Mr. Stephen Stewart reports

MISTANGO EXPANDS OMEGA GOLD PROPERTY BY 60%

Mistango River Resources Inc. has entered into a purchase agreement to acquire 100 per cent of the McVittie property immediately adjacent to its 100-per-cent-owned Omega gold project to the north.

Highlights:

• Omega hosts a global resource of 585,000 ounces of gold;
• Omega now comprises 15 leased claims and 10 patents;
• Property size increased from 257 hectares to 400 hectares;
• Strategic growth asset in a world-class district close to Mag Silver, Agnico Eagle and Gold Candle.

McVittie property now consolidated into the Omega gold project

McVittie is located in southern-central McVittie township in the Larder Lake mining division of Ontario, approximately 25 kilometres east of Kirkland Lake, Ont. McVittie comprises eight patents with surface and mining rights and is contiguous with the northern portion of Omega. The acquisition has increased Omega's property size from 257 hectares to 400 hectares.

Omega is central to the Cadillac Larder Lake Break consolidation strategy

Omega historically produced approximately 215,000 ounces grading 5.41 grams per tonne gold between 1926 and 1928 and between 1936 and 1947. Omega currently hosts an open-pittable resource, including a measured and indicated resource of 4.92 million tonnes grading 1.39 grams per tonne gold (219,800 ounces) and an inferred resource of 4.69 million tonnes grading 2.43 grams per tonne gold (365,400 ounces). Having a global resource of 585,000 ounces gold, Omega is a strategic growth asset in a multimillion-ounce gold district that is primed for consolidation -- the Cadillac Larder Lake Break (CLLB).

The prolific CLLB and the larger Kirkland Lake district host some of the highest-grade gold resources globally. Immediately adjacent to and surrounding Omega, Mag Silver's Larder project hosts a historical indicated resource of 388,000 ounces grading 2.39 grams per tonne gold and a historical inferred resource of 933,000 ounces grading 4.21 grams per tonne gold. Near the town of Kirkland Lake, Ont. (30 kilometres west of Omega), the Cadillac Break hosts Agnico Eagle's Macassa mine, one of the world's highest-grade gold deposits, producing at an average grade of 15 grams per tonne gold. Located 10 kilometres east of Omega, in the town of Virginia, the historical Kerr-Addison mine produced 11 million ounces at nine grams per tonne gold and currently hosts an indicated resource of 3.31 million ounces grading 1.5 grams per tonne gold and an inferred resource of 2.36 million ounces grading 1.3 grams per tonne gold. North of Omega and the CLLB, Agnico Eagle is developing its Upper Beaver deposit, which hosts 3.6 million ounces gold.

Qualified person statement

The technical information contained in this news release has been reviewed and approved by Charles Beaudry, PGeo, Geo, director of Mistango River Resources, a qualified person, as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects. For the exploration undertaken by Mistango, all assay batches are accompanied by rigorous quality assurance procedures, including the insertion of standards and blanks.

Transaction details

Mistango is acquiring the McVittie property from Jubilee for $25,000 and a 3-per-cent net smelter return royalty on McVittie, with Mistango having the right to purchase 1 per cent of the 3 per cent from the vendor for $1-million.

This transaction is subject to Canadian Securities Exchange and TSX Venture Exchange approvals.

We seek Safe Harbor.