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File: MDL PR Private Placement Close April 27 2018 - Final.docx

FOR IMMEDIATE RELEASE
April 27, 2018

NOT FOR RELEASE IN THE UNITED STATES

Medallion Resources Closes 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, further to its April 11, 2018 announcement, it has c
--->losed the final tranche of its $500,000 non-brokered private placement (the "Offering"), for gross proceeds of $50,000
--->. 
Medallion is pursuing production of rare earth elements (REE) by sourcing and processing the by-product mineral monazi
--->te, which is rich in the REE elements neodymium and praseodymium, collectively also known as "NdPr". NdPr is the core 
--->input material for lightweight, powerful rare earth permanent magnets, which are facing increased demand for their use
---> in vehicle electrification, wind power generation and robotics.
Pursuant to the final tranche closing, Medallion has issued an aggregate of 500,000 units (each a "Unit") to investors
---> of the Offering at a price of $0.10 per Unit, each Unit consisting of one common share and one transferable common sh
--->are purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one common share of Medallion at an exercis
--->e price of $0.15 until April 26, 2021. In respect of certain subscriptions in the Offering the Company paid $400 of fi
--->nders' fees to qualified finders, representing 8% of the gross proceeds and also issued 4,000 finder warrants, each fi
--->nder warrant giving the finder the right to acquire one common share of Medallion at an exercise price of $0.10 until 
--->April 26, 2020. The Company also issued 6,000 Units in lieu of cash compensation representing 8% of the gross proceeds
---> in respect of certain subscriptions. 
Proceeds of the Offering will be used to further the metallurgical test program that Medallion has undertaken with the
---> Saskatchewan Research Council; additional customer and monazite feedstock supply development work; jurisdiction and s
--->ite analysis for the Company'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 pursuing near-term magnet metal production, firstly in North America, by exploiting by-product 
--->monazite. Monazite is a rare earth element (REE) phosphate mineral containing significant amounts of the key magnet me
--->tals neodymium and praseodymium (NdPr). Ndpr is the key input material for the high-powered permanent rare earth magne
--->ts required for growing demands of vehicle electrification, wind power generation and robotics. Monazite is widely ava
--->ilable as a by-product from heavy mineral sand mining operations and has a history as a commercial REE resource and we
--->ll-understood metallurgy. Medallion is committed to following best practices and accepted international standards in a
--->ll aspects of mineral transportation, processing and the safe management of waste materials. More about Medallion can 
--->be found at medallionresources.com.   
Contact: Donald Lay, President & CEO at +1.604.681.9558 or info@medallionresources.com. 
- END -
 
Medallion management takes full responsibility for content and has prepared this news release. Neither TSX Venture Exc
--->hange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accep
--->ts responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are f
--->orward-looking statements, such as statements the use of the proceeds of the Offering. Since forward-looking statement
--->s address future 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 d
--->iscussions and analysis of financial results. Actual results in each case could differ materially from those currently
---> anticipated in these statements. Also, in order to proceed with Medallion's plans, additional funding will be necessa
--->ry and, depending 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 lo
--->oking statements, whether as a result of new information, future events or results or otherwise.