Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

April 23, 2008 09:30 ET

Manicouagan Completes Airborne Survey of Mouchalagane Nickel-Copper-PGE Project and Other Mid-North Quebec Projects in Preparation for Up Coming Drilling Programs

TORONTO, ONTARIO--(Marketwire - April 23, 2008) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that it has recently completed an airborne survey of its extensive land holdings in Mid-North Quebec including the Mouchalagane Nickel/Copper/PGE property, Seignelay and the recently expanded HPM/Forgues property (see Manicouagan Press Release dated February 21, 2008).

The AeroTEM II (airborne electromagnetic and magnetic) survey was competed on April 10, 2008. A total of 5,885.8 line kilometres were flown at a nominal terrain clearance of 30 metres on north-south lines 100 metres apart. Preliminary results will be available shortly and will assist in delineating prospective drill targets for the upcoming 2008 drilling campaign.

A diamond drill was mobilized and has been set up on the Mouchalagane Nickel/Copper/ PGE property. Drilling is expected to commence in late May or early June, depending on field conditions, with the initial target area being the projected down plunge extension of the Bob showing area where previously reported drilling encountered impressive nickel-copper-PGE mineralization of up to 1.78% nickel, 0.49% copper, 2.11 g/t platinum and 6.47 g/t palladium over a 2.04 metre interval in drill hole MCH-07-17. Mineralization at the Bob showing is also significantly enriched in rhodium and ruthenium with individual samples assaying up to 0.99 g/t and 1.08 g/t, respectively (see Manicouagan Press Releases of October 2, 2007, January 29, 2008 and February 21, 2008).

Drilling at Mouchalagane is expected to continue until mid July when the drill will be moved to the HPM/Forgues property to follow up on significant nickel-copper mineralization that was intersected during a program of limited drill testing by Rockwell Ventures in 2001-2002. Unverified public records indicate drill intercepts of semi massive sulphides assayed up to 2.74% nickel, 0.86% copper and 0.20% cobalt over 5.95 metres and broad intervals of disseminated sulphide mineralization assayed up to 0.53% nickel, 0.27% copper and 0.04% cobalt over 28.60 metres (see Manicouagan Press Release of November 6, 2007). The recently completed detailed AeroTEM II survey, will assist in identifying priority drill targets for the 2008 summer drill season.

Manicouagan has engaged Forage Pelletier for a minimum 5,000 metre drill program with Abitibi Helicopters providing rotary wing support. Francois Bissonnette, P.Geo, will supervise the exploration work on the Company's Mid-North Quebec projects.

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 Minerals Inc. is a Canadian based exploration company with a diversified portfolio of properties. The Company currently holds base metal projects located in Saskatchewan and Quebec, on which exploration programs are ongoing.

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.

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