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Medallion Resources Ltd (2)
Symbol MDL
Shares Issued 29,710,472
Close 2018-04-26 C$ 0.10
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ORIGINAL: Medallion closes $50,000 final tranche of financing

2018-04-27 15:33 ET - News Release

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

April 27, 2018


Medallion Resources Closes Private Placement

Vancouver, BC - Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) - "Medallion" or the "Company"), pu
--->rsuing smart production of magnet metals, today announced that, further to its April 11, 2018 announcement, it has close
--->d 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 monazite
--->, which is rich in the REE elements neodymium and praseodymium, collectively also known as "NdPr". NdPr is the core inpu
--->t material for lightweight, powerful rare earth permanent magnets, which are facing increased demand for their use in ve
--->hicle 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 o
--->f the Offering at a price of $0.10 per Unit, each Unit consisting of one common share and one transferable common share 
--->purchase warrant (a "Warrant"). Each Warrant is exercisable to acquire one common share of Medallion at an exercise pric
--->e of $0.15 until April 26, 2021. In respect of certain subscriptions in the Offering the Company paid $400 of finders' f
--->ees to qualified finders, representing 8% of the gross proceeds and also issued 4,000 finder warrants, each finder warra
--->nt giving the finder the right to acquire one common share of Medallion at an exercise price of $0.10 until April 26, 20
--->20. 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 S
--->askatchewan Research Council; additional customer and monazite feedstock supply development work; jurisdiction and site 
--->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 amen
--->ded, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of U
--->S 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 which 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 mo
--->nazite. Monazite is a rare earth element (REE) phosphate mineral containing significant amounts of the key magnet metals
---> neodymium and praseodymium (NdPr). Ndpr is the key input material for the high-powered permanent rare earth magnets req
--->uired for growing demands of vehicle electrification, wind power generation and robotics. Monazite is widely available a
--->s a by-product from heavy mineral sand mining operations and has a history as a commercial REE resource and well-underst
--->ood metallurgy. Medallion is committed to following best practices and accepted international standards in all aspects o
--->f mineral transportation, processing and the safe management of waste materials. More about Medallion can be found at me
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 Excha
--->nge nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts r
--->esponsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward
--->-looking statements, such as statements the use of the proceeds of the Offering. Since forward-looking statements addres
--->s 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 discussions a
--->nd analysis of financial results. Actual results in each case could differ materially from those currently anticipated i
--->n these statements. Also, in order to proceed with Medallion's plans, additional funding will be necessary and, dependin
--->g 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 applicab
--->le securities laws, Medallion disclaims any intent or obligation to update publicly any forward looking statements, whet
--->her as a result of new information, future events or results or otherwise.

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