Mr. Glen Kuntz reports

MEGA PRECIOUS METALS REPORTS 51.7M OF 4.8 G/T GOLD INCLUDING 0.7% TUNGSTEN OVER 2.0M AND THE COMMENCEMENT OF THE 2014 DRILL PROGRAM AT MONUMENT BAY

Mega Precious Metals Inc. has released the results from its old core assay program (OCAP), which continues to define multiple high-grade structures within broad near-surface gold mineralization and show the potential for significant tungsten byproduct credits. Holes TL-05-264 and TL-05-265 are exciting results as they outline higher grade structures located in the middle of the proposed pit, approximately 1,000 metres east of some of the highest-grade zones discovered within the Twin Lakes deposit. The company will focus on extending the emerging mineralized zones with its OCAP and drilling program.

Press release highlights:

• Old core assay program (OCAP) continues to define broad near-surface gold and tungsten mineralization.
• TL-05-264 intersects 38.2 m of 3.7 grams per tonne gold, including 0.3 per cent WO3 over 1.2 m, equating to 3.9 g/t gold-equivalent.
• TL-05-265 intersects 51.7 m of 4.8 g/t gold including 0.7 per cent WO3 over two m, equating to 5.1 g/t gold-equivalent.
• TL-05-306 intersects 48.6 m of 1.7 g/t gold including 0.5 per cent WO3 over 9.5 m, equating to three g/t gold-equivalent.
• Additional gold and tungsten assays are pending from the continuing OCAP program.
• The 2014 drill program has commenced with two drills, focusing on expanding the surface/near-surface high-grade repeatable gold and tungsten cores.

TL-05-306 with previously released holes TL-12-484 and TL-13-509 are successfully demonstrating the continuity and consistency of the mineralization at or near surface. More importantly, TL-05-306 was drilled only 100 m from surface and upplunge from holes TL-12-484 and TL-13-509, significantly extending the high-grade cores to near surface at Twin Lakes deposit. These holes exhibit the same predictable and consistent high-grade gold and tungsten cores that have been encountered every 180 to 290 m. These cores begin at or near surface and increase in size with depth. The intercepts are suggesting a considerable expansion opportunity of the proposed starter open pit, as well as the potential to significantly enrich the current overall open-pit resource grade of 1.4 g/t gold and continue to convert gold mineralization previously below cut-off into economic mineralization.

Historical gold only assays from TL-05-306 returned 5.44 g/t gold over 6.1 m; subsequent to Mega's OCAP for both gold and tungsten, the hole now returns an intercept of 1.73 g/t gold-equivalent over 48.6 metres, including a wide and higher-grade tungsten core intercept of 0.5 per cent WO3 (6.99 g/t-gold equivalent) over 9.5 metres, including 0.5 per cent WO3 over 3.1 m and 1.9 per cent WO3 over 1.6 m.

The continuity of these intercepts along with previously reported gold and tungsten results are located in continuous shear zones that flank the broad QFP dike that hosts the majority of the gold mineralization located within the Twin Lakes deposit.

Collectively, these tungsten results continue to demonstrate the potential for an economic byproduct credit due to the consistent nature of the gold/tungsten association throughout the Monument Bay gold and tungsten project.

The tungsten results to date have not been included in the latest National Instrument 43-101 resource. During the second quarter of 2014, Mega expects to provide an updated NI 43-101 resource which will include tungsten as well as the results from the metallurgical testing currently in progress (details available in news release of Oct. 31, 2013).

Focused on resource expansion of high-grade cores

The current results will continue to extend and improve the contained ounces, open-pit design and overall economics of the deposits.

           2014 HIGH-GRADE GOLD EQUIVALENT INFILL DRILL RESULTS

                                                  Au grade   Au grade     WO3
                          From      To   Width        (g/t)      (g/t)  grade
Hole                        (m)     (m)     (m)  (uncapped)   (capped)     (%)

TL-05-264                224.0   262.5    38.2        3.65       0.83    0.01
includes                 261.0   262.2     1.2      106.34       16.8    0.28
TL-05-265                114.0   132.0    18.0        1.54       1.54    0.01
                         164.0   176.5    12.5        0.38       0.38    0.01
                         221.0   272.9    51.7        4.80       2.42    0.02
includes                 220.0   224.0     4.0        7.26       6.91    0.01
includes                 269.9   271.9     2.0      105.66      44.60    0.66
TL-05-306                 68.3   116.9    48.6        1.73       1.73    0.11
includes                 104.4   113.9     9.5        0.84       0.84    0.49
includes                 104.4   107.5     3.1        2.58       2.58    0.53
includes                 112.3  113.85    1.55        2.21       2.21    1.86

                                                        Historical
                              AuEq      AuEq
                             grade     grade                         Au grade
                              (g/t)     (g/t)  From     To               (g/t)
Hole                     (uncapped)  (capped)    (m)    (m) Width   (uncapped)

TL-05-264                     3.95      1.14  261.2  262.2    1.2      106.34
includes                    109.62     20.10
TL-05-265                     1.66      1.66  269.9  271.9    2.0      105.66
                              0.46      0.46
                              5.12      2.74
includes                      7.35      7.00
includes                    113.35      52.2
TL-05-306                     3.01      3.01   71.3   77.4    6.1        5.44
includes                      6.99      6.99
includes                      8.76      8.76
includes                     24.02     24.02

Glen Kuntz, PGeo, president and chief executive officer, stated: "The Monument Bay project continues to confirm that the system hosts multiple high-grade structures within broad near-surface gold mineralization and the potential for significant tungsten byproduct credits. This mineralization continues past our deepest drilling, approximately 500 vertical m. The combination of these two styles of mineralization has the potential to reduce waste rock and increase overall tonnes and ounces in the proposed pit. Over the past months, Mega has been releasing some of the broadest and highest total gold-equivalent grades intersected to date. A resource estimate with this new data has not yet been completed; however, a preliminary interpretation has confirmed the continuity of multiple gold and tungsten structures within the proposed open pits. This is significant and crucial for the Twin Lakes deposit as there are a number of gold and tungsten zones which required additional infill sampling to improve the confidence in order to develop a successful mine plan. We are focusing our 2014 drilling and OCAP programs on our near-surface high-grade targets. We see 2014 as continuing to be a pivotal year for Mega and will maintain our focus on advancing and derisking our projects."

To date, over 65 drill holes out of 509 have been assayed for gold and tungsten, and collectively they increased the overall gold-equivalent grade by a weighted average of approximately 30 per cent when compared with the gold-only results. As a point of reference, current tungsten-only mines have resource grades between 0.09 per cent and 1.1 per cent tungsten with the average being approximately 0.49 per cent tungsten.

Exploration plans for 2014

The 2014 drill program has commenced with two drills, focusing on expanding the surface/near-surface high-grade repeatable gold and tungsten cores. Mega will continue to focus on resource expansion through drilling, OCAP and surface exploration programs to establish potential for future growth by outlining multiple gold targets along the 140 kilometres of prospective mineralized corridors.

Monument Bay gold project is located 52 km north of Red Sucker First Nation (RSLFN), Manitoba. The property is located on Crown property in an area of low topographic relief and outcrop is fairly rare. Manitoba's current northern development strategy is building all-purpose roads and infrastructure improvements within the region. Once these are complete, the company will have all-purpose roads and power lines with very low electricity rates (two cents to four cents per kilowatt-hour) that are within approximately 48 km of the project area.

Technical information

The design of Mega's drilling programs, quality assurance/quality control and interpretation of results is under the control of Mega's geological staff, including qualified persons employing a QA/QC program consistent with NI 43-101 and industry-best practices. A detailed review of Mega's QA/QC procedures is filed in the NI 43-101 report dated June 17, 2013, and on SEDAR.

All drill core is transported by company personnel from drill site to the camp for logging, and sampling preparation is completed. Sampling intervals are defined after core logging and determination of scheelite content by examination under short-wave ultraviolet light. One-half of the core is sent for analysis, while the other half is retained in the core boxes for future reference. All samples are shipped to Accurassay Laboratories in Thunder Bay, Ont., and analyzed employing the appropriate gold fire assaying technique. For QA/QC purposes the company and the lab submit standards and blanks every 20 samples. Samples are analyzed for W by XRF and assay results for tungsten are reported by the laboratory as W percentage. WO3 values are calculated using a conversion factor of 1.2611.

Glen Kuntz, PGeo, president and chief executive officer, is the qualified person for the information contained in this press release and is a qualified person defined by National Instrument 43-101. Mr. Kuntz was senior resource geologist at the Campbell gold mine, global spatial data systems co-ordinator for Placer Dome, vice-president of enterprise mining solutions for Runge Ltd. and most recently chief operating officer with Mega Precious Metals.

We seek Safe Harbor.