Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

July 11, 2011 16:30 ET

Manicouagan Announces the Appointment of Brian Carter as Interim Chief Executive Officer

TORONTO, ONTARIO--(Marketwire - July 11, 2011) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that Brian Carter, a director of the Company has accepted the position of Interim CEO effective today, replacing Joseph Baylis. Mr. Carter is currently with Fiera Sceptre Inc., where he serves in the position of Vice President, Private Wealth for 40% of his working time.

Doug Davis, Chairman of Manicouagan said, "Joseph has served Manicouagan for over 5 years as CEO and we wish him the best of success. He will continue to serve as a consultant as required, in the ensuing period, to assist in the transition to Brian as interim CEO and ultimately to a permanent CEO. Brian's main priority will be to find a successor CEO. We would encourage interested parties to contact us directly at the contacts provided below."

Brian Carter holds a BASc degree in Mining Engineering from the University of Toronto, as well as being a Chartered Accountant and a Chartered Financial Analyst. During his 45 year career in the financial industry, Mr. Carter has held a number of positions relating to the mining industry including analysis, investment management, and corporate finance services. Brian is also a director of Sparton Resources Inc.

Brian Carter, Interim CEO, stated, "Our first order of business is to continue to advance the exploration programs on our most promising properties."

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, together with the Mouchalagane Nickel/Copper/PGE project and the HPM/Forgues Nickel/Copper/Cobalt project, both in Quebec. Additional information about the company can be found at www.manicouaganminerals.com.

Une traduction française de ce communiqué de presse est disponible à www.manicouaganminerals.com.

Forward Looking Statements

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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