Mahdia Gold Corp MHGPF

11 Apr NR

[investorplus]

MahdiaGold Corp.

Suite 202,A12-1250 Eglinton Avenue West,

Mississauga, Ontario, L5V 1N3

April 11th, 2011

Press Release.FORIMMEDIATE RELEASE

MAHDIAGOLD CORP is currently trading on the CanadianNational Stock Exchange.

MahdiaGold Corp is a publicly listed on the CanadianNational Stock Exchange (CNSX) under the symbol MGD. The company’s website is: www.mahdiagold.com. The website of theCNSX exchange is www.cnsx.ca.

Mahdia Gold Corp is pleased to confirmthe terms of the private placement announced on March 21, 2011. The companywill issue a minimum of 4,800,000 units and a maximum of 14,000,000 units at aprice of
.25 per unit for a minimum CDN $1,200,000.00 in proceeds and amaximum of CDN $3,500,000 in proceeds. Each unit will consist of one commonshare and one-half of one transferable share purchase warrant. Each wholewarrant will entitle the holder to purchase one additional common share at anytime for two years from the closing date at a price of
.45. The warrants willbe subject to forced conversion if the 10-day volume-weighted average tradingprice exceeds
.65 during the period starting 4 months from closing. TheCompany will pay a finder's fee amounting to $32,000 cash and 129,600 shares inthe capital of the company in connection with the private placement.

Mahdia Gold Corp currently has 43,109,820shares outstanding.

For further information contact:

Alan Zaakir by email: [e-mail]

David Bending by email:[e-mail]

NO SECURITIES REGULATORY AUTHORITY ORSTOCK EXCHANGE HAS

APPROVED OR DISAPPROVED OF THEINFORMATION CONTAINED IN THIS

PRESS RELEASE.