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File: MDL Closes $100000 Private Placement - July 26 2018 Final.docx

FOR IMMEDIATE RELEASE
July 26, 2018
NOT FOR RELEASE IN THE UNITED STATES

Medallion Resources Closes $100,000 Private Placement

Vancouver, BC - Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) - ("Medallion" or the "Company"),
---> pursuing smart production of magnet metals, today announced that it has closed a non-brokered private placement for g
--->ross proceeds of $100,000 to a single high net worth investor.  
Medallion is pursuing production of magnet metals by sourcing and processing the by-product rare earth mineral monazit
--->e, which is rich in neodymium and praseodymium, collectively known as "NdPr". NdPr is the key input material for light
--->weight, powerful rare earth permanent magnets, which are facing increased demand for their use in vehicle electrificat
--->ion, wind power generation and robotics.
The Company has issued 1,000,000 units (each a "Unit") to the investor at a purchase price of $0.10 per Unit, each Uni
--->t consisting of one common share and one transferable common share purchase warrant (a "Warrant"). Each Warrant is exe
--->rcisable to acquire one common share of Medallion at an exercise price of $0.15 until July 26, 2021. The proceeds of t
--->he placement will be used to further the metallurgical test program that Medallion has undertaken with the Saskatchewa
--->n Research Council; customer and monazite feedstock supply development work; jurisdiction and site analysis for the Co
--->mpany's proposed rare-earth extraction plant; and working capital.  

The securities offered have not been nor will they be registered under the United States Securities Act of 1933, as am
--->ended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit 
--->of US persons, absent such registration or an exemption from registration. This press release shall not constitute an 
--->offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in whi
--->ch such offer, sale, or solicitation would be unlawful.

About Medallion Resources
Medallion Resources is developing an approach for low-cost, near-term, rare-earth element (REE) production by exploiti
--->ng monazite. Monazite is a rare-earth phosphate mineral that is widely available as a by-product from mineral sand min
--->ing operations. REEs are critical inputs to electric and hybrid vehicles, electronics, imaging systems, wind turbines 
--->and strategic defense systems. Medallion is committed to following best practices and accepted international standards
---> in all aspects of mineral transportation, processing and the safe management of waste materials. More about Medallion
---> (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact: Donald Lay, President & CEO at +1.604.681.9558 or info@medallionresources.com

- END - 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX 
--->Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Medallion management takes full responsibility for content and has prepared this news release. Some of the statements 
--->contained in this release are forward-looking statements, such as statements that describe Medallion's plans with resp
--->ect to the completion and the use of the proceeds of the Private Placement. Since forward-looking statements address f
--->uture events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks 
--->related to market conditions and regulatory approval and other risks outlined in the Company's management discussions 
--->and analysis of financial results. Actual results in each case could differ materially from those currently anticipate
--->d in these statements. Also, in order to proceed with Medallion's plans, additional funding will be necessary and, dep
--->ending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion's
---> plans. These forward looking statements are made as of the date of this press release, and, other than as required by
---> applicable securities laws, Medallion disclaims any intent or obligation to update publicly any forward looking state
--->ments, whether as a result of new information, future events or results or otherwise.