Manicouagan Minerals Inc.

Manicouagan Minerals Inc.

April 13, 2011 09:00 ET

Manicouagan to Commence Drilling at Kasagiminnis Lake-Part of Its Pickle Lake Gold Project

TORONTO, ONTARIO--(Marketwire - April 13, 2011) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that it will commence its initial 2011 drilling program, on the Kasagiminnis Lake Property, located approximately 25 kilometres southwest of the past producing Dona Lake Mine, south of Pickle Lake, Ontario.

Drilling is scheduled to commence later this month, assuming favourable weather conditions. This initial 1000 metre drilling program will focus on testing the continuity and on the expansion, of a portion of the gold bearing zone associated with a sulphide bearing iron formation, previously outlined by Moss Resources and Power Exploration Inc.

Between 1985 and 1988 Moss Resources and Power Exploration Inc. drilled 25 holes on the zone. The property remained dormant until Manicouagan optioned the property from Trillium North Minerals Ltd. in 2009 as part of a larger land package which included the Dorothy-Dobie Lake and Pickle Lake East Properties (see MAM Press Release dated April 16, 2009).

In 2010, Manicouagan established a grid over the known gold zones on the Kasagiminnis Lake Property to act as control for ground geological, geophysical, and geochemical surveys. The grid covered nearby magnetic anomalies which are also believed to be caused by iron formations. Soil sampling was successful in identifying the historic gold zone but also identified a new 400 metre long anomaly located approximately 700 metres to the southwest (see MAM Press Release dated August 24, 2010). Subsequent to the soil survey, a ground Horizontal Loop Electromagnetic Survey ("HLEM") was completed, outlining four conductive zones coincident with, or on the flanks of, the magnetic anomalies. One of the conductive zones (K4) is coincident with the new gold in soil anomaly.

Joseph Baylis, Manicouagan's President and CEO, said, "This will be the first drill program that we have undertaken on our Kasagiminnis Lake Propertysince assembling our extensive land package in Pickle Lake. It is a key part of our land package and a core part of our strategy to develop the potential of our holdings. The assay results from this program will guide the planning of the next phases of our 2011 work programs."

Manicouagan holds directly, or under option, approximately 132 square kilometres within the Pickle Lake Greenstone Belt consisting of 11 strategically located properties. 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. Manicouagan has earned a 51 percent interest in the Kasagiminnis, Dorothy-Dobie Lake and Pickle Lake East properties. Pursuant to an agreement with Trillium North Minerals, Manicouagan can increase its interest to 70 percent in these gold properties by incurring the next $1.5 million of exploration expenditures on the properties (see MAM Press Release dated April 15, 2010).

Qualified Person

Exploration programs on Manicouagan's Pickle Lake Gold Projects are carried out under the supervision of Mr. Bruce W. Mackie, P. Geo., Mr. Mackie, a professional geologist, has reviewed and verified the technical content of the information contained in this release and qualifies under the definition of "Qualified Person" set out 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, together with the Mouchalagane Nickel/Copper/PGE project and the HPM/Forgues Nickel/Copper/Cobalt project, both in Quebec. Additional information about Manicouagan and its exploration projects can be found at

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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 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, accuracy or contents of this news release.

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