Media Resource Group Lists are used by CallManager to intelligently allocate resources to endpoints. An eventvwr message saying this states that all of the specific resources are unavailable. This can be do to usage or system outage. By default everything is in the NULL list. Here are documents explaining MRG and MRGL.
Medialist exhausted means that callmanager has gone through all devices in the Media Resource Group and was not able to assign a device to use.
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