MGold Announces Financing

MGold Resources Inc. (TSX VENTURE:MNI) ("MGold" or the "Corporation") advises
that it has completed a $125,000 financing through a Note payable to John E
Squarek, a director, President and CEO of MGold Resources Inc. The Note payable
is for 1 year with interest at 12 percent per annum payable monthly.


MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the
exploration for petroleum and natural gas. 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 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: 
MGold Resources Inc.
John Squarek
President and Chief Executive Officer
403-388-0969
john.squarek@mgold.ca

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