Medallion Reports Exercise of Warrants for Approximately $400,000

Medallion Resources Ltd (TSX VENTURE:MDL) (OTCQX:MLLOF) (FRANKFURT:MRD)
("Medallion" or the "Company") is pleased to announce the recent exercise of
1,571,000 common-share purchase warrants, resulting in gross proceeds of
$392,750 to Medallion. The warrants were issued as part of the Company's July
2010 financing, entitling the holders to purchase one common share of Medallion
stock at a price of $.25, and expired July 12, 2013. Of the total available
warrants from the July 2010 financing, over 99% have been exercised by their
holders.


About Medallion Resources Ltd

Medallion is rethinking rare earths. Led by Dr Bill Bird and supported by an
experienced technical team, the Company focuses on low-cost, near-term,
rare-earth production opportunities using the rare-earth mineral monazite, which
is available as a by-product from existing mining and mineral-sands sources
principally in the Indian Ocean basin. Medallion, partnered with Takamul
Investment Company, is currently evaluating a proposal to import monazite
feedstock and produce rare-earth products at a proposed processing facility in
the industrial city of Duqm, Oman. Rare earths are used in critical components
for virtually all computing and mobile electronic products, as well as wind
turbines, electric and hybrid vehicles, and strategic defense systems. Medallion
is committed to following best practices and accepted international standards in
all aspects of mining, mineral processing and the safe management of waste
materials. More about Medallion (TSX VENTURE:MDL) (OTCQX:MLLOF) (FRANKFURT:MRD)
can be found at medallionresources.com.


Medallion management has prepared this news release and takes full
responsibility for content. Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Some of the statements contained in this release are forward-looking statements,
such as estimates and statements that describe Medallion's future exploration,
production and financing plans, objectives or goals, including words to the
effect that Medallion or management expects a stated condition or result to
occur. Since forward-looking statements address future events and conditions, by
their very nature, they involve inherent risks and uncertainties. Actual results
in each case could differ materially from those currently anticipated in these
statements. Such risks include expectations that may be raised by discussing
potential business transactions, joint ventures, acquisitions or development
plans, where all conditions to completing them have not been met. There can be
no assurance that any proposed potential business transactions, joint ventures,
acquisitions or development plans, as discussed, will be successfully negotiated
or completed, or that the board of directors of Medallion or potential venture
partners will approve such agreements. Also, in order to proceed with
Medallion's plans, additional funding will be necessary and, depending on market
conditions, this funding may not be forthcoming on a schedule or on terms that
facilitate Medallion's plans. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medallion Resources Ltd.
Donald Lay
President
+1.604.681.9558
info@medallionresources.com
www.medallionresources.com


Hamza Thindal Capital Corp.
Kam Thindal
Partner
+1.888.371.9098
kam@htcapitalcorp.com

Medallion Resources (TSXV:MDL)
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