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Major Gold-Antimony Target Defined At Pietratonda, Italy

A total of 273 samples were collected from this phase (including 49 quality control (QC) samples), with 27% of samples (excluding QC samples) yielding greater than 0.1 g/t Au and an average grade of all samples of 0.125 g/t Au. Gold results varied from below detection up to highs of 2.43, 1.21 and 1.07 g/t, and antimony from 1.78 ppm to 15 samples above 1%, with highs of 5.17, 7.08 and 8.42 percent.  Gold and antimony define a coincident anomaly over 600 by 200 metres.  Arsenic and mercury are also strongly anomalous, with highs of 0.51, 0.14 and 0.10 percent As, and 104.5, 69.2 and 47.4 ppm Hg, both of which showing a good correlation with gold, and thus highlighting their use as pathfinder elements.  A sample map and table of results are available on Medgold's website at http://www.medgoldresources.com/medgold-italy-mining.asp.

These results are considered to represent a distal zone of mineralization associated with a high-grade and high-angle structural feeder-zone, which is commonly found in Carlin-type deposits. Vector analysis of the geochemistry highlights a strong increase in Au-Sb anomalism toward the inferred high-angle feeder faults. These represent clear exploration drill targets where Au-Sb grades are expected to increase with depth.

The next phase of work will involve a limited induced polarization (IP) geophysical study, to aid in the better definition of drill targets and the possible identification of high-angle faults associated with jasperoids and expected pyrite-stibnite mineralization at depth.  This will be carried out in the second half of 2013. A drill program is planned for early 2014 once all the necessary permits have been received.

Quality Assurance and Quality Control (QA-QC)

The samples were prepared and analyzed for gold by fire assay with atomic adsorption finish by ALS Minerals at the Rosia Montana Laboratory, Romania.  Multielements were analyzed by inductively coupled plasma mass spectrometer (ICP-MS) and inductively coupled plasma emission spectrometer (ICP-AES) on a sample split sent to the ALS Minerals laboratory in Vancouver.  Blank, certified standard reference materials, and field and laboratory duplicates were routinely inserted for quality assurance and quality control.

Qualified Person

Dr. Stewart D. Redwood, Consulting Geologist to the Company, is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.  Dr. Redwood has reviewed and approved the technical information contained in this news release.

About Medgold

Medgold is aiming to become the leading Mediterranean-focused gold exploration and project development company, with an extensive pipeline of projects across Portugal, Italy and Spain, targeting economically stressed, but politically stable European countries that are seeking foreign investment to invigorate the mining sector.

Additional information on Medgold can be found on the Company's website at www.medgoldresources.com and by reviewing the Company's page on SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD

Stock quotes in this article: MED 

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