Meadow Bay Closes Final Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 3, 2013) - Meadow Bay Gold Corporation (the "Company") (TSX:MAY)(OTCQX:MAYGF) announces that it has completed a non-brokered private placement of a total of 2,640,475 units for gross proceeds of $528,095. Each unit consists of one common share and one non-transferable common share purchase warrant, with each warrant exercisable for a period of four years from the closing at a price of $0.30 per share in the first and second years, $0.35 in the third year and $0.40 in the fourth year. The securities will be subject to a four-month hold period as required under applicable securities laws.

The total amount of the private placement proceeds, including the first and second tranches that closed on April 29, 2013 and May 31, 2013, respectively, is $1,041,095, representing a total issuance of 5,171,385 units.

The net proceeds of the financing will principally be used to conduct exploration work at Meadow Bay Gold's Atlanta Gold Mine project in Nevada and for general working capital.

In the United States, the Shares were offered and sold pursuant to exemptions from the registration requirements of the United States Securities Act of 1933 (the "1933 Act"). The Shares have not been and will not be registered under the 1933 Act and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the 1933 Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.