MDL Medallion Resources Ltd

Medallion Resources Ltd (TSX VENTURE:MDL) (OTCQX:MLLOF) ("Medallion" or the
"Company"), is focussed on re-establishing monazite as a significant economic
mineral and major source of rare earths, and today provided an update.


Medallion's top operational focus at this time is to secure monazite feed for
its proposed Oman facility. Negotiations with a number of heavy-mineral-sands
producers and developers are going well; although, securing these agreements has
taken longer than anticipated. The Company can confirm that sufficient
quantities are available, both as stockpiles and from ongoing production
streams, under reasonable terms for long-term agreements. Within the
heavy-mineral-sands business, there is a growing awareness that monazite is an
important economic source of rare earths and major producers are seeking
purchasers with viable business plans. Producers seek a reliable purchaser to
safely process monazite in a well-regarded jurisdiction, such as the Middle
East, and this matches the Company's strategy.


Medallion continues its initial activities with both Arab Mining Company and
Takamul Investment Company, with whom Medallion has established Memorandums of
Understanding (MOUs) to investigate the establishment and investment in a
monazite-based rare-earth processing facility in the industrial city of Duqm,
Oman. 


Medallion, on a non-exclusive basis, has also engaged an individual for securing
equity funding in the Arab Gulf States. This will capitalize on the local media
and business interests in rare-earth production, which were brought about by
Medallion's initiatives and relationships in the region. 


About Medallion Resources

Led by Dr Bill Bird and supported by an experienced technical team, the Company
focuses on low-cost, near-term, rare-earth production opportunities using the
rare-earth mineral monazite, which is available as a by-product from existing
mining and mineral-sands sources principally in the Indian Ocean basin.
Medallion, partnered with Takamul Investment Company, is currently evaluating a
proposal to import monazite feedstock and produce rare-earth products at a
proposed processing facility in the industrial city of Duqm, Oman. Rare earths
are used in critical components for virtually all computing and mobile
electronic products, as well as wind turbines, electric and hybrid vehicles, and
strategic defense systems. Medallion is committed to following best practices
and accepted international standards in all aspects of mining, mineral
processing and the safe management of waste materials. More about Medallion
(TSX-V: MDL; OTCQX: MLLOF; Frankfurt: MRD) can be found at
medallionresources.com.


Medallion management takes full responsibility for content and has prepared this
news release. 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. Some of the
statements contained in this release are forward-looking statements, such as
statements relating to completion of transactions under the MOUs, completion of
monazite feed agreements, and estimates and statements that describe Medallion's
future exploration, production and financing plans, objectives or goals,
including words to the effect that Medallion or management expects a stated
condition or result to occur. Since forward-looking statements address future
events and conditions, by their very nature, they involve inherent risks and
uncertainties, including the risks inherent in completing complex business
arrangements in international jurisdictions 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 anticipated in
these statements. Such risks include expectations that may be raised by
discussing potential business, acquisitions or development plans. Also, in order
to proceed with Medallion's plans, additional funding will be necessary and,
depending on market conditions, this funding may not be forthcoming on a
schedule or on terms that facilitate Medallion's plans.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Medallion Resources Ltd.
Donald Lay
President
+1.604.681.9558
info@medallionresources.com


Hamza Thindal Capital Corp.
Kam Thindal
+1.888.371.9098

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