TMX group

Mar. 9, 2010 (Filing Services Canada) -- Mega Precious Metals Inc.  (MGP - TSX Venture), announced today that 2,154,587 common shares of Mega and warrants to purchase up to an aggregate of 222,750 common shares of Mega will be released from escrow as a result of Mega's previously-announced graduation to Tier 1 issuer status on the TSX Venture Exchange (the "Exchange").  Following the release of such securities, there will not be any securities of Mega held in escrow pursuant to the policies of the Exchange.  The number of outstanding common shares of Mega will not change as a result of the escrow release.

Mega Precious Metals Inc. is a well financed Canadian-based mineral exploration company with several projects in Northwestern Ontario, Nunavut and the Yukon. Mega is committed to an accelerated growth strategy and is backed by a team of experienced mining experts and a strong financial position. Mega 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  


For further information, please contact:

Mega Precious Metals Inc.
Jim Rogers, P. Geo, President and Chief Executive Officer
O: 807-766-3380
TF: 877-592-3380
info@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.




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