Manicouagan Minerals Inc.

Manicouagan Minerals Inc.

June 28, 2006 16:57 ET

Manicouagan Minerals Expands Base Metal Exploration program - acquires 100 percent interest in Brabant Lake Zinc property, Saskatchewan

TORONTO, ONTARIO--(CCNMatthews - June 28) -

Manicouagan Minerals Inc., (TSX VENTURE:MAM) announced today the purchase of a 100 percent interest in the Brabant Lake Zinc property which contains the McKenzie zinc, copper, silver deposit from Longyear Canada, ULC. The property consists of 21 contiguous claims registered as ML 5054 covering an area of approximately 411 hectares and is located immediately east of Highway 102 some 175 km from the all services community of La Ronge, Saskatchewan. A sketch showing the location of the Brabant Lake Zinc property can be found with the copy of this press release posted on the Company's website at

Manicouagan purchased a 100% interest in the property in return for a one time payment of $300,000 to Longyear Canada, ULC. No other consideration is payable to the vendor and the property is not subject to any third party

In 1994, a preliminary resource inventory (Stewart, P.W. et al 1994) was completed incorporating data available from 72 drill holes. This historical mineral resource inventory was estimated to be 4,857,851 tonnes grading 5.19%
zinc, 0.59% copper, 22.59 grams per tonne silver, 0.22 grams per tonne gold and 0.28% lead. This resource inventory was calculated using the polygonal plan method, using minimum criteria of 2% zinc over a width of at least 3 metres and a specific gravity of 3.0.

The McKenzie deposit was originally discovered by prospector Lawrence McKenzie in 1956 and the last reported work on the property was completed in 1993. The deposit occurs within a homoclinal sequence of northeast striking and moderately west dipping gneisses. The McKenzie Deposit consists of three stacked zones of sulphide mineralization comprising the Hanging Wall, Upper and Lower Zones. Each zone strikes northeast, dips moderately west-northwest
and is approximately 5 metres wide.

Of particular significance is the Lower Zone which is relatively unexplored and where drilling in 1993 intersected higher than average base metal grades. (Hole BR-196-8: 13.92 % Zn, 0.83% Cu over 6.3 metres of core length with an estimated true width of 5.3 metres) This intersection is stored in the Saskatchewan Energy and Mines Core Library in La Ronge and has been viewed by Manicouagan's Qualified Person who can confirm the down hole width and approximate tenor of the mineralization.

Grade and tonnage estimates for the Brabant Lake Zinc property and the McKenzie deposit presented in this release are historical in nature and predate, and are noncompliant with NI 43-101 and should not be relied on except to represent an order-of-magnitude estimate of mineral resources. Manicouagan believes that the estimates are based on reliable information prepared by reputable individuals using accurate analytical techniques. Manicouagan Minerals will be re-evaluating all analytical and drill data to make the historical estimates conform to the CIM Standards for Mineral Resource and Mineral Reserve estimates.

The area surrounding the Brabant Lake Zinc property is the subject of a native land claim dating back to the mid 1980's. The Brabant Lake Zinc property predates the claim and as such the property is grandfathered. Any
agreements relating to surface access that are of a duration of less than one year can be entered into with the Province of Saskatchewan subject to consultation with the Peter Ballantyne Band whereas agreements having a duration of more than a year require the prior consent of the Band.

Joseph Baylis, President and Chief Executive Officer of Manicouagan Minerals noted "the acquisition of the Brabant Lake Zinc property is an important step for the Company as we continue to implement our strategy to expand upon and diversify our exploration portfolio. Given current and projected prices for base metals we intend to quickly begin the work necessary to confirm and expand the existing resource at this advanced stage project. We look forward to meeting and working with the stakeholders in the area.

Exploration will be continuing at the Manicouagan meteorite impact crater, where less than 20 percent of the inner crater has been explored. Details of a summer work program at the crater are currently being finalized.Trenching and sampling is underway at the Mouchalagane Copper/Nickel property. With the recent addition of the Lac Maugue Copper/Silver property and now the Brabant Lake Zinc property it will be a busy and exciting summer field season
for us."

Mr. Rod Thomas, a professional geologist, has reviewed and verified the technical content of this press release on behalf of Manicouagan Minerals and qualifies under the definition of "Qualified Person" set out in National
Instrument 43-101.

Additional information about Manicouagan Minerals and the Company's other projects, including the Manicouagan meteorite impact crater can be found at

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.

See attached location map:

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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.

Contact Information

  • Joseph Baylis
    President and Chief Executive Officer
    (647) 477-2444