Manicouagan Minerals Inc.

Manicouagan Minerals Inc.

May 14, 2008 16:05 ET

Manicouagan Receives Preliminary Airborne Data for Mouchalagane Nickel-Copper-PGE Project and Other Mid-North Quebec Projects


TORONTO, ONTARIO--(Marketwire - May 14, 2008) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that it has received the preliminary results of the 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 Releases dated February 21, 2008 and April 23, 2008).

Preliminary results consist of total magnetic field contour maps, electromagnetic profiles and computer assigned undifferentiated electromagnetic anomaly picks. The survey which was flown with the AeroTEM II (airborne electromagnetic and magnetic) system has identified numerous electromagnetic anomalies displaying a large range of conductivities some of which correlate with magnetic anomalies.

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.

Final interpreted results of the survey are pending. Current efforts are being directed at identifying those targets which exhibit geophysical characteristics typical of massive sulphide mineralization in order to expedite the identification of prospective targets for the upcoming 2008 drilling campaign. Drilling is expected to commence during the first week of June 2008.

Additional Ground Acquired in Mid-North Quebec - Winter House Gold Property

Manicouagan also announced today that it has agreed to acquire from Explorations J.F. Inc. 18 mining claims that are part of a gold exploration property known as Winter House.

The Winter House gold property consists of a total of 128 claims (6,682.88 ha) within NTS areas 23C09 and 23C10 in Quebec. The property is about 95 kilometres west of Fermont and some 85 kilometres north of the Company's Mouchalagane Nickel/Copper/PGE property. Highway 389 which links Baie Comeau with Fermont is situated about 75 kilometres east of the property.

Preliminary investigations by Manicouagan during the 2007 field season indicated the presence in outcrop of highly sheared rocks with attendant sulphide mineralization. Grab samples of mineralized bedrock material assayed up to 1.03 g/t gold.

The property is believed to be underlain by a volcano-sedimentary sequence of Archean aged rocks of the Opatica sub-province of the Superior Geological Province of the Canadian Shield.

Manicouagan has agreed to issue 200,000 of its common shares to Explorations J.F. Inc., as well as a 2% Net Smelter Return in the event of a mining operation involving all or any part of the 128 claim property. Manicouagan has retained an option to purchase three quarters of the 2% Net Smelter Return for $1 million, leaving Explorations J.F. Inc. with a 0.5% Net Smelter Return. The Company will have six months from the date that a production decision is announced to exercise this option. The agreement is subject to regulatory approval. On closing, Manicouagan Minerals will own a 100 percent interest in the 128 mining claims.

The Winter House gold property was also included in the areas surveyed by the recently completed AeroTEM II survey. The survey at Winter House was done using a line spacing of 200 metres rather than the 100 metres that was used to survey the Company's prospective nickel-copper-PGE properties.

A sketch showing the location of the Winter House gold property and Manicouagan's other properties in Mid-North Quebec is attached.

Exploration programs are being carried out under the supervision of Rod Thomas, P. Geo Vice President - Exploration of the Company. Frank Jagodits, P.Eng., Consulting Geophysicist is providing quality assurance, quality control and data interpretation for the survey. Messrs Thomas and Jagodits have both reviewed and verified the technical content of this press release on behalf of Manicouagan Minerals are "Qualified Persons" as defined in National Instrument 43-101.

Manicouagan Minerals Inc. is a Canadian based exploration company with a diversified portfolio of properties including the Brabant Lake Zinc deposit in Saskatchewan and the Mouchalagane Nickel/Copper/PGE project in Quebec.

Additional information about Manicouagan Minerals and its exploration projects 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.

To view a copy of the entire release with map attached, please visit the link below:

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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