Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

September 19, 2007 07:00 ET

Manicouagan Minerals Reports Encouraging Drill Results From the Bob Showing at Mouchalagane-9.49% Nickel Over 0.16 Metre and 3.11% Nickel Over 0.44 Metre

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2007) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today initial drilling results from the Company's Mouchalagane Project in northern Quebec.

Since drilling commenced in late July, 2007 a total of 25 short diamond drill holes, in aggregate 2,048.5 metres, have tested eight electromagnetic (EM) targets that were delineated during ground geophysical surveys completed in 2006. Assay results for 4 of the first 6 holes, which were assayed on a rush basis, have been received and significant results are presented in the table below.



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Hole Sample From To Length Au Pt Pd Ni Cu Co
ID No. (m) (m) (m)(i) (g/t) (g/t) (g/t) % % %
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MCH 151036 24.24 24.40 0.16 0.71 1.17 7.88 9.49 0.07 0.45
07-03
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MCH 151065 24.27 24.50 0.23 0.21 1.50 8.29 3.15 1.15 0.21
07-04
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MCH 151066 24.50 24.76 0.26 0.13 1.15 4.74 1.64 0.50 0.12
07-04
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MCH 151067 24.76 24.94 0.18 0.30 1.21 4.94 2.38 0.86 0.13
07-04
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MCH 151081 42.28 42.64 0.36 0.03 1.85 3.41 3.54 0.13 0.07
07-05
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MCH 151082 42.64 42.90 0.26 0.05 2.00 5.44 2.52 0.53 0.11
07-05
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MCH 151090 47.86 48.30 0.44 0.20 2.56 6.05 3.11 1.43 0.11
07-06
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(i)true width unknown


Drill holes MCH-07-03 to MCH-07-06 listed above test the Bob showing (including Bob East) where surface channel sampling of exposed sulphide mineralization in bedrock had returned outstanding nickel and copper assay results including significant concentrations of platinum, palladium and rhodium (see MAM news releases of May 24 and February 13, 2007; December 07, 2006).

Drill holes MCH-07-03 to MCH-07-06 tested the subsurface beneath and in the immediate vicinity of the showings as well as two short strike length EM conductors nearby. These results confirm the presence of high platinum (Pt), palladium (Pd), nickel (Ni), copper (Cu) and cobalt (Co) concentrations. In particular the relatively high platinum group element (PGE) concentrations and Pt:Pd ratios of approximately 1:4 indicate an ultramafic source rock. In this small sample set (today's results) copper content and PGE concentrations are not obviously correlated which suggests that the mineralization was not emplaced as a sulphide melt but rather in a solid or semi-solid state. In particular, the sulphide veins appear to be tectonically emplaced, yet the immediate wall rocks are visibly altered, suggesting a local geothermal gradient existed at the time of emplacement and the possibility that the source or main sulphide mass may be nearby.

Management is very much encouraged by these results and the Company has map-staked, titles pending, an additional 173 (90 km2) claims contiguous with or proximal to the Mouchalagane property as well as an additional 227 (118 km2) claims over an area 40 km to the northeast which is believed to have similar geological potential as Mouchalagane. With these recent acquisitions Manicouagan's land holdings in the area total 708 claims or approximately 370 km2. A winter field program including detailed and deep-search airborne electromagnetic surveys of the Company's substantial land holdings as well as continued drilling of ground EM targets is being considered. In anticipation of field work in early 2008 the project's base camp is being winterized.

Diamond drill testing continues with the program designed to drill test EM conductors delineated in 2006. The Company has expanded the 2006 cut grid by an additional 73 km of cut and chained line to facilitate ongoing prospecting and ground EM and MAG surveys. Manicouagan plans to continue drilling and prospecting activities until early October when weather conditions will dictate a cessation of field activities. Currently assay results are pending for most drill holes and samples obtained during the course of prospecting activities.

Drill hole locations and updated property maps are available on the Company's website at www.manicouaganminerals.com.

Manicouagan also announced today that it has entered into an agreement with Explorations J.F. Inc., the vendor of the 58 claims that originally formed the Mouchalagane property to extend the 2% Net Smelter Return Royalty to an additional 235 claims. Three quarters of the 2% Net Smelter Return Royalty can be purchased from Explorations J.F. for $1.0 million within six months from the date that a production decision is announced.

Exploration programs on the Mouchalagane property are being carried out under the direct supervision of Francois Bissonnette, P.Geo., Senior Project Geologist for the Mouchalagane Project.

Gold, platinum and palladium concentrations are determined by fire assay using a 30 gram split mixed with fire assay fluxes and fused at 1100 degrees C for one hour. After cooling the lead button is separated from the slag and cupelled at 960 degrees C to recover the silver (dore bead) plus gold, platinum and palladium. The silver dore bead is digested in hot (95 degrees C) nitric and hydrochloric acid. After cooling for 2 hours the sample solution is analyzed for gold, platinum and palladium by ICP/OES.

Nickel, copper and cobalt concentrations are first determined by AAS initially using a 1 gram sample digested in aqua regia. In those samples where any one of the nickel, copper or cobalt concentrations as determined exceed 5,000 parts per million (equivalent to 0.5%) samples are assayed for nickel, copper and cobalt by using a 0.5 gram sample using a four acid digestion with hydrofluoric, nitric, perchloric and hydrochloric acids. Analytical services are provided by TSL Laboratories of Saskatoon a full description of the laboratory's analytical procedures may be viewed on their website at www.tsllabs.com.

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 four 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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