MNI Tanager Energy, Inc.

NOT FOR DISSEMINATION IN THE UNITED STATES

MGold Resources Inc. ("MGold" or the "Corporation") (TSX VENTURE:MNI) advises
that it has extended the deadline for its previously announced financing to
November 30, 2012, subject to approval from the TSX Venture Exchange. The
previously announced non-brokered private placement will sell a minimum of
4,000,000 and a maximum of up to 10,000,000 common shares ("Common Shares") by
way of non-brokered private placement to raise gross proceeds for the
Corporation of between $200,000 and $500,000 (the "Private Placement"). Net
proceeds from the Private Placement will be used for acquisition or farm-in of
producing oil and gas properties and for general corporate purposes.


The Private Placement is non-brokered, but the Corporation may pay a finder's
fee of up to 7% in cash or shares to arm's length parties who assist with the
placement of Common Shares. The Private Placement is now scheduled to close on
or about November 30, 2012 and is subject to normal approvals by the TSX Venture
Exchange.


MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the
exploration for minerals. The Corporation's common shares are listed on the TSX
Venture Exchange under the trading symbol "MNI". 


CAUTION REGARDING FORWARD LOOKING STATEMENTS

Certain statements contained herein constitute forward-looking statements. Such
forward-looking statements are subject to both known and unknown risks and
uncertainties which may cause the actual results, performances or achievements
of the Corporation to be materially different from any future results,
performances or achievements expressed or implied by such forward-looking
statements. Except as required by law, the Corporation does not undertake any
obligation to publicly update or revise any forward-looking statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
MGold Resources Inc.
John Squarek
President and Chief Executive Officer
403-388-0969
john.squarek@mgold.ca

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