Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

January 15, 2008 08:30 ET

Manicouagan Reports Results From Brabant Lake Drilling: Assays Up to 10.90% Zinc Over 5.34 Metres and 62.52 Grams Per Tonne Silver Over 2.07 Metres

APPOINTMENT OF NEW DIRECTOR

TORONTO, ONTARIO--(Marketwire - Jan. 15, 2008) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today additional encouraging assay results from the Phase II drilling program currently underway on its wholly owned Brabant Lake zinc deposit. Assays have been received for drill holes BR-07-38, BR-07-39, and BR-07-40.

All three drill holes intersected the targeted Lower Zone. The Lower Zone in drill-hole BR-07-40 assayed 9.91% Zn, 1.05% Cu and 40.88 g/t Ag over 4.32 metres. Drill hole BR-07-40 also intersected three discrete zones of the Upper Zone. These zones aggregate 9.78 metres and include one zone of 5.50 metres assaying 5.43% Zn from 377.98 to 383.48 metres down hole.

The Lower Zone in drill hole BR-07-39 returned 15.99% Zn over 1.81 metres. This hole also intersected two discrete portions of the Upper Zone. The lowermost of these returned 10.90% Zn over 5.34 metres. Drill hole BR-07-39 also intersected the Hanging Wall Zone which assayed 6.39% Zn over 2.52 metres.

Drill hole BR-07-38 returned the highest value silver intercept of the three holes assaying 62.52 g/t Ag, 5.91% Zn and 1.99% Pb over 2.07 metres within the Lower Zone. At Brabant Lake silver rich portions of the deposit are characteristically associated with galena, a lead sulphide.

These results continue to support the objective of the current program which is designed to expand the known limits of the Lower Zone in order to calculate a revised resource estimate in early 2008.

Assay Results for drill holes BR-07-38, BR-07-39 and BR-07-40 are set out in the table below.



---------------------------------------------------------------------------
Hole Zone Length Zn Cu Pb Ag Au
ID ID(i) From To (ii)(m) (%) (%) (%) (g/t) (g/t)
---------------------------------------------------------------------------
BR-07-38 UZ 180.46 181.47 1.01 9.19 0.89 0.02 13.21 0.10
---------------------------------------------------------------------------
LZ 207.15 209.22 2.07 5.91 0.49 1.99 62.52 0.21
---------------------------------------------------------------------------

---------------------------------------------------------------------------
BR-07-39 HWZ 304.51 307.03 2.52 6.39 0.39 0.07 16.82 0.02
---------------------------------------------------------------------------
UZ' 317.65 321.61 3.96 5.05 0.44 1.14 46.44 0.27
---------------------------------------------------------------------------
UZ' 335.09 340.43 5.34 10.90 0.67 0.39 38.36 0.15
---------------------------------------------------------------------------
LZ 378.43 380.24 1.81 15.99 0.55 0.04 24.09 0.38
---------------------------------------------------------------------------

---------------------------------------------------------------------------
BR-07-40 UZ' 363.00 365.99 2.99 4.53 0.48 0.04 19.85 0.13
---------------------------------------------------------------------------
UZ' 372.53 373.82 1.29 7.08 0.37 0.03 12.78 0.00
---------------------------------------------------------------------------
UZ' 377.98 383.48 5.5 5.43 0.36 0.62 28.11 0.01
---------------------------------------------------------------------------
LZ 390.02 394.34 4.32 9.91 1.05 0.13 40.88 0.01
---------------------------------------------------------------------------

(i) Hanging-wall Zone (HWZ), Upper Zone (UZ), Lower Zone (LZ),
Footwall Zone (FWZ)
(ii) down-hole length approximately 85% true width
' Separate units of mineralization with geological features
characteristic of Upper Zone mineralization


Drilling at Brabant Lake resumed on January 08, 2008 with the commencement of BR-08-41, for which assays are pending. To date Manicouagan Minerals has drilled a total of 40 holes at Brabant Lake totaling, some 13,000 metres.

A sketch showing drill hole locations can be found at this link: http://www.ccnmatthews.com/docs/mam0115map.pdf. A table of drill results to date as well as additional information on the project, including a NI 43-101 Technical Report prepared by MPH Consulting Ltd and filed with the Company's filings at www.sedar.com, is available on the Company's website at www.manicouaganminerals.com.

The Brabant Lake property consists of 21 contiguous claims registered as ML 5054 and is located immediately east of Highway 102 some 175 km from the all services community of La Ronge, Saskatchewan.

Exploration programs are being carried out under the supervision of Rod Thomas, Vice President - Exploration of the Company. Mr. Thomas, a professional geologist, has reviewed and verified the technical content of this press release on behalf of Manicouagan Minerals and is a "Qualified Person" as defined in National Instrument 43-101. Manicouagan employs 43-101 compliant QA/QC procedures at all points in the sampling, handling, storage and shipment of samples. Blind standards and blanks are inserted into the sample sequence in the field. Analytical services are provided by TSL Laboratories of Saskatoon, Saskatchewan. Samples are crushed, riffle split and pulverized to yield a 250 gram pulp with approximately 95% -150 mesh. Ag, Cu, Pb and Zn assay is by multi-acid digestion; samples for Ag (g/tonne) and base metals (%) are weighed at 0.5 g. Samples for Au fire assay/gravimetric are weighed at 1 AT (29.16 g). Details on analytical techniques employed by TSL Laboratories may be found on the laboratories' website at www.tsllabs.com.

APPOINTMENT OF NEW DIRECTOR

Manicouagan is pleased to announce that W. Brian Carter, B.A,Sc., CA, CFA has joined Manicouagan's Board of Directors. Mr. Carter is a senior management investment professional with over 40 years experience in the investment industry, specializing in the resource sector. Following an early career as a mining engineer he entered the financial services industry and has held senior management and research positions with a number of major financial management organizations including Clarkson Gordon and Company (now Ernst and Young), Loewen, Ondaatje, McCutcheon & Company Ltd. ("LOM"), Stuart Investment Management Ltd., Jones Heward Investment Management Inc, and Legg Mason Canada Inc.

At LOM he was Head of Research and Portfolio Strategy, leading a team of analysts serving an international client base of financial institutions, and involved in that organization's Corporate Finance Department specializing in transactions in the precious metals and resource industry.

Mr. Carter is currently a Senior Portfolio Manager for Sceptre Investment Counsel Ltd.

Pursuant to the Company's Stock Option Plan, Mr. Carter has been granted 100,000 options having an exercise price equal to the closing price of Manicouagan common shares on the TSXV on January 15, 2008. The options have a term of five years and will expire on January 14, 2013.

Mr. Carter replaces Patrick J. Mars who has stepped down from the Board of Directors to fulfill other business commitments. Manicouagan thanks Mr. Mars for his contributions as a founding Director and is pleased to note that he will remain available to Manicouagan as an Advisor.

Manicouagan Minerals Inc. is a Canadian based exploration company with a diversified portfolio of properties including the Brabant Lake Zinc deposit in Saskatchewan and the Mouchalagane Nickel/PGE project in Quebec.

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

Contact Information