Agoracom

Dear Shareholders

We have obviously been following the posts on Agoracom and Stockhouse.

We do not post replies on Stockhouse because we do not see this type of forum as appropriate for management discussion.

However, we pay Agarocom a fee for this site as a forum for our shareholders and therefore feel it is appropriate for us to respond to shareholder concerns on this site.

It is emotionally difficult to see such infighting in what we believe is a great company with a great future.

We are not against everyone having an opinion and it certainly does not have to be the same as ours on all matters.

Many of the posts are viewed as constructive criticism and are used in management decision making.

We intend to implement several changes to our communication policies as a result of the comments and suggestions.

These changes will be discussed by the board and communicated to the shareholders when we have completed our current efforts at fending off a hostile change of control.

We appreciate all the comments from shareholders acknowledging what we have accomplished on behalf of MacMillan Gold and all our shareholders.

We are proud of our record since taking over MacMillan Gold Corp. on September 27, 2001.

It was the day before it was suspended from trading on the TSE and closed at $0.03

Today we are trading in a healthy although undervalued $0.50 plus range.

Our cash, prepaids, and receivables at Dec 31, 2007 were $4.8 million plus $2.1 million in investments

This is the strongest financial position we have ever been in.

(People want to take over control; wonder why?)

We have positive drill results in Mexico from:

Cerro de Oro – DD#13 – 85.5 metres of 0.196 g Au/t and 82.9 g Ag/t

La Mus – DD#9 – 11.7 metres of 0.715 g Au/t and 82.1 g Ag/t

- DD#10 – 4.1 metres of 0.561 g Au/t and 111.1 g Ag/t

- DD#11 – 5.3 metres of 0.3.103 g Au/t and 280.6 g Ag/t

- DD#12 – 12 metres of 0.793 g Au/t

- DD#14 – 5.1 metres of 0.982 g Au/t and 92 g Ag/t PLUS 6.4 metres of 1.596 g Au/t and 86.5 g Ag/t

- DD#15 – 5.45 metres of 0.356 g Au/t and 67.9 g Ag/t

- DD#16 – 6.3 metres of 0.574 metres of 0.574 g Au/t and 126.4 g Ag/t

El Zafiro – DD#EZA-08 – 26.5 metres of 3.551 g Au/t

DD#EZA-03 – 4.2 metres of 1.212 g Au/t

Realito – DD#1 – 4.8 metres of 118 g Ag/t

-DD#2 – 13.8 metres of 209.7 g Ag/t

Realito – more holes drilled and more positive results expected

Las Cucharas – next drill plan property in Mexico starting Q2

West Timmins plan to drill our La Violetta in 2008 at no cost to MMG

Venturex plan to drill our Tetasiari in 2008 at no cost to MMG

We have positive results in Peru from:

Aguila Main Target – DD#3 – 0.525% Cu and 0.043% Mo over entire 510 metre hole

Aguila East Target – DD#4 – 0.343% Cu and 0.020% Mo over entire 371 metres

Pasacancha Tunnel Sampling - 209 metres of 0.07 g Au/t and 78.9 g Ag/t and 0.11% Cu and 0.77% Pb and 1.37% Zn

All of the above results other than Cerro de Oro are from the past 12 months.

Some shareholders wish we were doing more.

We plan to do more in Peru as soon as we are permitted to have more than the current drill contract of work awarded under contract.

The CTO is against me personally and will be dealt with by me personally.

The only reason my stake in MMG was not disclosed in the information circular this year is because I did not stand for re-election as a director.

The reason I did not stand for re-election is because I felt it was in the best interest of MacMillan Gold and the shareholders.

I have always followed the principle that if I believe in what I am doing, I should show it by investing in it.

I have also always followed the principle that I am elected to represent ALL shareholders and not a select few, and that if I make decisions based upon what I think is in the best interest of ALL shareholders it will obviously be in my best interest as a large shareholder.

My shares in MacMillan as per the historical public records are as follows:

- September 27, 2001 – Appointed President & Director, owned no shares, had no options

-September 27, 2007 – 1,200,000 options granted at $0.03 including 500,000 to me as President & Director (an observant outgoing director comments I now have 500,000 reasons to make MMG a success) Large grant but had ZERO value unless I successfully financed and listed MMG.

-September 28, 2001 - MMG suspended from TSE

-March 7, 2002 News Release – MMG raises $300,000 PP – I am 210,000 shares at $0.10 and 210,000 warrants at $0.15

-April 9, 2002 – 700,000 options granted at $0.10 including 100,000 to me

-June 28, 2002 – I exercised my 500,000 options at $0.03 on June 28, 2002 with legend dates to match regulatory escrow conditions as a requirement for listing approval to protect shareholders interests (system works)

-July 5, 2002 News Release – MMG listed and trading on TSX Venture

-July 8, 2002 – 525,000 options granted at $0.10 including 125,000 to me

-December 20, 2002 News Release – I purchase remaining 1,000,000 shares of MMG from Nextair (formerly Scorpion Minerals) for $0.15 per share (115% of market price) I disclose 2,010,000 shares owned plus 225,000 stock options at $0.10 and 210,000 warrants at $0.15 from the March 7, 2002 News Release

February 3, 2003 Information Circular – Disclosed 2,010,000 shares (agrees to December 20, 2002 News Release)

March 7, 2003 – 150,000 options granted at $0.26 including 50,000 to me

March 7, 2003 – 1,000,000 options granted at $0.25 – 200,000 to me

March 21, 2003 News Release – 100% of warrants at $0.15 exercised including my 210,000 disclosed in news released December 20, 2002.

May 26, 2003 News Release –$100,000 PP announced including 10% by me, 100,000 shares at $0.20 and 50,000 warrants at $0.35 year 1 and $0.50 year 2

June 16, 2003 – 100,000 options granted at $0.25 including NIL to me

July 31, 2003 – 125,000 options granted at $0.29 – NIL to me

August 7, 2003 News Release – $621,750 PP including 100,000 at $0.25 with 50,000 warrants at $0.40 year 1 and $0.65 year 2

October 31, 2003 News Release – Announced me buying from Nextair (formerly Scorpion Minerals) the remaining 250,000 restricted shares for $0.40 ($0.20 cost to Nextair in PP) including their 250,000 warrants purchased in the May 2003 PP. Disclosed owning 2,809,000 shares including this purchase. I disclosed 475,000 stock options, 350,000 warrants (the 100,000 disclosed May 26 plus the 250,000 purchased above), and the 100,000 shares and 50,000 warrants from the August 2003 PP.

December 18, 2003 – 15,000 options granted at $0.50 – NIL to me

February 5, 2004 News Release - $1,000,000 PP – I disclosed me for 200,000 shares at $0.50 with 200,000 warrants at $0.75 year 1 and $1.00 year 2

February 25, 2004 Information Circular – I disclosed 2,635,000 shares (increase of 525,000 shares since 2003 Info Circular)

April 5, 2004 News Release – 1,070,000 options granted at $0.50 including 300,000 to me

July 2004 – I exercised 50,000 options at $0.26

September 30, 2004 – exercised 225,000 options at $0.10

October 19, 2004 – 100,000 options granted at $0.50 including NIL to me.

December 23, 2004 News Release – $540,000 PP including me for 100,000 shares at $0.50 and 100,000 warrants at $0.75 year 1 and $1.00 year 2

February 28, 2005 Information Circular – disclosed 3,165,000 shares (increase of 530,000 since 2004 Info Circular)

July 11, 2005 News Release – $325,150 PP – including me for 86,143 shares at $0.35 with 86,143 warrants at $0.50 for 2 years

August 9, 2005 News Release - $407,500 PP including me selling 1,093,750 free trading shares at $0.32 to subscribe for 1,000,000 restricted shares at $0.35 with 1,000,000 warrants at $0.50 for 2 years. I took a personal loss of 93,750 free trading shares to help fund MMG. The attached warrants were split as half warrants to the purchasers of the 1,093,750 shares with remaining less than half warrants remaining with me. My attached warrants expired unexercised on August 9, 2007.

February 6, 2006 News Release – $2,500,000 PP – including me for 200,000 shares at $0.25 and 200,000 warrants at $0.35 year 1 and $0.50 year 2

March 1, 2006 – I exercise 200,000 options at $0.25

March 3, 2006 Information Circular – disclosed 3,557,393 shares (increase of 392,393 since 2005 Info Circular)

April 17, 2006 News Release – Options Granted at $0.30 – includes 200,000 to me

February 26, 2007 News Release – 10,000,000 warrants extended 6 months at $0.35 including 200,000 to me

February 28, 2007 – disclosed 3,557,393 shares (no change)

March 26, 2007 – 300,000 options at $0.50 granted March 26, 2004 expired unexercised

March 27, 2007 - $2,221,000 PP including NO insiders

March 30, 2007 News Release – Options granted at $0.37 – includes 300,000 to me

July 11, 2007 – my 86,143 warrants at $0.50 expire unexercised

September 28, 2007 News Release – options granted at $$0.51 including 100,000 to me

December 31, 2007 News Release – options granted at $0.60 including NIL to me.

February 6, 2008 News Release – CTO against me as individual issued by BCSC

February 7, 2008 – warrants at $0.50 expire including 200,000 to me unexercisable due to CTO

February 29, 2008 Information Circular – I disclose that I am not standing for re-election as director of MacMillan Gold Corp.

No shares are disclosed because I did not stand for re-election (I have bought and sold no shares – still 3,557,393)

The individual News Releases regarding stock option grants are not required to disclose the options by named individuals but the Information Circulars fully disclose each year all activity in options for me as an individual including grants, exercises, and expiries.

I hope this takes the speculation or fear out of shareholders minds about my true long term commitment to the success of MacMIllan Gold.

All of the above was researched by me since the CTO.

Once I fill in all the blanks of when I bought the unaccounted for shares I can do my SEDI filings (easier said than done).

We also look forward to a period of positive news after the AGM drama is concluded.

If you wish to amend your proxy, please contact me at macmillangold@ca.inter.net

Respectfully Submitted

George A Brown

President & CEO

MacMIllan Gold Corp.