January 5, 2012 (KIRKLAND LAKE, ONTARIO): Mistango River Resources Inc. (CNSX: MIS) (GLRAF: OTC) (the “Company”) is pleased to report the following drill results on their 100% owned Omega Mine Property and exploration outlook for 2012

Drilling Highlights

Hole OM-11-53from 492 m to 499m 4.889 g/t Au over 7 metres (including 7.730 g/t au over 4 m)

Hole OM-11-64from 697 m to 709m 1.845 g/t Au over 12 metres (including 2.354 g/t Au over 7 m)

Mistango River Resources Inc.-Omega Property-2011 Diamond Drilling-Significant Composites

Table No. 1b (Dec.31, 2011)

All holes are uncut and over core length; core length is estimated 50-90% of true width; 1 g/t Au multiplied by 0.0292 equals troy ounces per short ton (to convert from metres to feet multiply by 3.2808). VG: visible gold.

QA/QC was followed in sampling the core. The core is sawed in half for sampling. Standards, blanks and duplicates were inserted into the stream of core samples every 20 metres. The core was assayed at Expert Laboratory Inc. at Rouyn-Noranda, PQ using 30 gram samples. The core samples were analyzed using the fire assay method and AA finish. Assays of 1 g/t Au and greater are re-assayed using the gravimetric method.Fred Sharpley, P.Geo is the QP for the Omega Property.

For a complete list of all holes drilled to date and for results of the historical drill holes on the Lake and South West part of the Omega Mine property please see the Hinze report dated 1984 under the Omega project on the compan’s website

Exploration Review and Outlook

Omega Project

To date a total of 66 drill holes have been completed consisting of 17,352 metres. Magnetic, IP and geochemical surveys have been completed on the mine group and the Lake claim along with limited trenchingwhich outlined wide areas of disseminated type material containing sulphides, galena, molybdenite and anomalous gold.Additional work is required to fully evaluate this area.

Anticipated work for 2012 is to complete Geophysics consisting of deep IP and Magnetics on the Omega South West area and some limited drilling on the Lake claim.

Drilling will continue on the Omega Mine area concentrating on the main mine area so as to complete a resource estimate as soon as possible. Drilling will resume January 9th 2012 utilizing 2 drills.

Sackville Project

During 2011 extensive geochem sampling consisting of soils and tills were completed with very encouraging results. A follow up IP survey was completed to fill in areas not previously covered with several anomalies located in areas of high Zinc and Gold geochem results. It is anticipated that trenching of these IP anomalies will be undertaken this coming spring.

Kirkland West Project (Eby and Baldwin) and Casa Berardi

All these properties are in good standing for several years and they all deserve more work, but no work is anticipated this year as the major focus will be on building resources at the Omega Mine property.

This news release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that Mistango believes, expects or anticipates will or may occur in the future including, without limitation, statements relating to Mistango’s anticipated use of proceeds from the Offering, are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of Mistango based on information currently available to Mistango. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Mistango to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Mistango. Factors that would cause actual results or events to differ materially from current expectations include, but are not limited to, Mistango’s decision to cancel its exploration program on its Omega gold property.

For further information please contact

Robert J. Kasner, President & CEO

Telephone 705-567-5351

E-mail: bobkasner@yahoo.com

Donald Kasner, Investor Relations

Telephone: 705-570-1019

E-mail: drkkasner@yahoo.com

Website: www.mistangoriverresources.ca

The CNSX has not reviewed and does not accept responsibility for the adequacy of this release