Maudore Minerals Ltd.

Maudore Minerals Ltd.

August 16, 2006 09:49 ET

Maudore Minerals Limited: Initial 2006 Drill Results Confirm Comtois Gold Mineralization

Intersections Include 49.8 g/t and 13.15 g/t Au Both Over 1.0 Meter, 24.6 g/t Au Over 0.65 Meters, 24.8 g/t Au Over 0.5 Meters, 10.58 g/t Au Over 1.25 Meters, And 7.65 g/t Au Over 2.75 Meters

MONTREAL, QUEBEC--(CCNMatthews - Aug. 16, 2006) - Maudore Minerals Limited (TSX VENTURE:MAO) is pleased to announce its first set of results from its 2006 diamond drilling program at Comtois. This supplements more than 100 past drill holes done before acquisition of the entire interest from Cameco. Phase I of the 2006 Program began earlier this spring with compilation, core review, geological and geochemical studies followed by a new drilling phase. During June and July, eleven (11) additional holes were drilled for 2,694 meters specifically targeting the Comtois' Osborne and Bell zones. The vertical depth of the holes were drilled to only 120 to 230 meters.

(Comtois contains a 808,000 ton resource of 524,000 inferred ounces of gold (uncut). The uncut grade is over 20 grams (0.65 ounces) of gold per ton. A report by Roscoe Postle Associates, which qualifies as a NI 43-101 audit, is available on SEDAR - Dec. 17, 2003).

Exploration results so far are encouraging and suggest that the Comtois mineralized system is related to a major syn-volcanic gold-rich hydrothermal system, as indicated by many geological features (volcanic, structural, alteration), multiple mineralization styles (disseminated sulphides, high-grade veinlets, and massive sulphide mineralization), and association with low-base metals content (copper and locally zinc). Such features are similar to those documented in the well-known "Doyon-Bousquet-LaRonde" gold district.

Drilling results from the Osborne Zones

Six (6) diamond drill holes have been completed on the Osborne zones, partial assay results (4 holes: COM-06-102, 103, 104 and 105) confirm prior favourable results.

Significant results obtained from drill hole COM-06-102 are:
- 24.6 g/t Au over 0.65m (46.7m - 47.35m)
- 15.98 g/t Au over 0.65m (55.8m - 56.45m) Osborne North
- 7.9 g/t Au over 0.6m (106.9m - 107.5m) Osborne South
- 8.68 g/t Au over 1.6m (161.4m - 163.0m) Osborne S-South
- Including 15.58 g/t
Au over 0.6m (161.4m - 162.0m)

Significant results obtained from drill hole COM-06-103 are:
- 13.15 g/t Au over 1.0m (201.25m - 202.25m) Osborne South

Significant results obtained from drill hole COM-06-104 are:
- 10.58 g/t Au over 1.25m (181.45m - 182.7m) Osborne South
- Including 24.8 g/t
Au over 0.5m (182.2m - 182.7m)
- 7.65 g/t Au over 2.75m (208.45m - 211.2m) Osborne S-South
- Including 13.35 g/t
Au over 0.95m (208.45m - 209.4m)
- 7.46 g/t Au over 1.85m (214.95m - 216.8m)
Including 13.4 g/t
Au over 0.8m (216.0m - 216.8m)

Significant results obtained from drill hole COM-06-105 are:
- 6.36 g/t Au over 13.3m (190.0m - 203.3m) Osborne S-South
- Including 10.52 g/t
Au over 0.55m (190.0m - 190.55m)
- Including 49.8 g/t
Au over 1.0m (199.8m - 200.8m)

Note: in this release, drill intervals are expressed over core length. Considering both the dip of the drill holes and the strike and dip of the mineralized zones, core length and true width are close to being the same.

Drilling results from the Bell Zones

Five (5) diamond drill holes have been completed on the Bell zones so far. Anomalous grades are reported from partial assay results (3 holes: COM-06-107, 109 and 110). Structural changes in the western Bell area suggest folding, and drilling angles will be revised during Phase 2 drilling.

Additional Exploration -- VTEM Survey

The Comtois style of mineralization is amenable to detection by geophysics. Therefore, Maudore has contracted Geotech Ltd. to carry out a 300 line-km helicopter-borne geophysical survey covering a major portion of its 4,600 hectare property. The Geotech VTEM (Versatile Time-Domain Electromagnetic) geophysical system has been retained in order to investigate the mineral potential and also generate new target areas in the vicinity of the Comtois gold deposit.

The Next Drilling Phase

Comtois' 2006 drilling program, now entering Phase 2, will continue until the end of the year. The focus continues on the known gold-bearing zones with two main objectives: (1) bring tonnage at a higher confidence level; and (2) add tonnage and therefore, gold ounces in the extension of the known zone (at depth and laterally) for both the Osborne and Bell areas. In parallel, a portion of the exploration budget will test the potential for new discoveries with follow-up drilling on targets generated from the VTEM survey, whole-rock geochemistry and other geological investigations.

Quality Assurance and Quality Control (QA/QC)

The Comtois exploration and drilling program is supervised by Mr. Alain Carrier, M.Sc., P.Geo., and Ms. Christine Beausoleil, B.Sc., P.Geo., from InnovExplo: a Consulting Firm in Mines and Exploration based in Val-d'Or (Quebec). Mr. Carrier and Ms. Beausoleil are Qualified and Independent Person as defined under NI 43-101 guidelines. Sampled core was sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. A strict QA/QC program is followed which includes mineralized standards, blank and field duplicate. Analyses were performed by ALS-Chemex - Chimitec and by Bourlamaque laboratories both of Val-d'Or (Quebec).

About Maudore Minerals

Maudore Minerals Limited is a Canadian exploration company listed on the TSX Venture Exchange under the symbol MAO, and the Frankfurt Stock Exchange under the symbol M6L.

Maudore recently began re-drilling the high grade Comtois gold property in Quebec, after consolidating its position by securing 100% in late 2005. In July 2006, Maudore raised $1.37 million in an equity financing, mainly to delineate and increase the resource on its Comtois property. The Company believes Quebec is the most favourable jurisdiction for any mining property. It has an historical mining tradition with numerous well-trained people with mining skills, and superior financial incentives for explorers. Maudore intends to spend sizeable additional amounts on the Comtois and other future targets in the Province.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that the actual developments or results may vary materially from those in these "forward-looking statements".

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

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