Morgain Minerals Inc.
TSX VENTURE : MGM

Morgain Minerals Inc.

November 29, 2006 12:11 ET

Morgain Files El Castillo Preliminary Feasibility Study on SEDAR

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 29, 2006) - Further to its news release dated October 27, 2006, Morgain Minerals Inc. (TSX VENTURE:MGM) announces the Preliminary Feasibility Study ("PFS") for its 100% owned El Castillo Gold Project located in the State of Durango, Mexico has been filed on SEDAR.

The PFS was prepared by A.C.A. Howe International Limited ("Howe"). Three independent Qualified Persons from Howe participated in its completion. The PFS is available for viewing on Morgain's website at www.morgainminerals.com and the SEDAR website at www.sedar.com.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS:

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the future price of gold, the timing of exploration activities, the mine life of the El Castillo Project, the economic viability and estimated internal rate of return of the El Castillo Project, the estimation of mineral resources, the results of drilling, estimated future capital and operating costs, future stripping ratios, projected mineral recovery rates and Morgain's commitment to, and plans for developing, the El Castillo Project. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Morgain to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and potential development of the El Castillo Project, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of copper, silver and molybdenum. Although Morgain has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Morgain does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Morgain Minerals Inc.
    Richard Adams
    Director and VP Corporate Development
    (905) 466-8008
    Email: morgain@telus.net
    Website: www.morgainminerals.com
    or
    Coal Harbor Communications Inc.
    Dale Paruk
    (604) 662-4505 or Toll Free: 1-877-642-6200