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| | June 19, 2007
Manicouagan Appoints Chief Financial Officer - Expands Geological Team - Grants Options
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| | TORONTO, June 19, 2007 - Manicouagan Minerals Inc. (TSXV - MAM) announced today that it has appointed Erik H. Martin as Chief Financial Officer and Secretary of the Company. Mr. Martin, a Certified Management Accountant ("CMA"), has 14 years of management experience with a focus on publicly listed resource companies. He has held financial management and/or consulting roles with companies such as Northwestern Mineral Ventures, Olympus Pacific Minerals, Southern Cross Resources Inc., now sxr Uranium One Inc., Tiomin Resources Inc. and Pangea Goldfields Inc., which was acquired by Barrick Gold in 2000. Mr. Martin's key areas of expertise include regulatory and financial reporting, administrative and budgetary management, and accounting process design. He graduated from the University of Quebec at Rimouski with a Bachelor of Commerce in Accounting and received his CMA accreditation in 1996.
Mr. Martin replaces Arthur Hampson who has stepped down to pursue other business opportunities. Mr. Hampson will continue to be available to Manicouagan as a consultant during the transition period and the Company wishes him success in his future endeavours.
EXPANDS GEOLOGICAL TEAM
Manicouagan also announced today that A. James McCann has joined the Company in a consulting role as District Geologist - Quebec. Mr. McCann is an exploration and development geologist with over 30 years experience, most of which was gained while working for SOQUEM Inc. James has been a national member of the CIM since 1978 and was president of the Industrial Minerals Division in 1998-1999. James holds a B.A.Sc. from Queen's University and a M.A.Sc. from École Polytechnique. He is also a member of the Quebec Professional Geologists Association ("OGQ").
François Bissonnette has also joined the Manicouagan geological team as Senior Project Geologist. Mr. Bissonnette is an exploration geologist with over 15 years exploration experience, a good portion of which has focused on magmatic nickel-copper-cobalt exploration within Quebec. François holds a B.Sc. (Geology) from the Université Laval and is a member of the OGQ.
GRANTS STOCK OPTIONS
Manicouagan's Board of Directors has approved the issuance of 610,000 options under the Company's Stock Option Plan. These options are being granted to the newly appointed CFO, certain geological consultants and an employee of the Company, and are exercisable into common shares of the Company at a price of $0.20 per share. Subject to the rules of the TSXV and the Company's Stock Option Plan the options have a term of five years and will expire on June 18, 2012.
Manicouagan Minerals Inc. is a Canadian based exploration company with a diversified portfolio of properties. The Company currently holds four base metal projects located in Saskatchewan and Quebec, on which exploration programs are ongoing.
Additional information about Manicouagan Minerals and its exploration projects can be found at www.manicouaganminerals.com.
For further information contact:
Joseph Baylis, President and Chief Executive Officer
(416) 542-3980
investorrelations@manicouaganminerals.com
The TSXV has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The TSXV has neither approved nor disapproved the contents of this news release.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators. |
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| | You can view the Previous Press Releases item: Tue Jun 12, 2007, Manicouagan Commences Phase II Diamond Drilling of the Brabant Lake Zinc-Copper Deposit
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