Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

September 12, 2008 17:00 ET

Manicouagan Minerals Files Technical Report for New Mineral Resource at Brabant Lake Zinc Deposit

TORONTO, ONTARIO--(Marketwire - Sept. 12, 2008) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that it has filed an independent technical report for the updated National Instrument 43-101 compliant mineral resource estimate for its wholly owned Brabant Lake Zinc deposit in Saskatchewan. The resource estimate was completed by MPH Consulting Limited of Toronto ("MPH") in conjunction with P&E Mining Consultants Inc. of Brampton, Ontario ("P&E").

This new resource estimate supersedes the prior NI 43-101 compliant inferred resource estimate previously determined by Deptuck et al in 1994 and disclosed in a NI 43-101 Technical Report completed by MPH with an effective date of September 15, 2006. Both reports are available with Manicouagan's filings on SEDAR (www.sedar.com) or at www.manicouaganminerals.com (See MAM Press Release dated July 29, 2008).



The current and prior resource estimates are tabulated below.

----------------------------------------------------------------------------
2008 MPH/P&E Resource Estimate(1)(2)(3)(4)
----------------------------------------------------------------------------
Tonnes Zn% Cu% Pb% Ag Au Zn Cu Pb Ag Au
g/t g/t lbs lbs lbs mill- oz
mill- mill- mill- ions
ions ions ions oz
----------------------------------------------------------------------------
Indicated 1,475,000 9.18 0.79 0.23 32.6 0.15 298.5 25.7 7.5 1.55 7,100
----------------------------------------------------------------------------
Inferred 2,975,000 5.55 0.55 0.13 13.9 0.10 364.0 36.1 8.5 1.33 9,600
----------------------------------------------------------------------------
1994 Deptuck Resource Estimate(4)
----------------------------------------------------------------------------
Tonnes Zn% Cu% Pb% Ag Au Zn Cu Pb Ag Au
g/t g/t lbs lbs lbs mill- oz
mill- mill- mill- ions
ions ions ions oz
----------------------------------------------------------------------------
Inferred 4,858,000 5.19 0.57 0.28 22.59 0.22 555.9 61.1 30.00 3.53 34,400
----------------------------------------------------------------------------


(1) The resource for the Brabant Lake Zinc deposit was estimated on the basis of approximate $US three year trailing average metal prices of $1.27/lb zinc, $3.02/lb copper, $0.86/lb lead, $12.49/oz silver and $663/oz/gold, and a $US exchange rate of $0.912. An NSR cut-off of $75/tonne for underground mining and milling was utilized to report the resource.

(2) Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues.

(3) The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

(4) Contained metals, expressed in pounds (lbs) and troy ounces (oz), presented in the table above are the product of resource tonnes multiplied by metal grades and are provided for information purposes only and not meant to imply recoverable product as mineral resources which are not mineral reserves do not have demonstrated economic viability.

The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.

Eugene Puritch, P.Eng. and Antoine Yassa, P.Geo of P&E Mining Consultants Inc., and Gerald Harron, P.Eng. of MPH Consulting Limited are the authors of the Resource Estimate Technical Report on the Brabant Lake Zinc deposit. They are independent Qualified Persons in accordance with NI 43-101 - Standards of Disclosure for Mineral Projects, and have reviewed and are responsible for the information presented in this news release.

About Manicouagan Minerals

Manicouagan Minerals Inc. (TSX VENTURE:MAM) is a Canadian based exploration company with a diversified portfolio of Canadian exploration properties including the Brabant Lake Zinc deposit in Saskatchewan, the Mouchalagane Nickel/Copper/PGE property in Quebec and the HPM/Forgues Nickel/Copper/Cobalt property in Quebec.

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.

Contact Information