Mr. Robert Dinning reports

MEADOW BAY GOLD ANNOUNCES AND CLOSES $2 MILLION PRIVATE PLACEMENT

Meadow Bay Gold Corp., contrary to its prior news release of today, has closed a non-brokered private placement financing of $2,025,000 consisting of the issuance of 2.25 million common shares priced at 90 cents each. There were no warrants attached to the common shares. Compensation was paid to certain finders. The financing is subject to TSX Venture Exchange approval, and the shares will bear the standard four-month hold period.

Robert Dinning, chief executive officer, is participating in the private placement in the amount of $100,000.

The funds generated will be used to continue advancement of the Meadow Bay Gold's former producing Atlanta mine in Nevada including continuing exploration and development activities. This placement also ensures 18 months of operating capital on hand.