John F. O'Donnell Appointed Montana Gold Chairman of the Board

LONDON, ONTARIO, Jun 04, 2014 (Marketwired via COMTEX) -- Montana Gold Mining Company Inc. ("MGM" or the "Company") (cse:MGM) has appointed John F. O'Donnell, BA (Economics), LLB as Chairman of the Company's Board of Directors. In addition, the Company has recently closed on a $115,025 tranche of private placement financing, reduced current payables through write-offs or debt conversion, and has granted incentive stock options.

Mr. O'Donnell is counsel to the Toronto law firm of Stikeman Keeley Spiegel Pasternack LLP and is primarily involved in the field of corporate and securities law. Mr. O'Donnell has an extensive background serving as counsel to, or as a director, officer, or chairman of several publicly listed technology and resource companies. Currently, Mr. O'Donnell serves as a director of POET Technologies Inc. CA:PTK -2.99% (otcqx:POETF) where he is also Chairman of the Corporate Governance and Nominating Committee.

Edward Ellwood, President of MGM comments: "We are delighted that John is joining as Chair. He is well known and well regarded on Bay Street. The experience and insight that John can bring to this company is a major plus. As we advance our projects, particularly the Golden Trail project in Nevada, critical decisions will become necessary and John is ideal to lead in that regard."

The Company recently closed on a tranche of a non-brokered private placement financing totaling $105,025 and consisting of units priced at $0.05 per unit. Each unit consists of one common share and one common share purchase warrant exercisable for three years at $0.10. The Company has also filed a notice to raise up to an additional $600,000 on similar terms and on a brokered or non-brokered basis.

The Company's payables are being reduced through write-offs and conversion of some debt into common shares. Three directors who are also officers elected to permanently opt out of eligibility for director fees effective June 1, 2014 and have requested the Company write-off a total of $12,250 in director fees owed to them in this regard during this second quarter. These directors also previously requested the write-off of $203,885 owed to them in management fees which was done during the year ended December 31, 2013. In addition to these write-offs, $150,000 owing in management fees was converted to common shares at the market price of $0.065 per share.

The Company has recently granted a total of 1,150,000 incentive stock options to independent directors and to consultants of the Company. These options are exercisable over 5 years at an exercise price of $0.065. One consultant receiving a grant of 200,000 options on these terms was Graham Murray who provides market making services to the Company.

An application for an exploration drilling permit on the Company's Golden Trail Property in Elko County, Nevada ("Golden Trail") is in process with the Bureau of Land Management. When the application process is completed, the Company will make an announcement.

The Company will be displaying the Golden Trail project at the Elko Mining Expo on June 5 and 6, 2014 in Elko, Nevada. The Company President, Edward Ellwood, MBA will be in attendance along with the Senior Project Geologist, Richard Capps, PhD.

The Golden Trail is situated on the North Eastern Nevada Gold Trend (also called the Peqoup Gold Trend), a recently identified gold trend in north-eastern Nevada that in 2011 saw Newmont Mining Company ("Newmont") take over the former owner of the Long Canyon property, 52 miles south of Golden Trail for a reported $US2.3 Billion. Subsequent to Newmont's acquisition of Long Canyon, Newmont staked 211 mineral claims totaling some 4,300 acres that completely surround the Company's Golden Trail Project, which consists of 16 contiguous mining claims that total about 320 acres.

Montana Gold Mining Company Inc. is a reporting issuer in good standing in the Province of Ontario whose common shares are listed on CSE (symbol:MGM). There are 39,281,007 common shares issued and outstanding in the capital of the Company, prior to any issuances from the private placement discussed herein.

CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.