MED Medgold Resources Corp

Medgold Resources Corp. (TSX VENTURE:MED) announces that its Board of Directors
has determined that it is in the best interests of the Company to amend the
exercise price of private placement warrants issued earlier this year.
Accordingly, subject to TSX Venture Exchange acceptance, the exercise price of
outstanding warrants entitling the holders to purchase a total of 6,500,000
shares has been reduced from $0.15 per share to $0.06 per share.


The expiry date of these warrants remain unchanged. If, however, at any time the
closing price of the Company's common shares on the TSX Venture Exchange over
any period of 10 consecutive trading days exceeds $0.075, the amended warrants
will expire early, namely, on the date which is 37 calendar days following such
10-day trading period.


About Medgold

Medgold is aiming to become the leading Mediterranean-focused gold exploration
and project development company, with an extensive portfolio and 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

Ralph Rushton, Director

Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or accuracy of
this release.


Forward-looking statements

This press release may contain forward-looking statements including, but not
limited to, comments regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential mineral
recovery processes, and other related matters. Forward-looking statements
address future events and conditions and therefore involve inherent risks and
uncertainties. Medgold's projects in Europe are at an early stage and all
estimates and projections are based on limited, and possibly incomplete, data.
More work is required before the mineralization and the projects' economic
aspects can be confidently modelled. Actual results may differ materially from
those currently anticipated in this news release. No representation or
prediction is intended as to the results of future work, nor can there be any
promise that the estimates and projections herein will be sustained in future
work or that the projects will otherwise prove to be economic.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medgold Resources Corp.
Ralph Rushton (Vancouver)
Investor Relations
+1 604-801-5432
ralphr@goldgroup.com


Medgold Resources Corp.
Dan James (London)
President
+44 (0) 7972 579188
dj@medgoldresources.com
www.Medgoldresources.com

Grafico Azioni Medgold Resources (TSXV:MED)
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