Mega Precious Metals Inc. Announces 1,375,000 Million Warrants Extended

Mega Precious Metals Inc. (MGP - TSX Venture), ("Mega") is pleased to announce that the TSX Venture Exchange has consented to the extension in the expiry date of the following warrants:

Private Placement:

# of warrants: 1,375,000

Original Expiry Date of Warrants: January 29, 2010

New Expiry Date of Warrants: November 2, 2010

Exercise Price of Warrants: $1.60

These warrants were issued pursuant to a private placement of 2,750,000 flow-through shares with 1,375,000 share purchase warrants attached, which was accepted for filing by the Exchange effective January 30, 2008.

Mega Precious Metals Inc. is a well financed Canadian-based mineral exploration company with several projects in Northwestern Ontario, Nunavut and the Yukon. 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

807-766-3380

ir@megapmi.com

This news release includes certain forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. 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. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon.

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.

Shares Issued: 43,805,780

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