John Squarek, President and CEO of MGold Resources Inc. announced today that he has acquired 4,750,000 common shares of MGold at a price of $0.03 per share pursuant to a private transaction. Following the completion of the transaction, Mr. Squarek will own or control 5,050,000 common shares or approximately 14% of the total issued and outstanding common shares of MGold. The purchase of the shares by Mr. Squarek was made for investment purposes. Mr. Squarek may increase or decrease his investment in MGold depending on market conditions or any other relevant factors.