Manitou Gold Inc.
TSX VENTURE : MTU

Manitou Gold Inc.

July 11, 2011 15:30 ET

Manitou Gold Closes Harper Lake Property Acquisition

SUDBURY, ONTARIO--(Marketwire - July 11, 2011) - Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou Gold" or the "Company") announced today that it has closed its previously announced acquisition of a 100% interest in the property known as the Harper Lake property consisting of 7 claims (73 claim units) in northwestern Ontario. Under the terms of the acquisition agreement, Manitou Gold acquired its 100% interest in the Harper Lake property in exchange for the payment of $25,000 in cash and the issuance of an aggregate of 50,000 common shares of the Company. All of the securities issued in connection with the acquisition are subject to a statutory hold period expiring on November 9, 2011.

Statements in this release that are forward-looking statements are subject to various risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of exploration results and estimates and that the resource potential will be achieved on exploration projects, currency fluctuations, dependence upon regulatory approvals, the uncertainty of obtaining additional financing and exploration risk. Readers should also refer to the specific factors disclosed under the heading "Risk Factors" in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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