Medgold Resources Corp. (TSX-V: MED), the European focused gold exploration company, announced today that it acquired 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 President, Dan James, said: "This acquisition - our first since listing on the TSX-V - underlines our aggressive growth strategy. The region is extremely exciting with known jasperoid (silicified limestone) occurrences observed at both Frassine and Grasceta with historically-reported high gold grades. We are looking forward to exploring these two licences as well as our Pietratonda licence and drill testing the most prospective gold targets."