Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

October 14, 2009 08:00 ET

Manicouagan Reports Filing of NI 43-101 Technical Report in Respect of Three Pickle Lake Gold Properties

MOBILIZATION IN ADVANCE OF DRILL PROGRAM UNDERWAY

TORONTO, ONTARIO--(Marketwire - Oct. 14, 2009) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) is pleased to announce that a NI 43-101 Technical Report in respect of the Dorothy-Dobie Lake, Kasagiminnis and Pickle Lake East properties located near Pickle Lake, Ontario has been received and filed with the Company's regulatory filings on SEDAR (www.sedar.com). The report was completed by G.A. Harron & Associates Inc., with an effective date of August 31, 2009. A copy of the report can be viewed or downloaded from the company's website at www.manicouaganminerals.com.

The Technical Report notes that on the Dorothy-Dobie Lake property exploration activities during the 1970s and 1980s resulted in the discovery of six significant gold occurrences and deposits that are located along strike from the past-producing Golden Patricia Mine. The historic work also resulted in the outlining of one gold deposit on the Kasagiminnis property.

Summary details of the more significant gold deposits are listed in the following table.



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Grade Au
Deposit / Zone(i) Tonnes (g/t) Year Reference
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Dorothy Main 236,000 6.17 1990 Seim, 1993
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Dobie Lake 301,000 5.5 1987 Seim, 1993
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Kasagiminnis Lake 2,600,000 4.79 1988 Blackburn et. al. 1989
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((i)The mineral resources reported above predate NI 43-101 and are not NI
43-101 compliant. Manicouagan has not undertaken any independent
investigations of the dimensions, quantity or grade of this gold
mineralization and, therefore this historical data should not be relied
upon.)


The report indicates that "the historical exploration results suggest an excellent potential to discover additional gold mineralization and justify additional exploration expenditures."

A phase 1 exploration program of $800,000 is proposed in the report. As previously announced, Manicouagan will drill test portions of the Dorothy-Dobie Lake property early in the fourth quarter of 2009. (See MAM Press Release dated September 24, 2009.) Personnel and equipment are currently mobilizing and it is expected that drilling will commence early next week.

The helicopter supported drill program will cost approximately $800,000 and will consist of a minimum of 8 to 10 diamond drill holes designed to test selected targets along the Golden Patricia Mine trend including the Dorothy Main and Dobie Lake Zones.

Contingent upon favourable results being obtained in the phase 1 program, a more comprehensive phase 2 program with a budget of $3,000,000 is proposed. In phase 2, the objective of the diamond drilling portion of the proposed work program would be to further define the known zones of gold mineralization located on the properties with a view towards identifying potential indicated and measured resources. The geological mapping and geochemical surveying portions of the budget would focus on the discovery of new gold occurrences.

In addition to the drill program at Dorothy-Dobie Lake, Manicouagan is planning to carry out ground geophysical surveys on its Pickle Lake East property along the extension of the gold bearing trend currently being explored by PC Gold Inc. (see PC Gold Press Releases dated October 6th, and September 28th, 2009).

Updated Corporate Presentation Available

A new corporate presentation focusing on Manicouagan's Pickle Lake gold properties can be viewed or downloaded from the company's website at www.manicouaganminerals.com.

Manicouagan currently holds directly or has under option approximately 112 square kilometres within the Pickle Lake Greenstone Belt. The Pickle Lake Greenstone Belt, is part of the prolific Uchi Geological Sub-province which hosts the Pickle Lake, Red Lake and Rice Lake gold camps. Production to date, from these camps has amounted to over 25 million ounces of gold. The Pickle Lake Greenstone Belt includes four past producing mines: Pickle Crow (1,450,000 ounces grading 16.1 grams per tonne gold), Central Patricia (650,000 ounces grading 12.0 grams per tonne gold), Golden Patricia (450,000 ounces grading 19.9 grams per tonne gold) and Dona Lake (200,000 ounces grading 8.6 grams per tonne gold).

Manicouagan can earn up to a 70 percent interest in the Dorothy-Dobie Lake, Kasagiminnis and Pickle Lake East properties pursuant to an option agreement with Trillium North. (See MAM Press Release dated April 16, 2009.)

A sketch showing the location of the properties is available at www.manicouaganminerals.com.

Manicouagan continues to consult with the Cat Lake, Mishkeegogamang and Slate Falls First Nations with respect to its activities in the Pickle Lake Area.

Manicouagan's exploration programs in the Pickle Lake area are being carried out under the direct supervision Bruce W. Mackie, P.Geo., a consulting geologist for Manicouagan Minerals. Bruce W. Mackie, P.Geo., has reviewed and verified the technical content of this press release on behalf of Manicouagan Minerals as has the author of the NI 43-101 Technical Report, G. A. Harron P.Eng. Both are "Qualified Persons" as defined in National Instrument 43-101.

About Manicouagan

Manicouagan Minerals Inc. is a Canadian based exploration company focused on advancing its gold projects in the Pickle Lake Gold Belt, Ontario. Manicouagan also has a pipeline of commodity projects including the Brabant Lake Zinc deposit in Saskatchewan, and the HPM/Forgues Nickel/Copper/Cobalt project in Quebec.

Additional information about Manicouagan Minerals and its exploration projects can be found at www.manicouaganminerals.com.

Une traduction francaise de ce communique de presse est disponible a www.manicouaganminerals.com.

All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.

The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.

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