Significant New Zone of Gold Mineralization Identified at Boticas, Portugal

Medgold Resources Corp. (TSX VENTURE:MED), the European focused gold exploration
company, is pleased to announce that recent sampling at its wholly-owned Boticas
project has identified a significant new zone of gold mineralization called
Limarinho South. 


Recent sampling at the new zone returned sample results from 0.05 g/t Au up to
6.55 g/t Au in 14 rock samples. Selective grab samples gave grades of 6.55 g/t,
4.98 g/t and 0.15 g/t Au, and a channel-chip sample yielded a length-weighted
average of 10.8m at 1.01 g/t Au (true width uncertain). These are in addition to
the selective vein sampling results of 0.24 to 13.1 g/t Au reported in Medgold's
1st August, 2013 press release
(http://www.medgoldresources.com/images/content/Aug1.pdf). Together these
results outline a new zone, Limarinho South, which is approximately 350m by
250m, elongated north-south, located 200m-300m to the southeast of the existing
Limarinho gold anomaly. 


Limarinho South was discovered by applying a new structural concept of repeating
en echelon zones controlled by, and hosted within, major faults. Medgold
geologists subsequently identified and mapped several favorable structural
targets, including the Limarinho South zone. Importantly, the new results have
confirmed the validity new structural interpretation which will be used to
explore for and sample additional targets.


Dan James, the President of Medgold, said, "These are encouraging new results,
adding significant areal extent to the Limarinho prospect, which we believe has
potential to host a major resource. The new work is proving that our exploration
approach to the area is correct. The newly defined area of alteration and
high-grade mineralization has expanded the combined width of the known zones to
over 600m, and highlights the importance of understanding the structural
controls to the system. Our field teams continue to explore more untested
anomalies to the northeast of Limarinho and we hope to generate more drill
targets ahead of a drill program planned for late 2013."


The Boticas Gold Project

The Boticas gold project is located in northern Portugal between the towns of
Boticas and Chaves. Prof. Jim Mortensen, from the University of British
Colombia, an expert in orogenic gold deposits, recently visited the project with
Medgold, and presented a number of new ideas on the controls of mineralization
which helped toward the targeting of new zones in the vicinity of Limarinho.


In addition to the new field investigations, the Medgold geologists have
reviewed the historical drilling data collected in the 1980's by COGEMA and the
early 2000's by Kernow Resources & Developments Ltd. Medgold recalculated the
intersections and identified higher grade zones in the system (length-weighted
averages were calculated using a top cut of 20 g/t). These are as follows:




--  KL4 20.4 m @ 2.92 g/t Au from 20.7 m, and 9.05 m @ 3.37 g/t Au from
    145.0 m 
--  PF3 19.7 m @ 2.80 g/t Au from 32.3 m 
--  PF11 12.1 m @ 2.98 g/t Au from 51.1 m 
--  PF17 13.5 m @ 2.17 g/t Au from 65.7 m 
--  PF8 10.0 m @ 1.37 g/t Au from 86.2 m



These zones of higher grade intersections are located as significant 'pods'
within a much larger envelope of approx. 1 g/t Au mineralization.


A total of 3,234 metres of diamond drilling was completed in 26 holes by these
two companies. These are historical data provided for information purposes and
Medgold has not completed sufficient work to verify these results.


The Boticas Program

Future work at Boticas will focus on more detailed sampling at Limarinho South,
to define clear drill targets, which will include channel-chip sampling. Our
primary objective at Boticas is to carry out a drill program in 2013, targeting
the high-grade zones at Limarinho and test for extensions of the mineralization
to the northeast and southwest. 


Quality Assurance and Quality Control (QA-QC)

Medgold's samples were prepared by ALS Minerals at the Seville Laboratory,
Spain. Samples were analyzed 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 reference materials
(CRM's), blanks and field and laboratory duplicates were routinely inserted for
quality assurance and quality control.


Qualified Person 

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. 


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

Ralph Rushton, 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Investor Relations
Ralph Rushton (Vancouver)
ralphr@goldgroup.com
+1 604-801-5432


President
Dan James (London)
dj@medgoldresources.com
+44 (0) 7972 579188
Medgold Resources (TSXV:MED)
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