MDL Medallion Resources Ltd

Medallion Resources Ltd. (TSX VENTURE:MDL)(OTCQX:MLLOF) ("Medallion" or the
"Company") announces that, as a result of a technical disclosure review by the
British Columbia Securities Commission ("the BCSC"), it is issuing the following
news release to clarify and retract certain disclosure.


Several news releases of the Company (including news releases dated January 26,
2012, April 18, 2012, July 11, 2012, November 5, 2012, June 20, 2013 and July 9,
2013), certain webpages on the Company's website, and the Company's Q4 2013
investor presentation (the "Investor Presentation") and the fact sheet on the
Company's website (the "Fact Sheet", collectively, with the other above-noted
disclosure documents, the "Disclosure Documents") contain disclosure relating to
Medallion's plans with respect to developing, financing and constructing a
monazite processing facility (the "Processing Plant"), capable of producing
rare-earth concentrates. It is intended that monazite, a rare-earth phosphate
mineral, available as by-product of the heavy-mineral-sands industry, will be
processed at the Processing Plant (the "Monazite Processing Project"). It is
intended that the monazite will be acquired pursuant to feedstock agreements
with heavy-mineral-sands processors, which produce monazite as a by-product of
their titanium and zircon production. 


The Investor Presentation, the Fact Sheet and the Company's news releases dated
November 5, 2012 each contain statements regarding the Company's expectations
for the positive economics and the potential favourable internal rate of return
of the Monazite Processing Project. The Company hereby retracts any prior
disclosure in the Disclosure Documents regarding any assessment of the potential
economics of the Monazite Processing Project, including any potential favourable
internal rate of return, and clarifies that because it has not yet finalized any
monazite feedstock agreements, or other arrangements securing delivery of
monazite to be processed at the Processing Plant, it is not at this time able to
reasonably determine the potential economic returns of the Monazite Processing
Project. The Company further clarifies that, at this time, the potential
economic returns of the Monazite Processing Project have not been verified by an
independent expert in a detailed technical study.


Medallion also wishes to clarify that any references in the Disclosure Documents
to the Processing Plant having a planned production capacity of 10,000 tonnes
per annum are based on the anticipated throughput of the Processing Plant, and
not on any currently secured feedstock arrangements or mineral resources or
reserves on a property in which Medallion holds an interest. Such processing
capacity is subject to change as Medallion's plans with respect to the Monazite
Processing Project develop.


The foregoing matters should be carefully considered by potential investors as
they may increase the risks associated with an investment in securities of the
Company. There can be no assurance that Medallion will be successful in
arranging a suitable monazite feedstock supply, in finalizing arrangements for
the financing and development of the Monazite Processing Project or in
profitably operating such project.


About Medallion Resources

Medallion is rethinking rare earths. Headed by Dr Bill Bird and supported by a
first-class technical team, the Company is well positioned to identify and
exploit the world's most promising rare-earth opportunities. Medallion's
strategy targets large deposits amenable to straightforward low-cost mining and
metallurgical processes that lead to near-term, rare-earth production and
long-term 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. More about Medallion (TSX
VENTURE:MDL)(OTCQX:MLLOF)(FRANKFURT:MRD) can be found at
www.medallionresources.com.


Medallion management takes full responsibility for content and has prepared this
news release. Neither TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange) accepts
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 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
+1.888.371.9098

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