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MGold Announces Closing of Financing

Dec 4, 2012

CALGARY, ALBERTA–(Marketwire – Dec. 3, 2012) – MGold Resources Inc. (TSX VENTURE:MNI) (“MGold” or the “Corporation”) advises that it has closed its previously announced financing, subject to final approval from the TSX Venture Exchange. Pursuant to the non-brokered private placement, the Corporation issued 5,500,000 common shares at a price of $0.05 per share for gross proceeds of $275,000. Net proceeds will be used for acquisition or farm-in of producing oil and gas properties and for general corporate purposes. The shares issued in connection with the private placement will be subject to a four month hold period that expires on March 31, 2013.

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