Medallion Resources Announces $1,000,000 Private Placement (May 21st, 2014)

Medallion Resources Ltd. - $MDL:CA |

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, BC – Medallion Resources Ltd (TSX-V: MDL; OTCQB: MLLOF – “Medallion” or the “Company”), today announced that it has arranged a non-brokered private placement of up to 6,666,667 million units (each a “Unit”) at $0.15 per Unit for gross proceeds of up to $1,000,000 (the “Offering”). Each Unit consists of one common share and one-half of a transferable common share purchase warrant (a “Warrant”). Each whole Warrant is exercisable to acquire one common share at an exercise price of $0.30, for a period of 24 months from closing of the Offering (“Closing Date”). The Company expects the bulk of the financing to be raised through the efforts of an agent working with private investors in the Arab Gulf States. Certain Medallion Directors and Officers have arranged to partially fund the Offering with proceeds from the sale of 1,000,000 shares of Medallion at a price of $0.15 per share through the facilities of the TSX Venture Exchange (“the Exchange”).

Medallion has agreed to pay a finders’ fee of 8% of the gross proceeds, payable in cash or Units, at the discretion of the finder, and will grant finders’ options equal to 8% of the Units sold by qualified finders. Each finder’s option shall be exercisable to acquire one common share of the Company at an exercise price of $0.15 per share, for a period of 24 months from the Closing Date.

The proceeds of the Offering will be used for financial, technical and environmental studies for the Company’s proposed rare-earth processing plant in Oman; monazite feedstock acquisition efforts; business development; and working capital.

All securities issued to purchasers and finders under the Offering will be subject to a four-month hold period from the Closing Date, pursuant to securities legislation and the policies of the Exchange. The securities offered have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale, or solicitation would be unlawful.

About Medallion Resources

Led by Dr Bill Bird and supported by an experienced technical team, the Company focuses on low-cost, near-term, rare-earth production opportunities using the rare-earth mineral monazite, which is available as a by-product from existing mining and mineral-sands sources principally in the Indian Ocean basin. Medallion is currently evaluating a proposal to import monazite feedstock and produce rare-earth products at a proposed processing facility in the industrial city of Duqm, Oman. 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-V: MDL; OTCQX: MLLOF; Frankfurt: MRD) can be found at medallionresources.com.

Donald Lay, President at +1.604.681.9558 or info@medallionresources.com

Kam Thindal, Hamza Thindal Capital Corp. at +1.604.488.9875 or kam@htcapitalcorp.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 statements relating to completion of the private placement, completion of transactions under the Company’s MOUs, completion of monazite feed agreements, and 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, including the risks inherent in completing complex business arrangements in international jurisdictions and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include risks of completing planned financing, and risks that expectations 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.

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