Manado Enters Into Agreement to Acquire up to 50% Interest in Sheep Creek, Bayonne, Ymir and Rossland Mineral Properties

April 26, 2013 - Vancouver, British Columbia. Manado Gold Corp. ("Manado") (TSX-V:MDO.V - News) is pleased to announce that it has entered into an agreement with Yellowstone Resources Ltd. ("Yellowstone") whereby Yellowstone has granted Manado the option to enter into a definitive agreement (the "Definitive Agreement") to acquire up to a 50% interest in the Sheep Creek, Bayonne, Ymir and Rossland mineral properties located in the Nelson and Trail Mining Divisions, British Columbia (the "Properties"). In consideration of the right to enter into the Definitive Agreement, Manado paid Yellowstone $10,000 on signing the agreement and will have 30 business days to complete its due diligence on the Properties.

Upon Manado completing satisfactory due diligence, the parties will enter into a Definitive Agreement whereby Manado will be able to acquire a 50% interest in the Properties as follows:

1.An initial 10% interest in the Properties upon incurring $450,000 of exploration work, which will include the removal and processing of a bulk sample of approximately 10,000 tons of material located on the Sheep Creek or Bayonne properties (the "Bulk Sample"), by December 31, 2013.

2.An additional 10% interest in the Properties for each $500,000 of exploration expenditures incurred in four separate steps on or before September 30, 2014, June 30, 2015, March 31, 2016 and December 31, 2016, for a cumulative interest of 50% (including the initial interest) in the Properties. The exploration expenditures must relate to work programs consisting of up to three additional bulk samples, extensive drilling and tunnel rehabilitation and extension with the objective outlining mineral resources to permit the completion of a scoping study.

Manado has also agreed to advance $5,000 to Yellowstone on signing the Definitive Agreement and $5,000 per month thereafter during the option period unless returns are received from bulk sampling. Any net proceeds received from the bulk sampling will be split on a 50/50 basis between the parties.

Upon Manado earning a 50% interest in the Properties, the parties will enter into a joint venture for the exploration and development of the Properties which will contain customary terms and conditions. At any time after Manado has earned its 50% interest, Yellowstone may elect to convert its 50% interest in the Property into common shares of Manado. The total number of shares will be based upon value attributable to Yellowstone's remaining interest in the Properties, as determined by a valuation report acceptable to the TSX Venture Exchange, divided by average of the closing price of Manado's common shares for the 10 trading days immediately preceding the Yellowstone's election to convert.

Yellowstone will continue to retain all rights to non-mineral aggregates and any timber rights on the Properties subject to any such activities not interfering with exploration or mining operations on the Properties.

The agreement is subject to Manado completing satisfactory due diligence on the Properties and the approval of the TSX Venture Exchange.

About the Properties

The Sheep Creek, Bayonne, Ymir and Rossland mineral properties total 67 cell claims and 92 crown granted mineral claims, covering 13,132 hectares (32,450 acres) in the historic Sheep Creek, Bayonne, Ymir, and Rossland mining camps in the Kootenay area of southeastern, British Columbia. This area is an epithermal and mesothermal quartz vein district with considerable historic production.

On behalf of the Board of Directors

Logan Anderson

President and Chief Executive Officer?

info@manadogold.com

Investor Relations - Dave Ryan

dave@manadogold.com

Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado's control. Such factors include, among other things: risks and uncertainties relating to Manado's ability to enter into the Definitive Agreement, Manado's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Manado's properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.

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.