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Medgold Appoints Director &Technical Advisors; Grants Options

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/24/14 -- Medgold Resources Corp. (TSX VENTURE: MED), the European focused gold exploration company, is pleased to announce that Mr. Brent Cook and Mr. Michael Skead have agreed to join Medgold's technical advisory committee. Mr. Skead has also been appointed to Medgold's Board of Directors.

Dan James, the President of Medgold, said: "I'm delighted that Michael and Brent have agreed to join our technical advisory committee and I'm also looking forward to working with Michael on the Board of Directors. They have a wealth of experience gained from critically examining hundreds of mineral properties, in many different geological settings, around the world. I'm looking forward to their practical hands-on advice as we advance our Portuguese and Spanish project portfolio."

Michael Skead

Mr. Skead, a geologist by training, currently serves as Vice President Project Evaluation for Dundee Resources. As a professional geologist and consultant, he has extensive exploration experience in Africa, including the DRC where he was Vice President Exploration for Banro Corporation and led all of its exploration activities including advancing its projects to the feasibility stage. Prior to Banro, Mr. Skead was the Exploration Manager for SAMAX Gold and was responsible for the discoveries of the Kukuluma and Matandani gold deposits in the Geita Greenstone Belt in Tanzania. Subsequent to these discoveries, SAMAX was acquired by Ashanti Goldfields in 1998. The two deposits were brought into production as the Geita Mine, which is currently the largest open pit mining in East Africa. Mr. Skead subsequently served as the Exploration Manager for Ashanti Goldfields until 2001.

Mr. Skead has also worked on mineral exploration projects in the USA, Canada, Mexico, Namibia and Indonesia. He holds a M.Sc. in Exploration Geology, and is a member of the Australian Institute of Mining and Metallurgy, The South African Council for Natural Scientific Professions, the Geological Society of South Africa and the Society of Economic Geologists.

Brent Cook

Mr. Cook is an economic geologist who has been involved in the mineral exploration and mining business for 32 years. During this time he has evaluated and valued grassroots through feasibility stage mineral projects in over 60 countries and lived in Australia, Antigua, Brazil, Costa Rica and the Western US. In 1997 he joined Sprott-Global Resource Investments where he was a principal mining analyst until 2002. Since then, he has been an independent analyst and advisor to several investment funds and high net worth individuals. He is author of the investment letter Exploration Insights, which covers select investment opportunities in the junior exploration and mining sector.

Incentive Stock Options

Medgold has granted incentive stock options to its directors, officers, employees and consultants to purchase up to a total of 3,255,000 shares of Medgold exercisable for ten years at a price of $0.15 per share.

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

Daniel P. James, President & 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.

Contacts:
Medgold Resources Corp.
Ralph Rushton (Vancouver)
Investor Relations
+1 604-801-5432
[email protected]

Medgold Resources Corp.
Dan James (UK and Portugal)
President
+44 (0) 7972 579188
[email protected]

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