management's best
judgment based on current facts and assumptions that management considers
reasonable. The Company makes no representation that reasonable business people
in possession of the same information would reach the same conclusions.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. In
particular, fluctuations in the price of gold or in currency markets could
prevent the Company from achieving its targets. Readers should not place undue
reliance on forward-looking statements. 


More information about risks and uncertainties affecting the Company and its
business is available in Mega Precious Metal's filings which are posted on sedar
at www.sedar.com.


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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mega Precious Metals Inc.
Glen Kuntz, P.Geo.
President, Chief Executive Officer & Director
O: 807-766-3380
TF: 877-592-3380
[e-mail]