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Mega Precious Metals Inc. Announces upsizing of Private Placement to up to $5.0 million due to increased demand

June 27, 2014



ENP Newswire - 27 June 2014

Release date- 26062014 - Thunder Bay, Ontario - Mega Precious Metals Inc. (MGP:TSX-V) is pleased to announce that due to demand, it has increased the size of its non-brokered private placement previously announced on June 17, 2014 to gross proceeds of up to $5.0 Million.

Glen Kuntz, President and CEO commented 'Mega is encouraged by the demand from current and new investors. The winter 2014 drill program has been successful at defining high grade near surface gold and tungsten mineralization. We will continue to work to add value to the Monument Bay Gold-Tungsten Project throughout 2014 with the objective of completing ongoing drilling, an updated mineral resource estimate, further metallurgical testing and environmental/engineering studies. We are grateful to have the support of numerous key investors as we continue to develop and de-risk the project'.

The terms of the Offering are units at a price of $0.11 per unit (the 'Non-Flow-Through Units') and flow-through units at a price of $0.12 per flow-through unit (the 'Flow-Through Units). Each Non-Flow-Through Unit will consist of one common share of the Company and one-half of one warrant (each a 'Warrant') to purchase common shares of the Company.

Each Warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.15 until 18 months following the closing date of the Offering. Each Flow-Through Unit will consist of one common share of the Company, which will qualify as a 'flow-through share' within the meaning in the Income Tax Act (Canada) (the 'Tax Act') and one-half of one Warrant.

Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario.

Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.

For further information and presentation material, please review the Mega website at www.megapmi.com

Contact:

Glen Kuntz

President

Mega Precious Metals Inc.

Tel: 807-766-3380

Email: info@megapmi.com

Forward-looking Information

Certain statements in this press release contain information that may constitute forward-looking information under applicable Canadian securities legislation, including but not limited to, information relating to the terms and, the completion of the Offering. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions.

These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, the strength of the global economy, fluctuations in the price of gold and operational, funding and liquidity risks.

Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in the Company's filings which are posted on SEDAR at www.sedar.com. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or to update the reasons why actual results could differ from such information unless required by law.


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Source: ENP Newswire


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