CALGARY, ALBERTA--(Marketwire - Sept. 5, 2012) - John Squarek, President and CEO of MGold Resources Inc. ("MGold" or the "Corpration") (TSX VENTURE:MNI) announced today that he has acquired 4,750,000 common shares of MGold at a price of $0.03 per share pursuant to a private transaction. Following the completion of the transaction, Mr. Squarek will own or control 5,050,000 common shares or approximately 14% of the total issued and outstanding common shares of MGold. The purchase of the shares by Mr. Squarek was made for investment purposes. Mr. Squarek may increase or decrease his investment in MGold depending on market conditions or any other relevant factors.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the 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.

Contact Information:

MGold Resources Inc.
Mr. John Squarek, P.Eng, MBA
President & Chief Executive Officer
(403) 388-0969