Manitou Gold Inc.
TSX VENTURE : MTU

Manitou Gold Inc.

November 27, 2013 09:30 ET

Manitou Gold Inc. Gaffney Patents Assay Results

SUDBURY, ONTARIO--(Marketwired - Nov. 27, 2013) - Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou" or the "Company") announces the receipt of grab sample assay results from the recently completed work program on the Gaffney Patents Project. The purpose of the program was to relocate and sample a number of historical trenches previously worked on by Sylvanite Gold Mines Ltd. in 1943. The grab samples were collected from these trenches to determine the presence of gold across the property and to aid in the understanding of the mineralogical and structural controls on the gold mineralization.

A total of 105 grab samples were collected from various locations across the property including historical trenches, outcrop exposures around the Gaffney shaft and rock piles and bedrock exposures around the Beehive shaft (see map: http://manitougold.com/_resources/gaffney/20131127/Figure-1-rev.jpg). Assay results range from trace to 115.5 g/t Au. A list of assay results > 5 g/t Au for the Gaffney Shaft area can be found in Table 1 below. The complete list of grab sample results, as well as photos of some of the mineralized zones can be found on the Company's website (see photos: http://manitougold.com/projects/gaffney-extension/photos/).

Table 1:

Sample No. Zone Au (g/t)
N499640 Pit Bull 20.9
N499606 Pit Bull 17.4
N499964 Trench-E 15.5
N499968 Trench-H 11.5
N499613 Pit Bull 9.23
N499602 Pit Bull 9.15
N499637 Pit Bull 9.13
N499976 Trench-K 7.64
N499636 Pit Bull 7.21
N499953 Trench-A 7.11
N499960 Trench-C 6.61
N499601 Pit Bull 6.3
N499611 Pit Bull 6.07
N499974 Trench-I 5.94
N499618 Shaft Trench 5.83
N499961 Trench-D 5.76
N499957 Trench-B 5.43
N499955 Trench-B 5.28

See complete Gaffney shaft area assays: http://manitougold.com/_resources/gaffney/20131127/131126_-_Grab_Samples_Gaffney_Shaft_area.pdf

The majority of the historical trenches were located and despite being heavily overgrown, were cleared to obtain fresh representative samples. The assay results confirm the presence of gold mineralization in all of the historical trenches. Initial sampling has demonstrated gold mineralization along a 375 metre long trend of the trenches (see map: http://manitougold.com/_resources/gaffney/20131127/Figure_2.jpg).

The Beehive shaft, located on the northeastern portion of the Gaffney Patents Property was located and sampled during the course of this work. Samples returned some of the highest results of the program (115.5 g/t Au and 21.4 g/t Au) (see map: http://manitougold.com/_resources/gaffney/20131127/Figure-3-rev.jpg). A list of assay results > 1 g/t Au for the Beehive Shaft area can be found in Table 2 below. The high grade gold values are associated with massive pyrite within quartz vein material. There is sparse information available on the Beehive shaft area. The high grade gold samples obtained from this area were located on the waste rock pile and did not contain any visible gold.

Table 2:

Sample No. Zone Au (g/t)
N499840 Beehive 115.5
N499843 Beehive 21.4
N499995 Beehive 4.03
N499996 Beehive 3.76
N500000 Beehive 3.36
N499838 Beehive 1.375
N499845 Beehive 1.195

See complete Beehive shaft area assays: http://manitougold.com/_resources/gaffney/20131127/131126_-_Grab_Samples_Beehive_area.pdf

The geology of the Gaffney Patents has been interpreted through ground surveys by previous operators as a large fold pair structure (see map: http://manitougold.com/_resources/gaffney/20131127/Figure-1-rev.jpg). Gold was recognized to be contained within a diorite intrusion, however work by Manitou has identified gold mineralization associated with a prominent north-south trending quartz feldspar porphyry (QFP) dike as well as within areas along the contact of the QFP dike. Grab samples obtained from these zones returned assays up to 17.4 g/t Au.

Todd Keast, the President and CEO of Manitou, commented, "Sample results suggest substantial gold mineralization over a relatively large area. The current structural interpretation indicates the potential for a number of gold focusing structures that have not previously been evaluated both within the diorite intrusion as well as along structures at the axial hinges to the folds. The main north-south trending QFP dike near the Gaffney shaft, as well as other north-south trending QFPs located across the property are extremely favorable exploration targets. At this point it is not clear how the quartz veins and massive pyrite found in the vicinity of the historical Beehive shaft relate to the rest of the area. With approximately $1.5 million in the bank, we are well positioned to continue exploration on this highly prospective property."

Todd Keast, P.Geo., is the Qualified Person as defined under NI 43-101 who has reviewed and is responsible for the technical information presented in this news release.

Manitou is a Canadian exploration company with a 150 square kilometre land package of highly prospective gold properties located in the historical Gold Rock District, in Northwestern Ontario. This under-explored area has a very attractive geological setting hosting 61 known gold occurrences including three past producing mines (Big Master, Laurentian and Elora). Until recently, the area has remained relatively untouched by modern-day exploration, pointing to excellent discovery potential over this large land package.

The Company has implemented a quality control program to ensure best practice in sampling and analysis. Assayed samples are transported in security sealed bags for preparation and analysis at ALS Chemex facilities. ALS Chemex is an ISO 9001-2000 and ISO 17025 registered laboratory. Grab samples were analyzed for gold by 50-gm fire assay with AA finish and by gravimetric methods. Samples with visible gold are assayed by screened total metallics.

For further details about the Company's projects please visit the Manitou website at www.manitougold.com.

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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