Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

October 05, 2006 14:07 ET

Manicouagan Minerals Updates Ongoing Exploration Programs

TORONTO, ONTARIO--(CCNMatthews - Oct. 5, 2007) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION ON U.S. WIRE SERVICES

Attention Business Editors:

Manicouagan Minerals Inc. (TSX VENTURE:MAM) provided an update today on the ongoing exploration programs on its four Canadian properties.

Brabant Lake Zinc Property - NI 43-101 Technical Report Due in Early October - Drilling to Commence in November

Since acquiring a 100% interest in the Brabant Lake property from Longyear Canada on June 28, 2006 the Company has moved quickly to advance the project to the drill stage.

The most recent phase of work on the Brabant Lake Zinc-Copper deposit was completed by Phelps-Dodge Canada (PDC) in 1992-1994. PDC drilled 11 diamond drill holes (3043 metres in aggregate) and initiated a compilation and re-interpretation of all the drilling completed on the deposit.

PDC estimated an unclassified mineral resource inventory of 4,858,000 tonnes grading 5.19% zinc, 0.57% copper, 0.28% lead, 22.59 g/t silver and 0.22 g/t gold using a 2% zinc cut-off and a minimum true width of 3.00 metres. This estimate as stated is historical in nature and as such is non compliant with NI 43-101. This resource calculation however, can be viewed as a very positive indication of the property's mineral potential.

Manicouagan has retained MPH Consulting to complete a NI 43-101 Technical Report on the property and it is expected that the report together with its recommendations for advancing the property will be available in early October, 2006.

A 35 kilometre cut-line grid has been established over the area of the deposit and ground geophysical work consisting of HLEM (horizontal loop electromagnetic) and magnetometer surveys will commence in the next few weeks.

Current plans are to commence Phase I drilling on the property in November, following receipt of the NI 43-101 Technical Report and the necessary permits.

Lac Maugue Copper/Silver Property - Airborne Geophysical Survey Completed - Land Position Expanded

The regional helicopter-borne electromagnetic and magnetic survey, completed in late August, consisted of a total of 3649 line kilometres at 300-metre line spacing. An additional 600 line kilometres of 100 metre in-fill survey was completed over areas of specific interest. The initial line spacing was purposely coarse, designed to search for large sedimentary-hosted copper deposits. In-fill flying provided detail in areas where the 300-metre survey yielded positive results. A total of approximately 100 anomalies consisting of either discrete conductors and/or conductive trends with coincident or offset magnetic associations were delineated. The latter feature may reflect an oxidation-reduction boundary that may control mineral deposition, a common feature of sedimentary hosted copper mineralization.

Following encouraging results obtained during the July field program (including a channel sample taken from trench 2006-1 on the Lac Maugue copper-silver zone that averaged 132 g/t silver, 0.86% copper over 4.85 metres (See MAM Press Release dated September 11, 2006) an additional 30 map designated claims were located to protect the presumed strike extension of the Lac Maugue mineralized stratigraphy which has an overall strike length in
excess of three kilometres. An additional 52 map designated claims have been applied for to secure areas of prospective ground not already held. Currently, the Lac Maugue property consists of 88 map designated claims (4,225 hectares). An additional 587 map designated claims (28,384 hectares) have been applied for.

Field work at Lac Maugue resumed in early September and helicopter supported field crews are currently in the final phase of a reconnaissance field program. Field work to date has focused on prospecting high priority
geophysical targets particularly those proximal to known showings or mineralized boulders.

Sulphide mineralization visually similar to the mineralization at Lac Maugue in bedrock and/or boulders proximal to airborne conductors has been identified and sampled. Assay results are expected to be available by early November. It is anticipated that some targets will require detailed ground geophysics to determine drill targets.

A sketch showing the location of the project, the mineral claims, the regional geology as well as detailed geology and sampling of the Lac Maugue showing area can be found on the Company's website at www.manicouaganminerals.com.

Manicouagan Project - Sampling and Mapping Underway - Compilation to be Prepared

In August, 2006 a down hole pulse-EM survey was completed on six diamond drill holes that were designed to explore the contact between the overlying melt-rock and underlying basement. Down hole pulse-EM (electromagnetic) is an
in-the-hole geophysical technique that can detect conductive sulphide mineralization within an effective search radius of 100 metres. No conductive material was detected in any of the holes (MAN-06-08; MAN-05-03; MAN-05-11;
MAN-06-02; MAN-06-09 & MAN-05-14) surveyed.

Selective prospecting and mapping of the melt sheet - basement contact at the margins of the Manicouagan meteorite impact crater is currently being undertaken to assist placing the geophysical and diamond drilling results in a
regional context. It is hoped this work will assist in identifying a discrete area of increased prospectivity to focus future efforts.

Following completion of the current phase of field work, results, including those from previous years, will be compiled and assessed with the intention of developing a strategy to advance the project.

It should be stressed that the Company has drilled only 20 holes for a total of 13,045 metres within the crater area which is over 65 km in diameter (current land holdings are 1665 claims). There remain many unexplored targets
and the Company's main efforts going forward will be to compile a short-list of high priority target areas for future work.

Mouchalagane Property - Additional Encouraging Assay Results Received - Land Position Increased

Fieldwork on the Mouchalagane property, situated some 300 kilometres north of Baie Comeau, resumed during the first week of September. This work is designed to follow-up on the very encouraging grab samples of nickel-copper-palladium-platinum mineralization (including 6.99% copper, 2.68% nickel, 12.5 g/t palladium and 4.1 g/t platinum from grab sample 43461) that were discovered earlier this year. (See MAM Press Release dated August 23, 2006.)

Complete assay results have been received from the Bob, Feu and Dernier Chance showings and these results are compiled in an updated table and location plan which are available with the copy of this press release posted
at www.manicouaganminerals.com. New assays include 2.15% copper, 1.15% nickel, 2.06 g/t palladium and 0.667 g/t platinum from grab sample no. 43462 from the Feu showing. At Dernier Chance a consolidated sample (no. 43471) of
chalcopyrite rich material was assayed for research purposes and assayed in excess of 11% copper.

Work in September focused on the Bob, Feu and Dernier Chance showings which consisted of stripping and power washing in areas of shallow overburden to further expose mineralized zones to enable a systematic channel sampling
program to be carried out. To date mineralization at the Bob showing has been extended for a total strike length of approximately 60 metres respectively over widths of up to 1.12 metres. Mineralization at Feu and Dernier Chance
consists of discontinuous lenses of massive pyrrhotite +/- chalcopyrite up to 0.6 metres in width and 1.0 metres in length.

Channel sample results from the current program are expected to be available in late October. These results together with the encouraging geophysical results obtained to date will assist, in the delineation of targets for drill testing in 2007.

An additional thirty claims contiguous to the property have been map designated, increasing the number of claims held to 88 (4,644 hectares).

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 four base metal projects located in Quebec and Saskatchewan, 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.

See attached table and location map: http://www.ccnmatthews.com/docs/10-05-06_table-map.pdf

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