Medallion Resources Engages Hamza Thindal Capital to Provide Investor Relations

VANCOUVER, British Columbia, Oct. 24, 2011 /PRNewswire/ -- Medallion Resources Ltd (TSX-V: MDL; OTCQX: MLLOF – "Medallion" or the "Company") is pleased to announce that it has engaged Hamza Thindal Capital Corp. ("Hamza Thindal") to provide investor relations services to the Company.  Hamza Thindal is an established small-cap investor relations firm based in Vancouver, BC and has successfully demonstrated the ability to articulate a company's unique value to the investment community and strategic partners.

"We're looking forward to working with Hamza Thindal Capital as part of our team," said Don Lay, Medallion's President. "They are a group that understands how our novel approach to the rare-earth marketplace provides an interesting opportunity for their investor network."

The investor relations activities to be carried out on behalf of Medallion include developing an investor relations and marketing program, preparing and disseminating corporate data packages and assisting the Company with broker presentations and broker communications.  The engagement is for a term of one year and may be terminated by either party on 30-day written notice. Medallion will pay a monthly fee to Hamza Thindal of $5,000 per month plus expenses incurred on behalf of the Company.  Medallion has also granted Hamza Thindal 200,000 incentive options to purchase shares of the Company at a price of $0.155 per share, for a period of five years.  The options are subject to vesting at 25% after the first three months and 25% every quarter until fully vested.  Both the option and investor relations consulting engagement are subject to the approval of the TSX Venture Exchange.

About Hamza Thindal Capital Corp.

Hamza Thindal Capital Corp. is owned by Dr. Essam Hamza, MD and Mr. Kam Thindal.  The firm works with junior public and private emerging companies to provide Investor Relations, capital-markets advisory and capital-raising services in a variety of industries and sectors.  For additional information please visit: htcapitalcorp.com.

About Medallion Resources

Medallion is rethinking rare earths. Headed by Dr Bill Bird and supported by a first-class technical team, Medallion is well positioned to identify and acquire the world's most promising rare-earth opportunities. Medallion's strategy targets large deposits amenable to straightforward low-cost mining and metallurgical processes that lead to near-term rare-earth production and long-term supply. 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. More about Medallion (TSXV: MDL; OTCQX: MLLOF; Frankfurt: MRD) can be found at medallionresources.com.

Donald Lay, President or Erica C Bearss MBA Manager, Corporate Communications at 604.681.9558 or [email protected]

Medallion Management takes full responsibility for content, prepared this news release. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe medallion's future exploration 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. 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 acquisitions or exploration plans. Also, in order to proceed with Medallion's exploration plans, additional funding is necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion's plans.

SOURCE Medallion Resources