Mega Moly Inc. Elects New Board Members

Aug. 20, 2010 (Filing Services Canada) -- MegaMoly Inc.  (MGY - TSX Venture), (the "Company") advises that at its Annual and Special Meeting of shareholders, three new Directors have been elected to the Board.

The new members are:

Richard Patricio
Mr. Patricio is VP Legal and Corporate Affairs of Pinetree Capital Ltd.  He has held that position since October 2005.  Mr. Patricio is also a Director of Mega Precious Metals, Quetzal Energy Ltd., X-Terra Resources, Dejour Enterprises Ltd., Titan Uranium and U3O8 Corp.  Additionally, Mr. Patricio is Executive Vice President of Mega Uranium Ltd. And VP Legal and Corporate Affairs of Brownstone Ventures Inc.

Hein Poulus
Mr. Poulus is a lawyer and Partner with Stikeman Elliott LLP.  He is Chairman and Director of Resinco Capital Partners Inc., Chairman and Director of Finavera Renewables Inc., Director of Tournigan Energy Ltd., and a Director of Sheen Resources Ltd.

Peter Mullens
Mr. Mullens is a Director of Ironbark Pacific Pty Ltd.  Mr. Mullens is also a Director of Lydian International Limited.  Over the course of his distinguished career as a geologist he has been associated with a number of companies to include Laramide Resources where he was VP Exploration from September 2001 to June 2005 and a Consultant Geologist with Ironbark Geoservices from January 1999 to September 2001.  He is a past Director o Goldgroup Mining Ltd. (formerly Sierra Minerals Inc.).

In addition to these new appointments, Philip Williams, Jon Lever and John Icke were re-elected to the Board.  At the Board meeting immediately following the shareholder meeting, John Icke was elected Chairman.

Commenting on the Board changes Mr. Icke stated, "I am delighted that Messrs. Patricio, Poulus and. Mullens have agreed to join the Board.  On an individual basis they have immense experience and will offer a broad range of appropriate skills with which to enhance the Board and in turn, assist in the development of the Company.  I would also like to take this opportunity to thank the out-going Directors namely Randy Clifford and Stephen Stine for their contributions to the Company during their tenure."  Mr. Icke then went on to state, "With the recent announcements concerning the realignment of the Company's strategic vision we are now blessed with very energetic, capable and highly qualified Board members who are determined to accelerate the development of the organization to significantly enhance enterprise value."


On behalf of the Board of Directors
"John Icke"
Chairman, Interim Chief Executive Officer


For further information, please contact:

Nicola Street Capital
Tel:  604.569.0056


The TSX Venture Exchange has not reviewed and does not accept
Responsibility for the adequacy or accuracy of this release



Source: MegaMoly Inc. (MGY - TSX-V)
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