Maudore Minerals Ltd.
TSX VENTURE : MAO

Maudore Minerals Ltd.

October 11, 2005 10:40 ET

Maudore Acquires 100% of Comtois Gold Property

MONTREAL, QUEBEC--(CCNMatthews - Oct. 11, 2005) - Maudore Minerals Ltd. (TSX VENTURE:MAO) is pleased to announce a final Agreement has been reached with Cameco Corporation resulting in the 100% acquisition of the Comtois gold property in Quebec. The purchase price is $140,000 to be paid upon closing. Maudore is also committed to buyback the 222,987 common shares of Maudore owned by Cameco with payments to be made over a nine-month period from closing, at a price of $0.22 per common share.

Maudore optioned the high grade Comtois Property from Cameco in 1998 and spent the required exploration funds in the ensuing years to earn a 54% interest. An important facet of this Agreement eliminates the 2% Net Smelter Royalty that Cameco had been entitled to. The N.I. 43-101 report prepared in 2002 by Roscoe Postle estimates Comtois' inferred resources at over 250,000 ounces of gold when cut and over 500,000 ounces uncut.

The Cameco agreement completes a restructuring of the Company which began last year with a share rollback, management change, appointment of new Directors encompassing half the Board, and a corporate name change. Maudore intends to raise sufficient funds in order to recommence exploration on the Comtois property. Maudore also is actively exploring possibilities for the acquisition of other properties and combination of business assets to achieve its stated corporate goals of asset and geographic diversification.

Maudore Minerals Ltd. is a junior exploration company with interests in mineral projects in Quebec. Its principal property is the Comtois gold project. The company is traded on the TSX Venture Exchange under the symbol MAO.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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