TMX group

Mega Retains Proconsul Capital, Investor Relations Consultants

Thunder Bay, Ontario CANADA, October 03, 2011 /FSC/ - Mega Precious Metals Inc.  (MGP - TSX Venture)("Mega"), is pleased to announce that it has retained Proconsul Capital of Toronto, Ontario to assist the Corporation in its investor relations to potential investors current shareholders.  Proconsul Capital ("Proconsul"), founded by its principals, Andreas Curkovic and Martti Kangas, provide investor relations services to Canadian publically listed companies. Proconsul will focus on editing and writing of press releases; editing, writing, and managing of communications materials such as investor presentations; arranging and attending meetings with professional investors; ongoing contact and broadening relationships with the professional investment community on Mega's behalf.

Proconsul will receive a monthly retainer of $5,000.  The agreement will progress on a monthly basis, renewing automatically, and may be terminated by either party by two-week written notice.  Proconsul, or its principals do not engage in market making activities and will restrict its services to public relations and investor relations counseling.

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
  

For further information, please contact:

Mega Precious Metals Inc.
Jim Rogers, President and Chief Executive Officer
807-766-3380
ir@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.



To view this release as a web page, please click on the following link:
http://www.usetdas.com/pr/mega10032011.htm  



Thunder Bay, Ontario
Shares Issued: 76,256,980




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