Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

July 13, 2011 13:00 ET

Manicouagan Commences Phase II Drill Program at Kasagiminnis Lake

TORONTO, ONTARIO--(Marketwire - July 13, 2011) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced that it has commenced a follow up drill program on its Kasagiminnis Lake Property, located approximately 25 kilometres southwest of the past producing Dona Lake Mine, south of Pickle Lake, Ontario.

The Phase II, 1,000 metre, drilling program will focus on testing the down-dip extension of the zone where Manicouagan's initial drilling on the property returned encouraging results earlier this year (see MAM Press Release dated June 1, 2011).

In the Phase I program nine holes (KAS-11-01 to 09) totalling 964 metres were drilled to test a 250 metre interval along the 1,100 metre long gold bearing zone outlined by previous operators in the mid to late 1980's. All of the completed holes intersected the gold bearing horizon. Assay results included 6.6 g/t gold over 7.9 metres in hole KAS-11-04 and 4.55 g/t gold over 5.0 metres in hole KAS-11-01.

Brian Carter, Manicouagan's Interim CEO, said, "This follow up program will test the down depth extension of that portion of the Kasagiminnis Main gold zone where our Phase I drill program returned extremely encouraging results. The Main gold zone is underexplored and remains open below 150 metres."

The Kasagiminnis Lake Property hosts the Kasagiminnis Lake main gold zone that is associated with what was described as a sulphide bearing iron formation. 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).

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 Lake, Dorothy-Dobie Lake and Pickle Lake East properties. Pursuant to an option agreement with Trillium North Minerals, Manicouagan is currently increasing its interest to 70 percent in these three gold 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 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.

Contact Information