Medgold Resources Corp. announced the successful issuance of the Grasceta gold exploration licence, located in southern Tuscany, Italy. The acquisition of the 8 square kilometre Grasceta licence, which adjoins the company's Frassine licence, is part of the company's strategy to build a portfolio of European gold projects with potential to host multi-million ounce deposits.

Medgold has commenced exploration in the area with field crews undertaking detailed mapping, grid-rock sampling and channel-chip sampling. Results from this phase of exploration are expected in late February, 2013.