Mega Appoints Glen Kuntz as President and Interim CEO

Mega Precious Metals Inc. (MGP:TSX-V) ('Mega?) is pleased to
announce the appointment of Mr. Glen Kuntz, P.Geo. to the positions of
President and Interim Chief Executive Officer effective immediately as
Mr. James Rogers has decided to resign from his current position and
from the board for personal reasons. Mr. Rogers will remain with the
Corporation in a technical consulting capacity. Mega wishes to thank Jim
for his generous contribution to the company and the integral part he
has played in the company's growth and successes.

Mr. Kuntz has held the role of Chief Operating Officer with Mega since
February 2011 and has more than 20 years of experience in mining,
exploration, financings and business development including Placer Dome,
Runge, GMC Global, Noranda, Rea Gold and Vale. He brings an abundance of
experience gained from over 200 projects at all stages of development
located in more than 20 countries.

Mr. Kuntz commented, 'I am excited about the opportunity to lead Mega
through this important growth phase. Mega has two active and growing
projects in Canada (Monument Bay and North Madsen Projects), is
well-funded for ongoing exploration and will continue to develop these
projects in a timely fashion. We look forward to growing both the Red
Lake and Monument Bay Resources well beyond its current resource base.
Concurrent with ongoing exploration, we will continue to develop these
known resources and will expand these assets with our strong pipeline of
well-defined exploration targets. Furthermore, the company is currently
updating its combined NI 43-101 compliant Measured and Indicated
resources of 36M tonnes at 1.86 g/t equating to 1.98 million gold ounces
and the Inferred resources of 25M tonnes at 2.81 g/t equating to 2.11
million gold ounces at both of its key projects to ensure the company is
properly valued; as such we are well-positioned to add significant
shareholder value in the near future.

Mega has assembled an excellent team to work together to continue to
deliver results. The gold markets continue to reward new discoveries and
our investors can look forward to a steady pace of activity and regular
communications.'

Mega Precious Metals Inc. is a well financed Canadian-based
mineral exploration company with several projects in Northwestern
Ontario, Manitoba and Nunavut. The Company is committed to an
accelerated growth strategy and is backed by a team of experienced
mining experts and a strong financial position. The Company is poised
for rapid expansion through quick response to new opportunities and
changes in the market. Mega′s common shares trade on the TSX Venture
Exchange under the symbol MGP.

For further information and presentation material, please review the
Mega website at www.megapmi.com

Forward-looking Statements

Certain statements in this press release relating to the Company′s
exploration activities, project expenditures and business plans are
'forward-looking statements' within the meaning of securities
legislation.The Company does not intend, and does not assume any
obligation, to update these forward-looking statements.These
forward-looking statements represent management′s best judgment based on
current facts and assumptions that management considers reasonable. The
Company makes no representation that reasonable business people in
possession of the same information would reach the same conclusions.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements.In particular,
fluctuations in the price of gold or in currency markets could prevent
the Company from achieving its targets.Readers should not place
undue reliance on forward-looking statements. More information about
risks and uncertainties affecting the Company and its business is
available in Mega Precious Metal′s filings which are posted on sedar at www.sedar.com.

There is no guarantee that drill results reported in this news
release will lead to the identification of a deposit that can be mined
economically, and further work is required to identify a reserve or
resource.

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.

Mega Precious Metals Inc.

Glen Kuntz, President and Interim
Chief Executive Officer

O: 807-766-3380

TF: 877-592-3380

info@megapmi.com