Manitou Gold Inc.
TSX VENTURE : MTU

Manitou Gold Inc.

March 31, 2010 12:24 ET

Manitou Gold Grab Sample Assays of 93.2 g/t Au From Kenwest Property

SUDBURY, ONTARIO--(Marketwire - March 31, 2010) - Manitou Gold Inc. (TSX VENTURE:MTU) is pleased to provide assay results from the 2009 prospecting program on the Kenwest Property in the vicinity of the Big Master Mine. The Kenwest property consists of 32 mining patents and 10 mining license of occupation situated within the Kenora Mining Division, of northwestern Ontario, optioned from Goldcorp Inc.

The Kenwest property hosts the past gold producing Big Master Mine, which operated briefly from 1902 to 1905 and again between 1942 and 1943. The #1 shaft was sunk to a depth of 183m with development on four levels (24m, 55m, 79m, and 107m). In 1942, historical reserves were reported at 30,000 tons averaging at 12.7 g/t Au, with an additional 19,000 tons averaging 10.6 g/t Au (both considered to be historic estimates pursuant to National Instrument 43-101 - see additional disclosure below). Production reported for the period, however, totaled only 9,443 tons. Historical assay plans indicate continuity of the gold bearing veins beyond the limits of the mined out area, with assays of 16.8 g/t Au over 2.0 m, and 11.0 g/t Au over 2.0 m at the limits of the mine workings.

The #2 shaft was sunk 65 metres east of the #1 shaft on a parallel gold bearing structure, and connects to the #1 shaft on the 24m level. Development work was completed on three separate levels, however production numbers are unknown. Historical assay plans from the #2 shaft indentify a section of 8.2 g/t Au over 1.8 m and 6.9 g/t Au over 1.8 m. This area was not mined and is situated within 25 m of surface.

In 2009, Manitou Gold prospected locations around the Big Master Mine #1 and #2 shaft, as well as the Helena shaft. Assay results confirm the high grade nature of the gold bearing systems with three discrete structures being identified. Samples from the Big Master #1 trend returned assay results of 80.1 g/t Au proximal to the shaft area, 52.4 g/t Au from the Helena Shaft area, and 93.2 g/t Au midway between the two shafts. This structure has been prospected along a distance of 1,020 metres and has retuned numerous high grade gold assay results, as further disclosed below. In addition the historic operator followed the structure with 407m long drift on the 183m level. Along the Shaft #2 gold trend, assay results of 26.7 g/t Au were retuned. A third parallel system was identified in the prospecting program and returned assay results of 11.4 g/t Au.

The Company's website has been updated with maps and sections depicting the area of the Big Master Mine. The following table provides the location and grades of the 50 best grab samples taken from an approximately 1 km mineralized trend in the vicinity of the Big Master and Helena Shafts:



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UTM UTM
Sample # UTM East North Au g/t Sample # UTM East North Au g/t
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H179814 522050 5476748 93.2 H179158 522294 5477081 9.9
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H929510 522075 5476603 91.0 H179122 521923 5476433 9.7
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H179136 521845 5476446 80.1 H179143 521915 5476417 9.4
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H182773 521803 5476372 70.7 H179116 521793 5476378 8.9
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H182769 521846 5476461 63.9 H182793 522297 5477082 7.8
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H183481 521845 5476448 55.1 H179178 521777 5476249 7.4
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H182938 522291 5477079 52.4 H179803 522293 5477085 7.1
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H182916 521830 5476432 48.2 H929509 522068 5476598 6.7
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H179157 522294 5477081 39.7 H179827 521817 5476306 6.4
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H183451 521738 5476349 33.1 H182777 521792 5476387 5.9
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H179119 521885 5476388 26.7 H183117 522071 5476598 5.8
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H179121 521923 5476433 26.5 H185255 522120 5476658 5.8
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H182949 521735 5476346 25.5 H179180 521805 5476290 5.6
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H183120 522050 5476748 24.8 H929511 522075 5476603 5.3
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H183482 521845 5476446 21.5 H929505 521934 5476237 5.2
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H182792 522294 5477081 20.4 H183123 522296 5477081 4.9
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H179124 522076 5476606 17.0 H182770 521849 5476462 4.9
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H182772 521911 5476409 13.9 H179181 521805 5476290 4.7
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H183118 522068 5476596 12.8 H183484 522300 5477088 4.4
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H182771 521917 5476408 12.7 H179824 521827 5476310 4.3
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H179805 522297 5477078 12.3 H179142 521915 5476417 4.2
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H179139 521915 5476417 12.1 H182775 521789 5476383 3.8
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H179826 521817 5476306 11.4 H179179 521805 5476290 3.8
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H182788 522262 5476478 11.4 H183122 522298 5477080 3.7
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H182939 522297 5477083 11.1 H179197 521692 5476259 3.6
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The grades of all samples taken from this area ranged from trace to 93.2 g/t Au. Grab samples are, by nature, selective and are unlikely to represent average grades on the property.

Manitou Gold is currently completing ground magnetometer and induced polarization surveys on this and other projects in preparation for a summer drill program.

About Manitou Gold

Manitou Gold Inc. is a gold exploration company focused with a dominant land position in the Gold Rock Mining Camp, located in the Kenora Mining District, in Northwestern Ontario.

The Company is well funded, having recently completed a $2 million initial public offering. The Company's largest shareholder is Goldcorp Inc, who holds a 15% interest in the Company.

The Qualified Person responsible for the technical content of this news release is Todd Keast, P. Geo., Vice President, Exploration of Manitou Gold Inc. Mr. Keast has verified all of the technical data contained in this release. There has been insufficient exploration to define a mineral resource on any of the properties of the Company to date and it is uncertain if further exploration will result in any such properties being delineated as mineral resources. For further details on the Company's Kenwest property, please refer to the final long form prospectus of the Company dated February 16, 2010 available on SEDAR at www.sedar.com.

The Company has implemented a quality control program to ensure best practice in sampling and analysis. Assayed samples are transported in security sealed bags for preparation and analysis at ALS Chemex facilities. ALS Chemex is an ISO 9001-2000 and ISO 17025 registered laboratory. A prepared sample is digested with aqua regia. The resulting solution is analyzed by inductively coupled plasma-atomic emission spectrometry.

Historic estimates of mineral a reserves were sourced from the Ontario Department of Mines Mineral Deposit Circular #016, dated1984. Historic assay plans referenced in this release are those of a prior operator and are dated 1935. The Company considers these historical estimates to be relevant, as they provide an indication of historical mineralization having existed on the Company's property. However, the Company is not treating these historical estimates as current reserves. This historical estimate should not be relied upon by any party as an indication of a current reserve or resource.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers should also refer to the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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