Morgain Minerals Inc.

Morgain Minerals Inc.

April 24, 2007 16:09 ET

Morgain Announces Third Amendment to Loan Agreement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 24, 2007) - Morgain Minerals Inc. (TSX VENTURE:MGM) announced that its loan facility with H. Morgan & Company (see news releases dated March 29, 2005 and November 28, 2006) has been increased from $7,000,000 to $7,240,000. All accrued interest on the loan as of April 30, 2007 has been converted into principal plus an additional $3,287 for interest accrued on $1,000,000 between April 20, 2007 and April 30, 2007 for a total loan of $7,243,000. Proceeds of the original loan amount were used to advance work on Morgain's Castillo gold project.

About Morgain Minerals Inc.

Morgain Minerals Inc. is an emerging gold mining company focused on the acquisition and development of profitable gold mines in Mexico. Morgain is currently developing its 100% owned Castillo Gold Project located in the State of Durango, Mexico. Visit Morgain's website for the latest corporate information.

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