TSX-V: MDL VANCOUVER, Aug. 15 /CNW/ - Medallion Resources Ltd (TSX-V: MDL) announces that core drilling is underway at Ocelot site MDL1-06. The Ocelot Gold Project is located 40 kilometres northwest of Austin, Nevada. Medallion has engaged Frontier Drilling of Vancouver, BC to provide core drilling services. Five drill sites and two alternates have been laid out to target deep gold mineralization. The drill holes are planned to exceed 1,000 feet. Core will be logged and split at the Company's field office in Battle Mountain, Nevada. Mineralized sections will be sent for assay and results will be reported at the completion of the five-hole project. The initial five drill holes will test gold targets along deep structures, which are believed to be feeders for the Ocelot surface quartz-adularia hot-springs gold occurrences. The epithermal quartz-adularia gold-exploration model is exemplified by gold deposits such as Midas, Silver Cloud, and deeper portions of Sleeper and Grassy Mountain. Typical of the epithermal quartz-adularia gold model, the Ocelot property contains widespread occurrences of silicification, anomalous gold values and a quartz-adularia hot-springs system. The Ocelot property lies at the intersection of two major Nevada gold trends, the Independence - Crescent Valley Lineament and the Austin-Lovelock mineral belt. Both trends host significant gold deposits and the intersection of the two trends creates an excellent gold-exploration target. The Austin-Lovelock mineral belt is parallel to, and west of the Battle Mountain trend. ON BEHALF OF THE BOARD OF DIRECTORS "William H Bird", PhD, PGeo President & CEO William H. Bird, PhD, PGeo, serves the Board of Directors of the Company as an internal, technically Qualified Person. Technical information in this news release has been reviewed by Dr Bird and prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. This news release was prepared by Company management, who take full responsibility for content. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.