MGold Resources Inc

Published : September 30th, 2007

Exploration Update on Mengold's Shebandowan Programs. Diamond Drilling Planned for this Fall

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Keywords :   Copper | Diamond | Gold | Lead | Molybdenum | Nickel | Zinc |


MONTREAL, QUÉBEC, September 27, 2007. Mengold Resources Inc. (MNI-TSX.V) has been conducting ongoing field programs at its Burchell Lake and Goldcreek Properties, located in the Shebandowan area, west of Thunder Bay, Ontario. A 5,000m Diamond drilling contract was signed this week and the Company intends on undertaking a drill program at both of these properties this fall.

During the summer of 2007, Mengold has been conducting exploration programs at the Burchell Lake and Goldcreek Properties. Field crews are taking soil samples on all the previously cut grids at 25m intervals. There are three grids at the Goldcreek Property totalling 92.1 line-km and one 27.0 line-km grid at the Burchell Lake Property. To date, about 2,500 samples have been sent to the laboratory for analysis. The results are anticipated to be received shortly. The field crews are also running a beep mat survey over all the grids in order to test for metallic conductors down to a depth of a few meters. Prospecting and geological mapping are being done concurrently with the other surveys mentioned. The purpose of these programs is to identify and prioritize target areas for an upcoming 5,000m Diamond drill campaign which is slated to commence this fall.

In late March 2007, a Beep Mat survey was conducted over the I-Zone on the Goldcreek Property. Beep Mats are used to locate conductors which are within a few metres of surface. The survey identified five new beep mat conductors. Management is encouraged by the location of these near-surface conductors as prior geophysical surveys have indicated an 800m long structure at the I-Zone which carries some high-grade gold values within two parallel structures measuring up to 4m-5m in width.

The Qualified Person supervising the work being carried out on the Burchell Lake and Goldcreek Properties is Joel Scodnick, P.Geo., President and CEO of Mengold Resources Inc. and the President & CEO of Helm Exploration Ltd.

The Burchell Lake and Goldcreek Properties are prospective for gold and Volcanogenic Massive Sulphide (VMS) style base metal - copper-lead-zinc-molybdenum - mineralization. Both properties are qualified by independent NI-43-101 Reports conducted by Geologica Consulting Group and the Reports are available on SEDAR.

Mengold is engaged in mineral exploration for precious and base metals. The Company is currently conducting exploration programs at the Burchell Lake and Goldcreek Properties, both prospective for gold, copper, zinc and nickel, in the Shebandowan area west of Thunder Bay, Ontario. Mengold also holds two properties in Quebec, the Mountain River Property near Sainte-Anne-du-Lac, and the Thetford Property in the Eastern Townships. Mengold has 28,245,088 common shares outstanding.

MGold Resources Inc

EXPLORATION STAGE
CODE : MNI.V
ISIN : CA8753521068
CUSIP : 56880Q
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MGold Resources is a gold exploration company based in Canada.

MGold Resources holds various exploration projects in Canada and in USA.

Its main exploration properties are NEEDLE LAKE and BURCHELL LAKE in Canada and GOLDCREEK in USA.

MGold Resources is listed in Canada. Its market capitalisation is CA$ 1.3 millions as of today (US$ 1.3 millions, € 939 351).

Its stock quote reached its highest recent level on December 28, 2006 at CA$ 0.50, and its lowest recent point on June 07, 2013 at CA$ 0.02.

MGold Resources has 43 454 000 shares outstanding.

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Annual reports of MGold Resources Inc
Annual Report 2007
Financings of MGold Resources Inc
4/15/2013.: Closing of Debenture Issue
1/31/2013Announces Proposed Debenture Offering
10/31/2012Announces Extension Of Financing
6/19/2007Closes $1,500,000 Private Placement Financing
Nominations of MGold Resources Inc
10/12/2012Announces Appointment of Chief Financial Officer and Corpora...
Project news of MGold Resources Inc
6/16/2011Announces an Agreement with Silver Reserve Corp. On the Silv...
9/30/2007(Burchell Lake)Exploration Update on Mengold's Shebandowan Programs. Diamon...
Corporate news of MGold Resources Inc
9/20/2013. Changes Its Name to Tanager Energy Inc.
7/15/2013.: Corporate Update
6/21/2013Announces Delay of Annual General Meeting
4/9/2013Announces Termination of Oil and Gas Project Participation
3/18/2013. Appoints Vice President of Production and Corporate Secret...
2/21/2013Announces Property Evaluation Results
1/21/2013Announces Shares for Debt Transaction
1/4/2013Announces Oil and Gas Project Letter of Intent
3/24/2011Completes $599,970 Private Placement
2/25/2011Completes Private Placement Offering
4/16/2007Extensive Gold Encountered in I-Zone Surface Program at Meng...
3/5/2007Promising Geophysics at Mengold's Goldcreek Property
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