CALGARY, ALBERTA--(Marketwired - April 9, 2013) - MGold Resources Inc. (TSX VENTURE:MNI) ("MGold" or the "Corporation") announced today that the participation agreement previously announced on November 12, 2012, has been terminated on the basis that a condition of the agreement was not satisfied. The project partner did not obtain the required working interest in the property and therefore MGold will not participate in the re-entry or the placing on production of the Devonian D-3 well.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as the 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.
John Squarek
President and Chief Executive Officer