MDL Medallion Resources Ltd

Medallion Resources Ltd. (TSX VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD)
("Medallion" or the "Company"), announces that, working with metallurgical
consultants, it has produced preliminary processing technical plans, including
flow sheets and initial capital and operating financial models, for a
monazite-based rare-earth processing facility, which is expected to be
constructed in the Middle East. The proposed facility, based on assumed annual
rare-earth-oxide production of 10,000 tonnes per year, incorporates modules for
monazite feedstock upgrading, total rare-earth extraction from monazite, and
separation of individual light and heavy rare-earth oxides.


"Over the last few months, while senior management has advanced discussions with
potential Middle East joint-venture partners, we have completed our initial
rare-earth-processing technical plans, which significantly reduces project
risk," said Dr Bill Bird, Medallion Chairman and CEO. "This work provides solid
support for our approach and the project's attractive economics, and has
strengthened our position in the current partnership discussions."


Medallion's rare-earth production strategy is to exploit available supplies of
monazite, a rare-earth phosphate mineral that is a by-product of
heavy-mineral-sands mining operations and that has a proven, metallurgical
extraction process. This model fits exceptionally well with the goals of
potential Middle East joint-venture partners. Negotiations to locate and finance
a major rare-earth production facility in the Middle East are moving forward
steadily and positively. The Middle East offers first-class transportation and
industrial infrastructure, low-cost power, and ready availability of necessary
chemicals and skilled labour. These positive and practical attributes are
supported by industry-friendly jurisdictions.


"Having just attended the MENA Mining Show in Dubai on October 22 and 23, as
both a presenter and sponsor, I can confirm that there is significant interest
in, and positive support for, Medallion's monazite business model," said Donald
Lay, Medallion President and Director. "I am at the TZMI Congress in Hong Kong
this week, where our management team is discussing monazite feedstock
procurement with industry representatives of the titanium and zircon feedstock
industries."


About Medallion Resources Ltd.

Medallion is rethinking rare earths. Headed by Dr Bill Bird and supported by an
experienced technical team, the Company believes it is well positioned to
identify and exploit the world's most promising rare-earth opportunities.
Medallion's strategy is to target large deposits amenable to straightforward
low-cost mining and metallurgical processes that lead to near-term rare-earth
production and long-term low-cost supply. Rare earths are used in critical
components for virtually all computing and mobile electronic products, as well
as wind turbines, electric and hybrid vehicles and strategic defense systems.
Medallion is committed to following best practices and accepted international
standards in all aspects of mining, mineral processing and the safe management
of waste materials. More about Medallion (TSX
VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD) can be found at medallionresources.com.


Medallion management has prepared this news release and takes full
responsibility for content. Some of the statements contained in this release are
forward-looking statements, such as estimates and statements that describe
Medallion's future exploration, production and financing plans, objectives or
goals, including words to the effect that Medallion 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 business, acquisitions or development
plans. Also, in order to proceed with Medallion's plans, additional funding will
be necessary and, depending on market conditions, this funding may not be
forthcoming on a schedule or on terms that facilitate Medallion's plans.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medallion Resources Ltd.
Donald Lay
President
+1.604.681.9558
info@medallionresources.com
www.medallionresources.com


Hamza Thindal Capital Corp.
Kam Thindal
Partner
+1.888.371.9098
kam@htcapitalcorp.com

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