MEGA ANNOUNCES MAJOR MINERALIZATION EXTENSIONS AND CONTINUES TO DEFINE GOLD MINERALIZATION AT THE MONUMENT BAY PROJECT

Thunder Bay, Ontario

June 13, 2011 Shares Issued: 76,256,980

Mega Precious Metals Inc. (MGP:TSX-V) (“Mega”) is pleased to report that definition and step out drilling during the winter/spring drill program has extended 7 of the 18 mineralized zones by as much as 500 metres along strike and upwards of 150 metres down plunge. In addition, the program further delineated four (4) new mineralized structures.

Robust widths and grades are continuing to be encountered as ongoing drilling has increased the mineralized zones both westward and to depth as demonstrated by the most recent drill holes to date. Highlights of the program include C zone TL11-380 which intersected 15.98 g/tonne over 1 metre at a depth of 425 metres below surface and TL -11-385 which intersected 16.15 g/tonne over 0.3 metres at a depth of 567 metres, as well as TL -11-380 which intersected 9.51 g/tonne over 1.3 metres at a depth of 499 metres below the surface on the B zone.

A summary of the ongoing drilling results are listed below:

MEGA 2011 Monument Bay Drill Results
HOLE#	ZONE	FROM (m)	TO (m)	INTERCEPT (m)	Au Grade (g/t)

TL-11-377	B	221.00	223.00	2.00	5.91
Incl	B	221.00	222.00	1.00	10.60
TL-11-380	B	423.20	425.20	2.00	9.15
Incl	B	424.20	425.20	1.00	15.98
TL-11-380	B	497.50	500.00	2.50	6.70
Incl	B	497.50	498.80	1.30	9.51
TL-11-381	X2	325.60	326.10	0.50	3.95
TL-11-382	X2	474.00	478.00	4.00	4.63
Incl	X2	475.00	477.00	2.00	6.63
TL-11-383	A	447.70	449.60	1.90	5.00

TL-11-385	E	473.00	484.00	11.00	1.90
Incl	E	473.00	474.00	1.00	4.49
Incl	E	481.10	482.00	0.90	6.11
TL-11-385	C	567.70	595.00	3.00	2.23
Incl	C	567.70	568.00	0.30	16.15
TL-11-386	C	97.30	100.00	2.70	2.40
Incl	C	98.00	99.00	1.00	3.41
	Oogath	104.00	105.00	1.00	3.36
TL-11-387	C	69.00	74.00	5.00	2.29
Incl		71.00	74.00	3.00	3.04

Note: True Width is approximately 75% of Intersection Width
Minimum Reported Interval of ≥ 5 gram-metres using a variable cut-off grade of 0.8 g/t to 0.4 g/t
TL – 11-379 was abandoned at 216 metres due to drill rods being stuck in faulty ground

Mr. Jim Rogers commented “The results continue to demonstrate the size and strength of the gold mineralization of the Monument Bay Project. The success of our exploration efforts has extended known zones and discovered new zones thus creating a solid foundation for Mega to expand the quality and quantity of gold resources at the Monument Bay project. Mega continues to execute our plan to advance the project towards under ground (UG) development in 2012 with the goal to achieve positive cash flow by 2014.”

The winter/spring drill program has effectively met the recommendations made by Beacon Hill Consultants (1988) Ltd. ("Beacon Hill") of Vancouver, B.C., in the NI 43-101 resource estimate that was completed February 17, 2009. Over 26 intercepts of Mega’s 2011 drill program have further defined the A, B, C, E, G, X2 and the new “Oogath” zone. Collectively, these intercepts will significantly contribute to an improving understanding that will add both tonnage and ounces towards an updated NI 43-101 resource estimate that is planned to be completed in early July 2011.

The Monument Bay deposit is open in all directions and Mega management firmly believes that their Monument Bay property is part of a much larger gold system that encompasses the Twin Lakes/Stull Lake gold bearing structures. Current work by the company involves continuing to expand and upgrade the resource with summer/fall drill program(s) of approximately 15,000m of diamond drilling focused on deepening, laterally extending and discovering new zones. Mega’s focus is to continue to grow and improve the quality of the current UG resource and introduce open pit potential for the deposit.

Glen Kuntz, Chief Operating Officer (COO), is the Qualified Person for the information contained in this press release and is a Qualified Person defined by National Instrument 43-101. Glen was Sr. Resource Geologist at the Campbell Gold Mine and Global Spatial Data Systems Coordinator for Placer Dome, Vice President Enterprise Mining Solutions for Runge Ltd., and most recently, Vice President Global Operations for GMC Global.

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
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.