MNI Tanager Energy, Inc.

MGold Resources Inc.  (TSX VENTURE:MNI) ("MGold" or the "Corporation") announced
today that the non-brokered private placement offering of 10% unsecured
convertible debentures in the principal amount of up to $3,000,000 previously
announced on January 30, 2012, has closed unsubscribed and no funds were raised
through this issue.


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". 


FOR FURTHER INFORMATION PLEASE CONTACT: 
MGold Resources Inc.
John Squarek
President and Chief Executive Officer
403-388-0969
john.squarek@mgold.ca

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