MGold Resources Inc. (TSXV:MNI) signed a letter of intent to acquire 92.27% working interest in a suspended D-3 Oil Unit in central Alberta for CAD 0.5 million on January 4, 2013. MGold will be pursuing a variety of financing opportunities to fund this project. The transaction is subject to a number of conditions including, negotiation and execution of a definitive agreement, receipt of all required regulatory approvals, including approval of the TSX Venture Exchange and completion of due diligence investigations of MGold.

The transaction is expected to complete on March 31, 2013.