Medallion Resources Ltd (MDL) Noticias

Well they will move on on their two long term exploration projects at Eden Lake & Red Wine any good future results will get the speculation wheels going again but I'm looking forward that they officially start doing some drilling.

Guess everyone is waiting for the big news about their joint venture propects in becoming a producer & leap most of the others with the only exceptions being MolyCorp & Lynas in my opinion.

It can be done via a JV(s) with some current iron ore producers in South America picking their tailing wastes & process the REE that is contained all surface & low cost plus a benefit to all in cleaning up the environment at the same time, win win win for all.

PS Bill Bird as proven track record as a geologist & being the former Rare Elements Earth CEO.

As always always do your own due diligence.

Regards & good luck to all,
Marc

New Medallion Resources board: MLLOF.PK

Take a look


http://investorshub.advfn.com/boards/board.aspx?board_id=18713

http://rareearthinvestingnews.com/rare-earth-company-news/665/medallion-resources-reports-eden-ree-results

http://rareearthinvestingnews.com/rare-earth-stocks/445/medallion-focused-on-rare-earth-exploration

http://thenewswire.ca/archives?tnwarchive2=release_id%3D1063

Medallion Files Technical Report on Romaine Iron-Titanium Project

Tuesday March 24, 2009, 9:30 am EDT

http://finance.yahoo.com/news/Medallion-Files-Technical-cnw-14726898.html

VANCOUVER, March 24 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announced today that it has filed on SEDAR (www.sedar.com) a technical report (the "Technical Report") prepared in accordance with National Instrument 43-101 ("NI43-101").(x) The Technical Report recognizes the Romaine Iron-Titanium Project as one of significant merit and recommends a core-hole drill program to advance the project and to add a third dimension to the 2008 geological and sampling data.

The Technical Report fulfills one of the criteria required by the TSX Venture Exchange for acceptance of the Company's Romaine Iron-Titanium Project acquisition transaction, which grants Medallion an option to acquire 100% of the 60 iron-titanium claims (covering 23.5 square kilometres) that lie 40 kilometres north of Havre-Saint-Pierre, Quebec.

The Technical Report concludes that fall 2008 mapping and sampling program conducted as part of Medallion's due-diligence investigation, confirms the location and expands the surface area of the mineralization that has been historically estimated to contain a resource of 234 million tonnes grading 10.8% titanium oxide (TiO(2)) and 17.9% iron.(xx) The fall 2008 samples were assayed at SGS Lakefield, which determined that the historical resource estimate used an incorrect assay procedure. For Medallion's fall 2008 surface samples, SGS Lakefield used the industry-standard assay procedure that subsequently returned titanium-oxide grades approximately 25% higher than those of the historical resource estimate. A similar iron trend is apparent but cannot be confirmed without a more detailed analyses of the iron-titanium minerals.

To address the financing requirement for, and meet the TSX Venture Exchange's final criterion for approval of the property acquisition, the Company has engaged Jordan Capital Markets Inc as an exclusive agent to raise up to $2 million in equity capital as reported 27 February 2009. The use of proceeds of the proposed financing include drilling to provide data required for a NI43-101-compliant resource estimate, which the Company anticipates to complete during the coming year.


(x) Technical Report on the Romaine Iron-Titanium Project, Lac Puyjalon
Region, Quebec", dated 25 February 2009. The Technical Report was
prepared by Eric Hurtubise, PGeo (OGQ No.912), and an Independent
Qualified Person as defined by NI 43-101.

(xx) The historical resource estimate and the Romaine property reports
supporting the estimate were prepared before the introduction of
NI 43-101. They may not be relied upon until they are confirmed
using methods and standards that comply with those required by
NI 43-101. The potential for the Romaine Property mineralization to
replicate the historical resource estimate, or for new data to
expand its tonnage and grade, is conceptual and is based on
historical reports and field observations, which cite approximate
lengths, widths, depths, grades, metallurgical test work and
projections of the historical resource. Investors are cautioned that
a qualified person has not yet completed sufficient exploration,
test work or examination of past work to define a resource that is
currently compliant with NI 43-101. The Company further cautions
that there is a risk that exploration and test work will not result
in the delineation of such a currently compliant resource. Neither
the Company nor its personnel treat the historical resource estimate
or the historical data as defining a current mineral resource, as
defined under NI 43-101, nor do they rely upon the estimate or the
data for evaluation purposes; however, these data are considered
relevant and will be used to guide exploration as the Company
develops new data to support a current mineral-resource estimate in
accordance with the requirements of NI 43-101.

ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo

President & CEO
William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in NI 43-101. Company Management, which takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

For further information

check the website www.medallionresources.com or contact David Fry, (888) 827-6611, e-mail: mdlcorpcom@shaw.ca

Ocelot Property Returned to Vendors

13 March 2009

Vancouver, BC – Medallion Resources Ltd (“Medallion” or the “Company” - TSX.V: MDL) announces that it has terminated its rights and returned the Ocelot, Nevada, gold-exploration property to the vendors. With present market conditions, the Company’s Romaine Iron-Titanium Project, which is in a more advanced state and offers greater potential value to shareholders, must take funding precedence. Medallion will continue to focus on the advancement of the Romaine Project to build shareholder value.

Medallion’s Romaine Iron-Titanium Project

The Romaine Iron-Titanium Project, located 40 kilometres north of Havre-Saint-Pierre, Quebec, is centred on a historical resource estimated to be 234 million tonnes grading 10.8% titanium oxide (TiO2) and 17.9% iron.* Area infrastructure includes nearby roads, rail, hydroelectric power and a deepwater port on the Gulf of St Lawrence. The Province of Quebec is one of the top mining jurisdictions in the world, with a government and a mining culture that provides significant support to the mining industry.

Medallion’s fall field mapping program indicates a potential to increase the historical tonnage. The mapping expanded the outcrop area of iron-titanium mineralization to a total length of over three kilometres and a width that ranges from 200 metres to 460 metres. The mineralization remains open along strike and down dip.

Fall field program sampling, along with information from the 1960’s and 1970’s, suggests that there also is good potential for increasing the grade over that which was reported for the historical resource.* Assays of 67 surface-core samples, collected systematically along the full length of the main body of mineralization, average 13.66% titanium oxide (TiO2) and 30.39% iron oxide (Fe2O3). These averages represent a significant increase over those of the historical resource, which are 10.8% titanium oxide (TiO2) and 17.9% iron (17.9% iron is approximately 26.5% Fe2O3).*

The Romaine Project minerals are hematite (Fe2O3) and ilmenite (FeTiO3), which also are the minerals mined at the nearby QIT mine. Rio Tinto’s QIT mine, with a roughly 50-million- tonne reserve (as of 2007) three kilometres to the west, is a leading producer of high-quality titanium and steel products and it is presently the largest iron-titanium mine of its type in the world.

* The historical resource estimate and the Romaine property reports supporting the estimate were prepared before the introduction of NI 43-101. They may not be relied upon until they are confirmed using methods and standards that comply with those required by NI 43-101. The potential for the Romaine Property mineralization to replicate the historical resource estimate, or for new data to expand its tonnage and grade, is conceptual and is based on historical reports and field observations, which cite approximate lengths, widths, depths, grades, metallurgical test work and projections of the historical resource. Investors are cautioned that a qualified person has not yet completed sufficient exploration, test work or examination of past work to define a resource that is currently compliant with NI 43 -101. The Company further cautions that there is a risk that exploration and test work will not result in the delineation of such a currently compliant resource. Neither the Company nor its personnel treat the historical resource estimate or the historical data as defining a current mineral resource, as defined under NI 43-101, nor do they rely upon the estimate or the data for evaluation purposes; however, these data are considered relevant and will be used to guide exploration as the Company develops new data to support a current mineral-resource estimate in accordance with the requirements of NI 43-101.


ON BEHALF OF THE BOARD OF DIRECTORS

“William H Bird”, PhD, PGeo

President & CEO

For Further Information, check the website www.medallionresources.com or contact
David Fry (888) 827-6611, dfry@medallionresources.com

William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in NI 43-101. Company Management, which takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company’s future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company’s projects to other projects. Also, in order to proceed with the Company’s exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company’s plans.

China's spending spree likely to include Canadian companies

By Duncan Mavin, Financial Post

March 5, 2009

http://www.canada.com/story_print.html?id=1352443&sponsor=


Labourers work at a pump jack in the PetroChina's Karamay oil field in northwestern China's Xinjiang Uigur Autonomous Region. Chinese resource spending spree is expected to accelerate throughout the next 12 months, with Canadian mining and energy companies likely on the shopping list.
Photograph by: Reuters, Reuters

HONG KONG — Asia’s dealmakers say a Chinese resource spending spree will accelerate throughout the next 12 months, with Canadian mining and energy companies likely on the shopping list.

Chinese buyers have already scooped up US$70-billion worth of global resource assets so far this year, as Beijing looks to secure its energy and resource future by spending some of its US$2-trillion in foreign exchange reserves.

The overseas buying trend will pick up steam in the months ahead, according to China and Hong Kong-based corporate dealmakers, investment bankers and private equity players surveyed by Royal Bank of Scotland and Mergermarket.

The report comes as expectations soar Beijing will deliver another stimulus package on Wednesday to add to the 4-trilion yuan (US$586-billion) in spending announced late last year. Further stimulus measures will be announced at the National People’s Congress — the climax of the country’s political calendar that features 3,000 delegates from across the country — according to government officials quoted in Chinese state media. Reuters reported, citing an unidentified official at the country’s top economic planning agency, that China will spend more on infrastructure and to boost manufacturing in addition to the stimulus package announced in November.

Details of Beijing’s previously announced spending plans are still sketchy although much of it is directed toward resource-intensive infrastructure projects in the transport and energy sectors.

With the backing of Beijing, cash-rich Chinese investors have spent the past several weeks working on a spate of overseas resource deals. Buoyed by a relatively strong yuan exchange rate, Chinese buyers have taken advantage of depressed commodity prices to pursue overseas assets with vigour. The deals announced so far include a US$19.5-billion bid by state-owned metals company Aluminium Corp of China for a 18% stake in Australia’s Rio Tinto Group, a U$25-billion loan to Russian oil company Rosneft, and a US$10-billion loan to Petrobras of Brazil. Chinese investors have also agreed to plough billions more into Australian and Mongolian iron ore mining companies, gas and pipeline deals in Turkmenistan, and Kazhakstan’s copper and lead mining industry. Late last month China National Petroleum Corp launched a friendly $443-million offer for Calgary-based Verenex Energy Inc. to give the state-owned oil company a stake in a promising Libyan oil concession.

The buying spree will pick up pace this year and reach into more countries, including Canada, said Richard Griffiths, a managing director with Royal Bank of Scotland’s M&A team in Hong Kong.“There is a longer term highly positive trend supporting outbound China M&A in that China has the cash, needs to gain more reliable access to resources and diversify its economy,” Mr. Griffiths said.

So far, a large portion of China’s spending has been direct toward Australia, whose government has shown “an open attitude” to Chinese investment, said the RBS banker. But, as the number of available Australian targets shrinks, “low valuations elsewhere will likely move the focus to North America, particularly resource-rich Canada,” he added.

Almost 40% of the dealmakers surveyed by RBS said the Chinese will target North American assets this year. Deals valued at under US$500-million will likely make up the bulk of China’s overseas investments, the survey respondents said.

Canadian resource companies that have taken on very high debt at the peak of the market and which now are struggling are candidates to receive funds from China, said Ken Courtis, an Asia-based investment banker and analyst. “The recent spate of resource deals is a way for China to diversify very quietly some of its foreign exchange reserves,” he added.

Titanium Information

Source: United States Geological Survey Mineral Resources Program

http://www.indexmundi.com/en/commodities/minerals/titanium/

Medallion Arranges $2 Million Private Placement with Jordan Capital Markets

Monday March 2, 2009, 9:00 am EST

http://finance.yahoo.com/news/Medallion-Arranges-2-Million-cnw-14509876.html

VANCOUVER, Feb. 27 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announces that it has arranged a brokered private placement of up to $2,000,010 of flow-through and non-flow through units at $0.15 per unit through the issuance of up to 6,666,700 Flow Through Units ("FT Units") and 6,666,700 Non-Flow Through Units ("Non-FT Units") (the "Offering"). Medallion has engaged Jordan Capital Markets Inc. ("Jordan") to act as sole and exclusive agent for the offering on a commercially reasonable-efforts basis.

Each FT Unit will consist of one common share and one-half of one transferable common share purchase warrant ("FT Warrant"). Each whole FT Warrant shall be exercisable to acquire one common share at a price of $0.25 for the period of 36 months from closing of the Offering ("Closing Date"). The Company may give written notice to Jordan and the holders of the FT Warrants that the expiry date of the FT Warrants has been shortened to the date that is 30 days after the date of such notice if the closing price of the Company's common shares is equal to or greater than $0.50 per share for 20 consecutive trading days any time following four months from closing.

Each Non-FT Unit will consist of one common share and one transferable common share purchase warrant ("Warrant"). Each Warrant shall be convertible into one common share at a price of $0.25 for the period of 36 months from the Closing Date. The Company may give written notice to Jordan and the holders of the Warrants that the expiry date of the Warrants has been shortened to the date that is 30 days after the date of such notice if the closing price of the Company's common shares is equal to or greater than $0.50 per share for 20 consecutive trading days any time following four months from closing.

The Offering will be sold utilizing the "accredited" investor exemptions from prospectus requirements in applicable jurisdictions and such other exemptions as Jordan and the Issuer may agree.

Medallion will pay Jordan a commission of 9% of the gross proceeds raised in the Offering (the "Commission") payable in cash or Non-FT Units. As additional consideration, Jordan will be granted non-transferable options (the "Agent's Options") entitling Jordan to purchase Non-FT Units equivalent to 10.0% of the aggregate number of FT Units and Non-FT Units sold under the Offering, at the Offering price, for a period of 36 months from the date of closing of the Offering. Medallion has also agreed to pay Jordan a corporate finance fee. The Offering remains subject to regulatory approval.

The net proceeds of the private placement will be used to fund the ongoing work program on the Romaine Iron-Titanium Project and for working capital.

About Jordan Capital Markets Inc.

Jordan Capital Markets Inc. ("JORDAN"), located in Vancouver, British Columbia, Canada was approved for Membership in the Investment Industry Regulatory Organization of Canada ("IIROC") as an Investment Dealer on October 9, 2008 and received Participating Organization/Member status on the TSE and TSX Venture Exchange effective October 31, 2008.

Jordan's International experience and Investment Banking offering is uniquely positioned to provide services to the increasing activity of private financings and M&A activity generated by current market conditions and in the long term.


ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo, President & CEO
Company Management, takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

For further information

www.medallionresources.com
Corporate Development: David Fry, (888) 827-6611, dfry@medallionresources.com

Romaine Iron-Titanium Assays Support Higher-Grade Mineralization

Thursday January 15, 9:30 am ET

TSX-V: MDL

VANCOUVER, Jan. 15 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announces that the assays for surface-core samples, collected during the Romaine Iron-Titanium Project fall field program, support the potential for higher-grade iron-titanium mineralization than recorded for the historical resource. Of the 74 samples assayed, 67 were taken from the main body of presently defined mineralization. These 67 averaged 30.39% iron oxide (Fe(2)O(3)) and 13.66% titanium oxide (TiO(2)). The data represent percentage increases over the historical grade of 14.76% for iron oxide and 26.46% for titanium oxide.

President William Bird reports, "The new data from our recent Romaine Iron-Titanium Project mapping and sampling program are very encouraging. These results continue to add evidence for potentially higher grades and tonnages than expressed in the historical work. First, our fall field work outlined additional outcrop area that could lead to higher tonnages. Now, we have assayed a significant population of representative samples, collected systematically over the entire continuous 2.5-kilometre outcrop of the main body of mineralization, that support potentially higher grades."

The surface-core samples were collected along 20 evenly spaced traverses, which were perpendicular to the 2.5-kilometre strike length of the mineralization, using a technique designed to produce suitable material for chemical and mineralogical analyses and for metallurgical testing. A concrete drill extracted, from each sample site, two closely spaced 30- to 35-centimetre cores. Each of these cores is four centimetres in diameter and weighs 1.8 to 2.0 kilograms. This method is more reliable than channel sampling and it provides a sample of the surface mineralization that is free of most weathering effects and of the potential high- or low-grading problems that are often associated with the usual surface-sampling techniques.

Seventy-four surface core samples, collected during the program, were analyzed at SGS Lakefield Research Limited using the industry-standard assay method of whole-rock lithium borate fusion with X-Ray-Fluorescence finish. The results for the 67 samples collected from the main mineralization area are as follows:

[samples in following link]

http://biz.yahoo.com/cnw/090115/mdl_romaine_iron_tita.html?.v=1

$207,583 Private Placement with MineralFields Group to Fund Romaine River Iron-Titanium Project

Monday December 29, 9:30 am ET

http://biz.yahoo.com/cnw/081229/mdl_private_placement.html?.v=1

TSX.V:MDL
VANCOUVER, Dec. 29 /CNW/ - Medallion Resources Ltd. ("Medallion" or the "Company" - TSX.V: MDL) announces that it is arranging a non-brokered private placement of the Company shares with MineralFields Group (a division of Pathway Asset Management). The private placement will consist of 1,383,886 flow-through common shares at $0.15 per share. The gross proceeds of the private placement will be $207,583. All shares will have a hold period of four months. The private placement is subject to regulatory approval.

Medallion will pay a finder's fee of 8%, which may be paid in cash or in an equivalent number of non-flow-through common shares at $0.15 per share.

The net proceeds of the private placement will be used to fund the ongoing work program on the Romaine Iron-Titanium Project.

About the Romaine River Iron-Titanium Project

Historical drilling and metallurgical work support the Romaine Iron-Titanium project's historical resource estimate of 234 million tonnes grading 10.8% titanium oxide (TiO2) and 17.9% iron.(x) The body of iron-titanium mineralization crops out along a known length of three kilometres and a width that ranges from 200 metres to 460 metres. It is open along strike and down dip. Information from the 1960's and 1970's suggests that there is a significant potential for increasing both the size and grade of the body.(x)

The Romaine Iron-Titanium Project minerals are hematite (Fe2O3) and ilmenite (FeTiO3), which are the minerals mined at the nearby QIT mine (three kilometres to the west). Rio Tinto's QIT mine, with a 50-million-tonne reserve, is a leading producer of high-quality titanium and steel and is presently, the largest iron-titanium mine of its type in the world.

About MineralFields Group

MineralFields Group is a Toronto-based mining fund with significant assets under administration. MineralFields offers its tax-advantage super flow-through limited partnerships to investors throughout Canada. Information about the MineralFields Group is available at www.mineralfields.com.


ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo, President & CEO


Company Management, takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.
(x) The historical resource estimate and the Romaine River property reports supporting the estimate were prepared before the introduction of National Instrument 43-101-- Standards of Disclosure for Mineral Projects ("NI 43-101"). They may not be relied upon until they are confirmed using methods and standards that comply with those required by NI 43-101. The potential for the Romaine River property mineralization to replicate the historical resource estimate, or for new data to expand its tonnage and grade, is conceptual and is based on historical reports, which cite approximate lengths, widths, depths, grades, metallurgical test work and projections of the historical resource. Investors are cautioned that a qualified person has not yet completed sufficient exploration, test work or examination of past work to define a resource that is currently compliant with NI 43 -101. The Company further cautions that there is a risk that exploration and test work will not result in the delineation of such a currently compliant resource. Neither the Company nor its personnel treat the historical resource estimate or the historical data as defining a current mineral resource, as defined under NI 43-101, nor do they rely upon the estimate or the data for evaluation purposes; however, these data are considered relevant and will be used to guide exploration as the Company develops new data to support a current mineral-resource estimates in accordance with the requirements of NI 43-101.

For further information

http://www.medallionresources.com
Corporate Communications: David Fry, (888) 827-6611, dfry@medallionresources.com



--------------------------------------------------------------------------------
Source: Medallion Resources Ltd.

Quebec Iron and Titanium (QIT-Fer et Titane)

Romaine Program Significantly Extends Iron-Titanium Mineralization

Wednesday November 19, 2008, 10:00 am EST

http://finance.yahoo.com/news/Romaine-Program-Significantly-cnw-13618687.html

VANCOUVER, Nov. 19 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announces the completion of a very successful fall field exploration program at the Romaine Iron-Titanium Project. Sample and data production nearly doubled the program's expectations. Geological mapping indicates that the iron-titanium-mineralized outcrops continue along strike for more than three kilometers, a significant distance beyond the north end of the previously known main area of mineralization. Seventy-four surface core samples, collected during the program, await analysis at SGS Lakefield Research Limited. Assay results are expected by year end.

The fall 2008 program is part of Medallion's due-diligence review of the Romaine iron-titanium property, which includes a historical resource estimate of 234 million tonnes grading 10.8% titanium oxide (TiO(2)) and 17.9% iron.(x) During the 120-day due-diligence period, Medallion, together with the property owner, Romaine River Titanium Inc, are finalizing and will execute a definitive agreement that reflects the terms of the Letter of Intent signed by the parties (the "LOI"), which grants an Option to Medallion to acquire a 100% interest in the Romaine property (the "Option"). Medallion's due diligence is nearing completion and the definitive agreement is expected to be executed prior to the end of the due-diligence period (see Medallion news release of 2 September 2008 for terms of the LOI).

The fall program goals are to conduct legal and technical due diligence, to construct a detailed geological map, to confirm the surface extent of the iron-titanium mineralization, and to systematically collect samples for assay and metallurgical tests. The fall program results, along with an analysis of historical drilling and sampling, will be compiled into an NI43-101-compliant technical report, which is required to obtain regulatory approval of Medallion's acquisition of the Option. The technical report will recommend drill targets and a work program for an NI43-101-compliant resource estimate. The data analysis and technical report are in progress.

Medallion uses a surface-sampling technique designed to produce suitable material for metallurgical testing, as well as mineralogical and chemical analyses. A concrete drill is used to extract, from each sample site, two closely spaced 30- to 35-centimetre cores. Each of these is four centimetres in diameter and weighs 1.8 to 2.0 kilograms. This method is more reliable than channel sampling; however, it is not to be confused with diamond core drilling. It provides a reliable sample of the surface mineralization, which is free of most weathering effects and of the potential high- or low-grading problems that are often associated with the usual surface-sampling techniques.

About the Romaine Iron-Titanium Project

The Romaine Iron-Titanium Project, 40 kilometres north of Havre St Pierre, Quebec, includes a historical resource estimate of 234 million tonnes grading 10.8% titanium oxide (TiO(2)) and 17.9% iron.(x) The body of iron-titanium mineralization crops out along a known length of over three kilometres and a width that ranges from 200 metres to 460 metres. It is open along strike and down dip. Recent check sampling and mapping, along with information from the 1960's and 1970's, suggests that there is a significant potential for increasing both the size and grade of the historical resource.(x)

The Romaine Project minerals are hematite (Fe(2)O(3)) and ilmenite (FeTiO(3)), which also are the minerals mined at the nearby QIT mine. Rio Tinto's QIT mine, with a 50-million- tonne reserve (as of 2006) three kilometres to the west, is a leading producer of high-quality titanium and steel products and it is presently the largest iron-titanium mine of its type in the world.


(x) The historical resource estimate and the Romaine property reports supporting the estimate were prepared before the introduction of National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101"). They may not be relied upon until they are confirmed using methods and standards that comply with those required by NI 43-101. The potential for the Romaine property mineralization to replicate the historical resource estimate, or for new data to expand its tonnage and grade, is conceptual and is based on historical reports and field observations, which cite approximate lengths, widths, depths, grades, metallurgical test work and projections of the historical resource. Investors are cautioned that a qualified person has not yet completed sufficient exploration, test work or examination of past work to define a resource that is currently compliant with NI 43 -101. The Company further cautions that there is a risk that exploration and test work will not result in the delineation of such a currently compliant resource. Neither the Company nor its personnel treat the historical resource estimate or the historical data as defining a current mineral resource, as defined under NI 43-101, nor do they rely upon the estimate or the data for evaluation purposes; however, these data are considered relevant and will be used to guide exploration as the Company develops new data to support a current mineral-resource estimate in accordance with the requirements of NI 43-101.

About Medallion

Medallion also holds mineral rights and interests in gold exploration projects in British Columbia and Nevada. Medallion's strategy is to create a portfolio of high-impact world-class mineral projects. The Company's immediate focus is to explore and advance the Romaine Iron-Titanium Project.

ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo,

President & CEO
William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Company Management, which takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

For further information

http://www.medallionresources.com
or contact David Fry, (888) 827-6611, mailto:dfry@medallionresources.com;_ylt=Au7hhD74Ctx7wUo.4sLzeSvOMaoB

Average Titanium Grade of Romaine River Check Samples is 38% Higher than Grade of Historical Resource Estimate(x)

Wednesday November 5, 9:30 am ET

http://biz.yahoo.com/cnw/081105/medallion_initl_sampl.html?.v=1

TSX-V: MDL
VANCOUVER, Nov. 5 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announces that the initial check grab samples, taken during the initial Romaine River property visit, have returned iron oxide (Fe (2)O(3)) and titanium oxide (TiO(2)) assays that are significantly higher than the average grades of the historical resource estimate(x). The average grade of the seven check samples, as compared to the historical resource estimate, is 38% and 29.5% higher, respectively, for titanium oxide and iron oxide.

These samples were collected recently as part of Medallion's due-diligence examination for the pending acquisition of an Option-to-Purchase the Romaine River iron-titanium property, 40 kilometres north of Havre St Pierre, Quebec. The purpose of the visit and the sampling was to check the extent and character of the iron-titanium mineralization, assess variations in grade in different parts of the property, and test and compare iron and titanium analytical methods. Results exceeded expectations. Assayed grades for the mineralized check rock samples are as follows:

Sample ID % Fe(2)O(3)(XRF) % TiO(2)(XRF)

5996 10 30.9 12.6
5996 11 30.2 12.5
5996 12 39.3 18.0
5996 13 32.3 14.7
5996 14 40.2 17.7
5996 15 37.1 16.3
5996 17 30.3 12.5
Average 34.3 14.9



By comparison, the Romaine River property's historical-resource estimate is 234 million tonnes grading 10.8% titanium oxide and 17.9% iron (17.9% iron is estimated to approximate a calculated 26.5% iron oxide or Fe(2)O(3))(x).

The original historical-resource-estimate samples were assayed using an acid-digestion-ICP method (ICP). These assays were performed by Lakefield Research in Lakefield, Ontario, which is now SGS Lakefield Research Limited (Lakefield). In September 2008, Lakefield advised Medallion that, for iron and titanium, the ICP method potentially could have provided artificially low results, due to incomplete digestion of the sample. Lakefield recommended the current industry-standard assay method for iron and titanium, which is a whole-rock digestion by borate fusion with an X-ray fluorescence spectrometry analytical finish (XRF).

To test this potential for low assays, Medallion had Lakefield assay the check rock samples using both XRF and ICP-OES (inductively coupled plasma- optical emission spectrometry) methods. From this test, it appears that there is a marked difference between the two methods. This could explain the significant difference between the check-rock-sample grades and the historical-resource-estimate grades; therefore, a modern NI43-101-compliant resource estimate, based on properly assayed samples, has the potential to provide a higher-grade resource than that of the historical estimate. Medallion will continue to test for this potential and, in the future, it will rely on the current industry-standard XRF assay method to avoid any possibility of artificially low assay results.

Medallion's due-diligence examination of the Romaine River Iron-Titanium property is near completion. The definitive Option-to-Purchase agreement is expected to be completed on schedule before the end of the year. In addition to the due diligence examination, the fall field program at the property includes an extensive and systematic mapping and sampling program, for which results are pending. The due-diligence, mapping and sampling data will be compiled, with all past information on the property, to prepare an NI 43-101 technical report to accompany Medallion's application for TSX-V final approval of the acquisition of the Romaine River property.


(x) The historical resource estimate and the Romaine River property
reports supporting the estimate were prepared before the introduction of
National Instrument 43-101 - Standards of Disclosure for Mineral Projects
("NI 43-101"). They may not be relied upon until they are confirmed using
methods and standards that comply with those required by NI 43-101. The
potential for the Romaine River property mineralization to replicate the
historical resource estimate, or for new data to expand its tonnage and
grade, is conceptual and is based on historical reports, which cite
approximate lengths, widths, depths, grades, metallurgical test work and
projections of the historical resource. Investors are cautioned that a
qualified person has not yet completed sufficient exploration, test work
or examination of past work to define a resource that is currently
compliant with NI 43-101. The Company further cautions that there is a
risk that exploration and test work will not result in the delineation of
such a currently compliant resource. Neither the Company nor its
personnel treat the historical resource estimate or the historical data
as defining a current mineral resource, as defined under NI 43-101, nor
do they rely upon the estimate or the data for evaluation purposes;
however, these data are considered relevant and will be used to guide
exploration as the Company develops new data to support a current
mineral-resource estimates in accordance with the requirements of
NI 43-101.

About Medallion

Medallion is headquartered in Vancouver and listed on the TSX Venture
Exchange. The current property portfolio includes the Romaine River
Iron-Titanium Project in Quebec and gold projects in British Columbia and
Nevada

ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo, President & CEO

William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Company Management, which takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

For further information

visit http://www.medallionresources.com
David Fry, (888) 827-6611, dfry@medallionresources.com

--------------------------------------------------------------------------------
Source: Medallion Resources Ltd.

Medallion Resources Ltd. - Romaine River Iron-Titanium Mapping & Sampling Underway

Tuesday October 14, 9:30 am ET

http://biz.yahoo.com/cnw/081014/mdl_romaine_sampling.html?.v=1

VANCOUVER, Oct. 14 /CNW/ - Medallion Resources Ltd ("Medallion" or the "Company" - TSX.V: MDL) announces that a crew of geologists and samplers is in the field at the Romaine River Iron-Titanium Project, 40 kilometres north of the town of Havre St Pierre, Quebec. Latest reports from the project site confirm that geological mapping is well underway and 40 of 89 planned new sample sites have been mapped and sampled. Initial work is slated to provide due-diligence technical information; however, in order to take advantage of the remaining field season, the program includes a more detailed geological and mineralogical investigation.

The fall 2008 program goals are to construct a detailed geological map, to confirm the extent of the known iron-titanium mineralization, and to systematically collect samples for assay and metallurgical tests. The results, along with an analysis of historical drilling and sampling, will be compiled as an NI43-101-compliant technical report, which is required to complete regulatory approval of Medallion's acquisition of the Romaine River property (see 2 September 2008 news release). The technical report also will provide recommended drill targets and a work program for an NI43-101 resource estimate.

Over the past three weeks, the crew has re-established a property-access route and campsite originally used by drillers in 1968. The route provides access to the iron-titanium mineralized area 375 metres to the north of the campsite. The campsite, on the north shore of Lac Puyjalon, is supplied by helicopter from Havre St Pierre.

A northeast-trending 1968 survey baseline, which runs the full 2.3-kilometre length of the known iron-titanium mineralization, also has been re-established for use by geologists and samplers and for the drill program planned for 2009. Traverses perpendicular to the baseline provide control for mapping and sampling. Surface samples are taken using portable concrete drills that produce a 25- to 35-centimetre core length of the sampled material. This method of surface sampling, which is not to be confused with diamond-drilling methods, assures a relatively uniform sample and it minimizes the collection of weathered surface material. Weathered material is not suitable for metallurgical tests. Completion of the sampling is planned for early November with results expected by the end of the year. Additional financing will be necessary to complete the fall and winter work programs.

About the Romaine River Iron-Titanium Property

Historical drilling and metallurgical work support the Romaine River Project's historical resource estimate of 234 million tonnes grading 10.8% titanium oxide (TiO2) and 17.9% iron(x). The body of iron-titanium mineralization crops out along a known length of 2.3 kilometres and a width that ranges from 180 metres to 485 metres. It is open along strike and down dip. Information from the 1960's and 1970's suggests that there is a significant potential for increasing both the size and grade of the body(x).

The Romaine River Project minerals are hematite (Fe2O3) and ilmenite (FeTiO3), which also are the minerals mined at the nearby QIT mine. Rio Tinto's QIT mine, with a 50-million-tonne reserve three kilometres to the west, is a leading producer of high-quality titanium and steel products and it is presently the largest iron-titanium mine of its type in the world.

*The historical resource estimate and the Romaine River property reports supporting the estimate were prepared before the introduction of National Instrument 43-101 - Standards of Disclosure for Mineral Projects("NI 43-101"). They may not be relied upon until they are confirmed using methods and standards that comply with those required by NI 43-101. The potential for the Romaine River property mineralization to replicate the historical resource estimate, or for new data to expand its tonnage and grade, is conceptual and is based on historical reports, which cite approximate lengths, widths, depths, grades, metallurgical test work and projections of the historical resource. Investors are cautioned that a qualified person has not yet completed sufficient exploration, test work or examination of past work to define a resource that is currently compliant with NI 43-101. The Company further cautions that there is a risk that exploration and test work will not result in the delineation of such a currently compliant resource. Neither the Company nor its personnel treat the historical resource estimate or the historical data as defining a current mineral resource, as defined under NI 43-101, nor do they rely upon the estimate or the data for evaluation purposes; however, these data are considered relevant and will be used to guide exploration as the Company develops new data to support a current mineral-resource estimates in accordance with the requirements of NI 43-101.

About Medallion

Medallion also holds mineral rights and interests in gold exploration projects in British Columbia and Nevada. Medallion's strategy is to create a portfolio of high-impact world-class mineral projects. The Company's immediate focus is to explore and advance the Romaine River Iron-Titanium Project.


ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo

President & CEO



William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Company Management, which takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

For further information

http://www.medallionresources.com
David Fry, (888) 827-6611, mdlcorpcom@shaw.ca

--------------------------------------------------------------------------------
Source: Medallion Resources Ltd.

ROMAINE RIVER IRON-TITANIUM PROJECT

Parker Township, Duplessis County, Quebec

The Romaine River Iron-Titanium Project includes a historical 234-million-tonne resource*, which, Medallion believes, has the potential to expand to perhaps three times that tonnage. This is a potentially world-class occurrence and, as such, represents an exceptional opportunity for Medallion shareholders.

Project Highlights

Historical resource estimate of 234 million tonnes grading 10.8% TiO2 & 17.9% Fe.*

Potential to upgrade tonnage and grade of this historical resource through drilling, sampling, selective test mining & inexpensive basic metallurgical testing.

Potential marketable by-products of feldspar and phosphate.
Immediate advantages

Property and historical-resource estimate can be tested and confirmed relatively quickly, easily and inexpensively, with moderate risk.

Virtually all early expenditures will contribute to verifying the project.

Longer-term advantages

The project appears likely to present few permitting, environmental and social concerns.

Located in the Province of Quebec, which in 2007 was selected by Fraser Institute as the “best mining and exploration jurisdiction in the world”.

Location offers supportive regional logistics and reasonable infrastructure.

Hydro-Quebec plans a new hydro-electric complex 15 kilometres to the east of site with proposed power line & road passing through the Romaine River property.

A successful trail, for this type of project, has been blazed by the world’s largest hard-rock iron-titanium mine, three kilometres to the west, which mines a deposit with many similarities to Romaine River.

Why now?

The world markets for iron and titanium, fueled by extraordinary Asian development, are rapidly expanding.

Some of the largest new-project financings in Canada this year have been for iron projects in Quebec & Nunavut.

Location and Infrastructure

The Romaine River Iron-Titanium Project is in Parker Township, Duplessis County, Quebec, approximately 40 kilometres north of Havre St Pierre, Quebec (50o30’N Latitude, 63o20’W Longitude; NTS map 12L11). The Quebec Iron and Titanium Inc (QIT) Lac Allard mine lies three kilometres to the west. Access to the property is by float plane or helicopter. In the immediate area, road and rail service from Havre St Pierre are available to the nearby Lac Allard mine. Extensive regional services are available at Sept-Iles and Havre St Pierre, including deep-water port facilities (Gulf of St Lawrence). The Province of Quebec plans to provide power and road access to the property. Water from numerous local lakes is abundantly available.

The topography is typical of the Precambrian Canadian Shield with glaciated rolling uplands, rugged valleys and numerous lakes and swamps. The timber is mixed conifer and deciduous with open brushy areas. Winters are cold and heavy snow remains until mid May. Soil cover is shallow and there is considerable exposed rock, including significant outcrops of iron-titanium mineralized material. Elevations above sea level range from 106 to 220 metres.

The QIT Lac Allard Mine and the Romaine River Iron-Titanium Project

At a production level of 18,000 tonnes per day, the QIT Lac Allard mine is the largest hard-rock hematite-ilmenite mine in the world (Hematite, Fe2O3 is the iron ore mineral. Ilmenite, FeTiO3, is the titanium ore mineral). Lac Allard, also known as the Lac Tio mine, began production in 1950 and, at this time, still lists a reserve of 100 million tonnes. QIT is a wholly owned subsidiary of Rio Tinto plc. A QIT corporate video, showing the basic character of the Lac Allard mine may be viewed on YouTube

234 Million Tonne Historical Resource(x) Iron-Titanium Property Optioned by Medallion

Tuesday September 2, 9:00 am ET

http://biz.yahoo.com/cnw/080902/medallion_res_romaine.html?.v=1

TSX-V: MDL
VANCOUVER, Sept. 2 /CNW/ - Medallion Resources Ltd (TSX.V: MDL) announced today that it has optioned from privately held Romaine River Titanium Inc., the right to acquire a 100% legal and beneficial interest ("Option") in the Everett iron-titanium property ("Property"). The Property consists of 59 claims, located three kilometres east of the Rio Tinto-owned Lac Allard iron-titanium mine in Duplessis County, Quebec. The Everett Property is potentially one of the world's largest iron-titanium occurrences with a historical 234-million-tonne estimated resource(x).

President William Bird reports, "The Everett Property, represents an exceptional opportunity for Medallion shareholders and it's rare that a project of this magnitude is available to any company."

About the Everett Iron-Titanium Property

Historical drilling and metallurgical work support the Everett Property's historical resource estimate of 234 million tonnes grading 10.8% titanium oxide (TiO(2)) and 17.9% iron.(x) The body of iron-titanium mineralization outcrops along a known length of 2.3 kilometres and a width that ranges from 180 metres to 485 metres. It is open along strike and down dip.

The Everett Property minerals are hematite (Fe(2)O(3)) and ilmenite (FeTiO(3)), which also are the minerals mined at the QIT Lac Allard mine. The QIT mine, owned by Rio Tinto and presently the largest of its type, is a leading producer of high-quality titanium and steel products.

(x) The historical resource estimate and the Everett Property reports supporting the estimate were prepared before the introduction of National Instrument 43-101- Standards of Disclosure for Mineral Projects ("NI 43-101"). They may not be relied upon until they are confirmed using methods and standards that comply with those required by NI 43-101. The potential for the Everett Property mineralization to replicate the historical resource estimate, or for new data to expand its tonnage and grade, is conceptual and is based on historical reports, which cite approximate lengths, widths, depths, grades, metallurgical test work and projections of the historical resource. Investors are cautioned that a qualified person has not yet completed sufficient exploration, test work or examination of past work to define a resource that is currently compliant with NI 43-101. The Company further cautions that there is a risk that exploration and test work will not result in the delineation of such a currently compliant resource. Neither the Company nor its personnel treat the historical resource estimate or the historical data as defining a current mineral resource, as defined under NI 43-101, nor do they rely upon the estimate or the data for evaluation purposes; however, these data are considered relevant and will be used to guide exploration as the Company develops new data to support a current mineral-resource estimates in accordance with the requirements of NI 43-101.

Terms of Option Acquisition

In consideration of the grant of the Option, the Company has agreed, among other things, to pay to RRT $50,000 and issue 100,000 common shares to RRT (the "Initial Payments") on or before 120 days following the date of the LOI. The parties have agreed to prepare and execute a definitive option agreement, which will replace the LOI. The LOI and the Option are subject to due diligence, the acceptance of the TSX Venture Exchange and the approval of the shareholders of RRT.

On or before 31 December 2012, in order to maintain the right to exercise the Option and acquire a 100% interest in the Everett Property, Medallion is required to pay to RRT in installments an aggregate of $450,000, issue to RRT an aggregate of 800,000 Medallion Shares and incur an aggregate of $6,000,000 in optional expenditures on the Everett Property (collectively, the "Option Payments"). These expenditures include an obligation that Medallion incurs an aggregate of $750,000 in expenditures on the Property on or before 31 December 2009 and produce a technical report in accordance with National Instrument 43-101 to confirm measured and/or indicated mineral resources on the Property. The LOI permits Medallion to extend the term of the Option to 31 August 2013, in the event that Medallion defers a portion of the required expenditures due by 31 December 2012 and agrees to expend the deferred shortfall, plus a premium, by 31 August 2013. In the event that Medallion wants to exercise the Option at an earlier date, Medallion has the right to complete the Option Payments at any time prior to the required dates set out in the LOI. The Everett Property is not subject to any royalties.

On completion of the above mentioned Initial Payments and Option Payments and provided that Medallion has not less than $4,000,000 in working capital in hand and no long-term unconvertible debt, Medallion will have the right to exercise the Option and acquire the Everett Property by paying to RRT an additional $1 million and by issuing to RRT that number of Medallion Shares so that RRT will then hold, inclusive of all shares previously issued to RRT, an aggregate of 50% of the then issued and outstanding Medallion Shares. Medallion will grant to RRT the right to acquire, for no additional consideration, a proportion of the number of Medallion Shares which are subsequently issued upon exercise of any warrants of Medallion outstanding at the date of the exercise of the Option based on the extent to which such warrants are in the money when exercised. Medallion will also grant the right to acquire, for no additional consideration, such number of Medallion Shares as is equal to the number of any Medallion Shares that are subsequently issued upon conversion of any special warrants, subscription receipts and convertible debt instruments of Medallion (excluding stock options), which are outstanding at the date of the exercise of the Option.

Prior to the exercise of the Option, Medallion has also granted to RRT the right to acquire up to 10% of the securities issued in any equity financing of Medallion on the terms and conditions applicable to other investors in such financing.

Medallion has also agreed upon execution of the definitive agreement to appoint one nominee of RRT to the board of directors of Medallion, and upon exercise of the Option to appoint nominees of RRT to comprise 50% of the members of the board of directors of Medallion, subject to regulatory approval.


ON BEHALF OF THE BOARD OF DIRECTORS

"William H Bird", PhD, PGeo, President & CEO


William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. Company Management, which takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future exploration and financing plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential mine types and by comparing the Company's projects to other projects. Also, in order to proceed with the Company's exploration and acquisition plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate the Company's plans.

For further information

check the website HTTP://www.medallionresources.com or contact: William H Bird, (888) 827-6611, birdwill@aol.com
David Fry, (888) 827-6611, mdlcorpcom@shaw.ca
Wayne Marsden, (888) 366-4464, jwmarsden@aol.com

--------------------------------------------------------------------------------
Source: Medallion Resources Ltd.