Vancouver, BC, July 24, 2014 - Jennings Capital has initiated coverage on Mega Precious Metals (MGP.V). Analyst Peter Campbell gives the company a speculative buy recommendation and a 12-month target price of $0.25, a premium of 108% to the $0.12 price on July 22nd when the report was issued. 

InvestmentPitch.com has produced a "video research alert" about Mega Precious Metals based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Mega" in the search box.

Mega Precious is developing the Twin Lakes deposit on its flagship Monument Bay Gold Tungsten project, located in northeastern Manitoba. The deposit currently stands at approximately 4 kilometres in strike length and ranges in width from 30 metres to 130 metres. In-pit resources total 3.1 million ounces of gold grading 1.4 grams per tonne gold.

However, the deposit lends itself to a much higher-grade starter pit of 700,000 ounces gold grading 2.7 grams per tonne gold. A key element of the asset not to be overlooked is the presence of a valuable tungsten by-product credit.

While the company has yet to deliver a maiden resource for tungsten, Jennings estimates that the tungsten stream might represent a US$200 per ounce by-product credit.

A resource update is expected soon. Not only will it include a maiden resource estimate for tungsten, it will include an additional 12,000 metres of drilling and results from the 30,000 metre Old Core Assay Program.

Glen Kuntz, President & CEO stated: "We continue to advance our flagship asset Monument Bay with an updated mineral resource estimate that is scheduled for Q3 2014 that will include estimates of both gold and tungsten. Following the updated mineral resource estimate, Mega expects to prepare its first preliminary economic assessment."

The company is well funded, having recently closed a private placement of 3.9 million non-flow-through units at $0.11 per unit, and 40.7 million flow-through units at $0.12 per unit, for gross proceeds of $5.3 million

Analyst Peter Campbell stated: "We value Mega using a `comparable producers` approach, made difficult by the fact that Mega does not yet have a stated tungsten resource, complete tungsten metallurgy and a PEA. We have elected to take a conservative valuation approach that we can easily modify as more of this important information becomes available."
             
Mega`s shares currently trade at $0.11, a significant discount to the $0.25 target price, and with 173 million shares outstanding, the company is capitalized at $19 million.  For more information please visit the company`s website at www.megapmi.com or contact Glen Kuntz, President & CEO, at 807-766-3380 or email info@megapmi.com.

For more information about Jennings Capital or to obtain a copy of their research report, contact your nearest Jennings Capital office. Their branches are listed on their website at www.jenningscapital.com.

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