October 23, 2008

Money4Gold Holdings Appoints Neil McDermott to Board

Money4Gold Holdings Inc. (OTCBB: MFGD) is pleased to announce that Mr. Neil McDermott has been appointed to its Board of Directors. Mr. McDermott has a long and distinguished career with particular knowledge and experience in the areas of land, capital and gold. He has a number of business interests in Ireland, the Ukraine and Estonia.

In Ireland, his business interests include an investment company dealing in equities, commodities and currencies, a property development business, a farming operation and directorship of Defacto Communications, a private software development company. He earlier served for six years as non-executive director of Celtic Resources plc where he actively participated in its growth and development until the recent successful takeover by mining major Severstal plc.

In the Ukraine, Mr. McDermott farms 10,000 hectares in the Ternopil region, and he is actively pursuing expansion plans. In Estonia, he has extensive property, farming and business interests as the owner of eight registered companies. His businesses provide significant employment in all three countries.

Money4Gold Holdings welcomes Mr. McDermott to the Board.

About Money4Gold Holdings, Inc.

The Company's mission is to increase shareholder value by producing gold, platinum and silver in increasing quantity, and without the risks of mining, large capital costs or the attendant environmental and political hazards. Management believes Money4Gold can offer the upside potential of the thriving precious metals markets by the broad-scale acquisition, recycling and production of gold, platinum and silver, while concurrently providing a new level of service and payout to individuals and groups wanting to sell their precious metals. Through Money4Gold's consumer websites, including www.Dollars4Gold.com, the company strives to provide the most convenient, efficient and secure method for individuals to recycle items containing precious metals. For more corporate information, please visit www.Money4Gold.com.