Manicouagan Minerals Inc.
TSX VENTURE : MAM

Manicouagan Minerals Inc.

March 04, 2008 16:01 ET

Manicouagan Reports Results From Brabant Lake Drilling-Assays Up to 17.04% Zinc Over 5.71 Metres and 135.4 Grams Per Tonne Silver Over 8.97 Metres

TORONTO, ONTARIO--(Marketwire - March 4, 2008) - Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today additional encouraging assay results from the Phase II drill program on its wholly owned Brabant Lake Zinc Deposit in Saskatchewan. Assays for drill holes BR-08-41 to BR-08-45, inclusive have been received and are set out below. Assays for drill holes BR-08-46 to BR-08-48 are pending. As previously announced the Phase II drill program at Brabant Lake has been completed and a resource estimate focused on the higher grade Lower Zone is expected to be completed by the end of April 2008 (see MAM Press Release dated February 14, 2008).

The Lower Zone was intersected in four of the five holes with drill hole BR-08-45 assaying 17.04% zinc (Zn), 0.73% copper (Cu), 0.14% lead (Pb), 32.3 g/t silver (Ag) and 0.15 g/t gold (Au) over 5.71 metres. Drill hole BR-08-43 intersected only the Upper Zone from 234.08 to 238.28 metres down-hole and assayed 9.01%Zn, 1.85%Cu, 0.03% Pb, 34.05 g/t Ag and 0.03% Au.

Elevated silver values were intersected in BR-08-44 which assayed 135.4 g/t Ag over an interval of 8.97 metres. The mineralized intervals in drill hole BR-08-44 have initially been logged as the Upper and Lower zones however metal grades are more typical of the Lower and Footwall zones (respectively), intersected in other holes on the property.



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Hole Zone From To Length Zn(%) Cu(%) Pb(%) Ag(g/t) Au (g/t)
ID ID(i) (ii)(m)
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BR-08-41 UZ 132.55 135.87 3.32 11.90 0.82 0.02 16.4 0
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LZ 170.45 172.45 2.00 5.79 1.76 0.17 42.8 0
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BR-08-42 UZ 137.75 144.84 7.09 8.34 1.16 0.02 18.4 0
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LZ 193.87 196.71 2.84 11.76 0.10 1.40 65.24 0
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BR-08-43 UZ 234.48 238.28 4.0 9.01 1.85 0.03 34.05 0.24
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BR-08-44 UZ(?) 250.02 251.92 1.9 16.57 0.64 0.00 17.6 0.00
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LZ(?) 289.73 298.70 8.97 2.10 0.62 3.81 135.4 0.78
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BR-08-45 HWZ 200.00 201.10 1.10 7.79 0.68 0.02 12.0 0.00
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UZ 211.76 216.73 4.97 5.98 0.69 0.03 15.5 0.00
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LZ 244.42 250.13 5.71 17.04 0.73 0.14 32.3 0.15
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(i) Hanging-wall Zone (HWZ), Upper Zone (UZ), Lower Zone (LZ), Footwall
Zone (FWZ)
(ii) down-hole length approximately 85% true width


A sketch showing drill hole locations will be posted to the Company's website when available. A table of drill results to date as well as additional information on the project, including a NI 43-101 Technical Report prepared by MPH Consulting Ltd and filed with the Company's filings at www.sedar.com, is available on the Company's website at www.manicouaganminerals.com.

The Brabant Lake property consists of 21 contiguous claims registered as ML 5054 and is located immediately east of Highway 102 some 175 km from the all services community of La Ronge, Saskatchewan.

Lac Maugue Update

Manicouagan also announced today that it has elected to not make the payment due to the Labrador Silver Syndicate in respect of 88 claims that formed a small portion of its Lac Maugue project in the Dunphy-Romanet Lakes area of the central Labrador Trough region of northern Quebec, some 160 kilometres northwest of the all services town of Schefferville, Quebec.

The remaining property consists of 714 claims in which Manicouagan holds a 100% interest. The eastern portion of the claim block was the subject of a helicopter airborne radiometric survey complete in 2007 (see MAM Press Release dated August 2, 2007). The survey identified a number of radiometric targets that warrant follow-up on the ground. The Company is currently seeking a joint venture partner to advance this project.

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 employs 43-101 compliant QA/QC procedures at all points in the sampling, handling, storage and shipment of samples. Blind standards and blanks are inserted into the sample sequence in the field. Analytical services are provided by TSL Laboratories of Saskatoon, Saskatchewan. Samples are crushed, riffle split and pulverized to yield a 250 gram pulp with approximately 95% -150 mesh. Ag, Cu, Pb and Zn assay is by multi-acid digestion; samples for Ag (g/tonne) and base metals (%) are weighed at 0.5 g. Samples for Au fire assay/gravimetric are weighed at 1 AT (29.16 g). Details on analytical techniques employed by TSL Laboratories may be found on the laboratories' website at www.tsllabs.com.

Manicouagan Minerals Inc. (TSX VENTURE:MAM) is a Canadian based exploration company with a diversified portfolio of properties including the Brabant Lake Zinc/Copper 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 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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