Medgold Amends Warrants

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 13, 2013) - Medgold Resources Corp. (TSX VENTURE:MED) announces that its Board of Directors has determined that it is in the best interests of the Company to amend the exercise price of private placement warrants issued earlier this year. Accordingly, subject to TSX Venture Exchange acceptance, the exercise price of outstanding warrants entitling the holders to purchase a total of 6,500,000 shares has been reduced from $0.15 per share to $0.06 per share.

The expiry date of these warrants remain unchanged. If, however, at any time the closing price of the Company's common shares on the TSX Venture Exchange over any period of 10 consecutive trading days exceeds $0.075, the amended warrants will expire early, namely, on the date which is 37 calendar days following such 10-day trading period.

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.