Medgold Resources Corp. announced the completion of metallurgical test work from the Barje Prospect, within the Tlamino Project in southern Serbia. Highlights of this work are as follows: Conventional flotation has produced a concentrate grading 48.9 g/t Au and 824 g/t Ag with recoveries to concentrate of 83.4 % for gold and 82.4% for silver from a composite sample representing the main hydrothermal breccias; this material type hosts approximately 72% of the total gold inventory reported in the current Mineral Resource Estimate for the Barje Prospect. A second composite sample representing the mineralized schist immediately above the hydrothermal breccias produced a flotation concentrate grading 24.4 g/t Au and 238 g/t Ag with recoveries to concentrate of 71.2% for gold and 79.2% for silver; this second material type hosts approximately 16% of the total gold inventory reported in the current MRE. These highly positive results will be incorporated into the Preliminary Economic Assessment (the "PEA")for the Barje Prospect currently in progress. It is anticipated that the results of the PEA will be reported in the current quarter. The Company also announced that with effect of October 12, 2020 it is in receipt of new Exploration Licenses from the Serbian Ministry of Mining and Energy in respect to the Donje Tlamino and Surlica Dukat properties that together comprise the Tlamino Project. These Licenses are each valid for terms of three years and are renewable for terms of three and then two years.