At the Rei prospect historic sampling reported by Redcorp returned grades of 24.72 g/t, 22.85 g/t and 19.24 g/t Au from a linear zone trending over 3.7 km. (Medgold has not independently verified these results, and the reader is cautioned that they are historic in nature and as such cannot be relied upon). Medgold collected a total of 40 rock grab samples from the Rei prospect and has identified a new zone of silica-hematite mineralization, located 500 m to the north of Redcorp's linear anomaly, covering an area of approximately 600 by 400 m, and yielded results from below detection up to 1.14 g/t, 0.84 g/t and 0.81 g/t Au.
Further work will continue in Q3 2013 and will focus on the detailed mapping and channel sampling of the silica ribs with the aim of defining potential drill targets.
Quality Assurance and Quality Control (QA-QC)
The samples were prepared by ALS Minerals at the Seville Laboratory, Spain. Samples were analysed for gold by fire assay with atomic adsorption finish by ALS Minerals at the Rosia Montana Laboratory, Romania. Multi-elements were analyzed by inductively coupled plasma mass spectrometer (ICP-MS) and inductively coupled plasma emission spectrometer (ICP-AES) on a sample split sent to the ALS Minerals laboratory in Vancouver. Certified standard reference materials, blanks and field and laboratory duplicates were routinely inserted for quality assurance and quality control.
Dr. Stewart D. Redwood, Consulting Geologist to the Company, is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure or Mineral Projects. Dr. Redwood has reviewed and approved the technical information contained in this news release.
Medgold is aiming to become the leading Mediterranean-focused gold exploration and project development company, with an extensive 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
This news 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 Resources' 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.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Medgold Resources Corp.
Ralph Rushton (Vancouver)
Medgold Resources Corp.
Dan James (London)
+44 (0) 207 305 7050 / +44 (0) 7972 579188
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