Friday, July 27, 2007


TORONTO, ONTARIO, Jul. 27, 2007 (CCNMatthews delivered by Newstex) -- Markland Street Asset Management Inc., the Manager of Markland AGF Precious Metals Corp. (the 'Company'), announced today that the exchange ratios for the exchange option available in connection with the initial public offering (the 'Offering') of the Company have been updated to reflect more recent trading prices of the Exchange Eligible Issuers (as identified in the preliminary prospectus dated May 30, 2007). The number of units (comprised of an equity share and one-half of a warrant) of the Company issuable for each deposited security of an Exchange Eligible Issuer will be determined by dividing the weighted average trading price of the securities of such Exchange Eligible Issuer during the three consecutive trading days ending on July 25, 2007 (adjusted to reflect distributions declared by these issuers that will not be received by the Trust) by $10.00.

The exchange option expired June 25, 2007. Prospective purchasers may still acquire Units for cash until July 31, 2007.

The Company's investment objective is to provide its shareholders with the opportunity for capital appreciation by investing in an actively managed portfolio of equity securities, consisting of gold and precious metals companies and to a lesser extent base metals and minerals companies, as well as precious metals, such as gold bullion and silver bullion.

AGF Funds Inc. has been retained to provide investment advisory and portfolio management services to the Company.

The following table sets out, for each security of an Exchange Eligible Issuer deposited under the exchange option, the name of the eligible issue, the weighted average trading price of its securities and the Exchange Ratio.

--------------------------------------------------------------------Exchange Eligible Issuer Symbol(1) Weighted Exchange Average Ratio Trading Price--------------------------------------------------------------------Agnico-Eagle Mines Limited AEM $45.2915 4.5292--------------------------------------------------------------------Alamos Gold Inc. AGI $6.5378 0.6538--------------------------------------------------------------------Aurizon Mines Ltd. ARZ $3.9229 0.3923--------------------------------------------------------------------Cameco Corporation CCO $44.9219 4.4922--------------------------------------------------------------------Central Fund of Canada Limited 'A' CEF.A $9.8878 0.9888--------------------------------------------------------------------Eldorado Gold Corporation ELD $4.9738 0.4974--------------------------------------------------------------------First Quantum Minerals Ltd. FM $104.8755 10.4876--------------------------------------------------------------------Goldcorp Inc. G $28.2355 2.8236--------------------------------------------------------------------IAMGOLD Corporation IMG $8.9858 0.8986--------------------------------------------------------------------Kinross Gold Corporation K $14.4530 1.4453--------------------------------------------------------------------Newmont Mining Corporation NEM(2) $45.4764 4.5476--------------------------------------------------------------------streetTRACKS Gold Trust GLD(2) $70.6230 7.0623--------------------------------------------------------------------Yamana Gold Inc. YRI $12.6587 1.2659--------------------------------------------------------------------Notes:(1) Ticker symbol used on the TSX, unless otherwise noted(2) Listed on the New York Stock Exchange
The Offering is being made through a syndicate co-led by RBC Capital Markets. and CIBC World Markets Inc., and which includes BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, Berkshire Securities Inc., Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities Inc., Research Capital Corporation and Wellington West Capital Inc.

For further information concerning the Offering or the Exchange Option, please contact a member of the syndicate.

Newstex ID: CCN-0001-18476465


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