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MGMX -- MGM Mineral Resource, Inc.
Com ($0.001)

COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:

MGM Mineral Resources Begins Trading Its Shares on the OTC Pink Sheets Under the Symbol MGMX

TORONTO, May 01, 2006 (MARKET WIRE via COMTEX) -- Metro Gold Mines Mineral Resources Inc. (OTC: MGMX), a precious metal mining company focused on the development of producing properties internationally, announces that it has begun to trade its shares on the OTC Pink Sheets under the symbol of MGMX.
"We are happy to finally be trading and we feel that our exposure as a public company will only grow among investors as we begin to outline our business plan and growth strategy. There are several rich properties that MGM is interested in and I believe that in the current market climate our shareholders will be quite satisfied and maybe even a little surprised by our growth." (Ken Lamb, President)

As President of the company, Mr. Ken Lamb, possesses a strong sales and marketing background, along with extensive and diverse entrepreneurial / leadership abilities have allowed him to excel in various successful marketing, consulting and fundraising corporations. Aside from being President and Manager of several innovative companies, Mr. Lamb has served as a Professor of Academics for over twenty years and has been an instrumental key for implementing various breakthrough concepts and administrative ideas for MGM Mineral Resources. With excellent prospects all over the world, Mr. Lamb, along with Metro Gold Mines Mineral Resources are moving forward to be one of the major precious metal producers in the world.

The Company's current focus will be on acquiring and developing producing precious metal properties located in South America. It is MGM's goal to be a world-class mining company with efficiency in all areas, not only profits, but of the employees' well-being, social aid, and environmental management. The company's long-term goal is to expand and consolidate with the acquisition of other rich mines. This coupled with management's contacts and reputation in the region will allow it to assemble a world-class property portfolio years ahead of what could be accomplished and gained by outsiders.

"Our board and our company has developed a good reputation and prestige in South America and we wish to leverage on this goodwill and hopefully turn it into acquisitions that may turn out to be quite lucrative." (Jairo Giraldo, Chairman and C.E.O.)

As C.E.O., Mr. Giraldo's background is in Mining Engineering, having graduated from the National University of Colombia (Universidad Nacional) as well as certified in Mining Management with the American Management Asociation (A.M.A.). He worked for over ten years with the Ministry of Mines and Energy of Colombia, registering more than forty years of experience within the mining industry overall. Mr. Giraldo has served as a renowned professor throughout Colombian institutions, including SENA. Although his experience is quite diverse, he is a specialist with emeralds, gold, silver and platinum mines. He has been a special advisor for the Colombian government and helped establish the mining regulations that exist today within the country.

The Company is currently in the later stages of negotiations with several gold and silver mines and will announce these acquisitions once they have been fully completed, as well as obtaining all necessary mining and land rights.

About MGM Mineral Resources

Metro Gold Mines Mineral Resources S.A. is an independent precious metal mining company engaged in the acquisition and development of an impressive portfolio of exploration and production properties internationally. The Company's staff consists of economists, senior geologists, mining engineers, and experts in environmental management, all of them with extensive experience resulting in the best knowledge to explore and develop the interests of the company.

MGM's initial focus will be on the exploration and procurement of gold and silver in the richest and most traditional Colombian "gold zone." This region is comprised of the nearby municipalities of El Bagre, Zaragoza, Segovia and Remedios. The mining in this region, which is located approximately 200 kilometers from the large city of Medellin, is rich in gold and history. The emphasis in the recovery of gold dates back to the pre-Columbus period and was described by the Spanish settlers as one of the richest lands that had been discovered in the world.

Colombia is seen today as one of the countries in the region with excellent potential given the sustained growth of its economy throughout the past five decades. The growth rate and most macroeconomic variables have been recording a favorable behavior, thus promoting an excellent investment climate.

The current macroeconomic stability is to a great extent due to the growing confidence of the private sector in the work carried out by the Government to improve the security conditions throughout the national territory. The impact of these efforts has been a higher economic growth rate.

FORWARD-LOOKING STATEMENTS:

This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company.



Contact:
Mr. Kenneth Lamb
President
905-704-8026

SOURCE: MGM Mineral Resources




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SUBJECT CODE: Manufacturing and Production:Mining and Metals