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Mahdia Gold Corp (CNSX:MGD) Announces Appointment of New CEO

TORONTO, ONTARIO -- (Marketwire) -- 11/22/12 -- The board of directors of Mahdia Gold Corp. (CNSX:MGD) ("Mahdia" or the "Company") is pleased to announce that as part of its long-term strategic plan, Mr. Gorden Glenn has been appointed as Chief Executive Officer of the Company effective immediately. Mr. Glenn succeeds Mr. Alan Zaakir, who has served as the Chief Executive Officer of the Company since October 23, 2003, and continues to serve as co-chair of the board of directors.

Mr. Glenn has over 20 years of mining, exploration and investment banking experience. Currently the interim president and chief executive officer of Auriga Gold Corp., Mr. Glenn served as chief executive officer and a director of AMR Mineral Metal Inc. between December 2011 and April 2012. Between August 2010 and December 2011, Mr. Glenn was the Managing Director of Mining Investment Banking for Desjardins Securities. Prior to that, Mr. Glenn was the Vice-President and Director of Mining Investment Banking at TD Securities. Holding a BSc in Geological Sciences from Queen's University in Kingston, Ontario, he started his career as a geologist with Inmet Mining and Kennecott Canada Inc. before switching to the capital markets, where he worked as a mining analyst prior to joining TD Securities in 2005. Mr. Glenn is currently a member of the board of directors of Entree Gold Inc., Source Exploration Corp., Geodex Minerals Ltd., and Auriga Gold Corp.

Alan Zaakir, on behalf of the board, stated, "We are excited to bring Gorden Glenn on as the Company's next CEO. As an accomplished executive with geological expertise and extensive experience in finance, capital markets, corporate strategy, and investor relations, Mr. Glenn is uniquely qualified to help achieve the Company's strategic objectives."

Mr Glenn said, "Mahdia's Omai gold project represents a unique gold development opportunity. The project has a remarkable production history with a substantial asset base. I am extremely excited about assisting the Company in realizing on its potential and significantly enhancing shareholder value."

About Mahdia Gold Corp.

Mahdia is a Canadian-based gold exploration company with active gold prospects in Guyana.

Forward-Looking Statements

Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.

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

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