January 21, 2013 at 12:34 PM EST
MGold Announces Shares for Debt Transaction

CALGARY, ALBERTA--(Marketwire - Jan. 21, 2013) - MGold Resources Inc. (TSX VENTURE:MNI) ("MGold" or the "Corporation") announced today that is settled outstanding indebtedness of $40,000 through the issuance of 800,000 common shares of the Corporation at a deemed price of $0.05 per share. The common shares issued in connection with the debt settlement are subject to a four month hold period that expires on May 15, 2013.

MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for minerals. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "MNI".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact:

MGold Resources Inc.

John Squarek

President and Chief Executive Officer

403-388-0969

john.squarek@mgold.ca

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