CALGARY, ALBERTA--(Marketwired - May 7, 2013) - MILL CITY GOLD CORP. ("Mill City" and/or the "Company")(TSX VENTURE:MC)(MCYGF)(NJ6.F) intends to hold a general meeting of its shareholders on Tuesday, June 4, 2013, to seek shareholder approval of a proposed consolidation of the Company's fully paid and issued common shares on a ratio of one post consolidation common share for every seventeen pre-consolidation common shares. The Company currently has 89,938,711 issued and outstanding common shares and there is expected to be 5,290,512 issued and outstanding common shares upon completion of the consolidation.
The Board believes that the consolidation is necessary due to market conditions that have made it challenging to raise capital under the current share structure of the Company. The Company's name and trading symbol will remain the same.
The consolidation is subject to the approval of the Company's shareholders and the TSX Venture Exchange. Additional information about the consolidation will be available in the Company's information circular that will be mailed to shareholders in connection with the meeting, and which will be available on SEDAR after May 8, 2013.
ON BEHALF OF THE BOARD OF DIRECTORS
James R. Brown, Chairman, President & CEO