January 20, 2012 (KIRKLAND LAKE, ONTARIO): Mistango River Resources Inc. (CNSX:MIS)(OTC:GLRAF (the “Company”) announces that it has granted an aggregate of 400,000 stock options to the Vice President of the Company. Each such stock option entitles the holder thereof to acquire one Class A subordinate voting share of the Company at an exercise price of $0.25 expiringthirty (30) days after thetermination of the Holder as outlined in the agreementdated January 1, 2012

Mistango is a Canadian based exploration and development company focussing on its Omega Mine project, with other properties in Ontario and Quebec.For additional information about Mistango and its mining properties, please visit Mistango’s web site www.mistangoriverresources.ca

This news release contains certain “forward-looking information”. All statements, other than statements of historical fact, that address activities, events or developments that Mistango believes, expects or anticipates will or may occur in the future including, without limitation, statements relating to Mistango’s anticipated use of proceeds from the Offering, are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of Mistango based on information currently available to Mistango. Forward-looking statements are subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Mistango to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Mistango. Factors that would cause actual results or events to differ materially from current expectations include, but are not limited to, Mistango’s decision to cancel its exploration program on its Omega gold property.

For further information please contact

Robert J. Kasner, President & CEO

Telephone: 705-568-7540

E-mail: [email protected]

Donald Kasner, Investor Relations

Telephone: 705-570-1019

E-mail: [email protected]

Website: www.mistangoriverresources.ca

The CNSX has not reviewed and does not accept responsibility for the adequacy of this release