Medallion Resources Announces the Passing of Director and Former CEO Don Lay

FOR IMMEDIATE RELEASE

June 14, 2021

MEDALLION RESOURCES ANNOUNCES THE PASSING OF DIRECTOR AND FORMER CEO DON LAY

Vancouver, BC – Medallion Resources Ltd. (TSX -V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) – “Medallion”

or the “Company”) , advises that Mr. Don Lay, Director, VP Corporate Development and Former CEO of the

Company, passed away unexpectedly this weekend. Mr . Lay was a strong voice in the industry and CEO of

Medallion from 2014 until May 2020.

Rod McKeen, Chairman of the Board , said, “It is with tremendous sadness that we share the passing of our

colleague and friend Don Lay. Don was the strength and drive behind Medallion for many years, and laid the

groundwork for the Company. He will be greatly missed.”

The Board of Medallion would like to extend their sincerest condolences to Don’s family at this difficult time.

For more information please contact CEO Mark Saxon at [email protected].

About Medallion Resources

Medallion Resources has developed a proprietary process and related business model to achieve low -cost, near-term,

rare-earth element (REE) production by exploiting monazite. Monazite is a rare -earth phosphate mineral that is widely

available as a by -product from mineral sand mining operations. Furthermore, Medallion has recently licensed an

innovative REE separation technology f rom Purdue University which can be utilized by Medallion and sub- licensed by

Medallion to third party REE producers.

More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRDN) can be found at medallionresources.com.

Contact(s):

Mark Saxon, President & CEO

+1.604.681.9558 or [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX

Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.