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Sep 22, 2011
Manicouagan Options Key Ground At Brabant Lake, Saskatchewan
TORONTO, September 22, 2011 - Manicouagan Minerals Inc. (TSXV -- MAM) is pleased to announce that it has entered into an option agreement with the owners of Mining Claim MCSA-003 to earn a 100% interest based on a $10,000 payment on receipt of the signed claim transfer followed by payments totalling $65,000 and the issuance of 65,000 shares of Manicouagan Minerals Inc. over a three year period. The option agreement provides the optionors with a 2% NSR, which Manicouagan has the option of acquiring 50% of for $300,000.
The mining claim being acquired is contiguous with Manicouagan's Mining Lease which hosts the Brabant Lake Zinc deposit.
With this acquisition, Manicouagan will control 100% of 16 kms of the favourable horizon which hosts the Brabant Lake Deposit. In 2011, a 560 line-km airborne VTEM PLUS survey was completed on the ground. The geophysical interpretation of the data identified numerous targets for follow-up drilling.
The Option Agreement and the issuance of shares there under are subject to the approval of the TSX Venture Exchange. Any shares issued pursuant to the agreement will be subject to a 4 month hold period from the date of issuance.
Exploration programs on Manicouagan's Brabant Lake Property are carried out under the supervision of Mr. Bruce W. Mackie, P. Geo. Mr. Mackie, a professional geologist, has reviewed and verified the technical content of the information contained in this release and qualifies under the definition of "Qualified Person" set out in National Instrument 43-101.
Manicouagan Minerals Inc. is a Canadian based exploration company focused on advancing its gold projects in the Pickle Lake Gold Belt, Ontario. Manicouagan also has a pipeline of commodity projects including the Brabant Lake Zinc deposit in Saskatchewan, and the Mouchalagane Nickel/Copper/PGE and HPM/Forgues Nickel/Copper/Cobalt projects in Québec.
Additional information about Manicouagan and its exploration projects can be found at www.manicouaganminerals.com.
Une traduction française de ce communiqué de presse est disponible à www.manicouaganminerals.com.
For further information contact:
W. Brian Carter, Interim Chief Executive Officer
Forward Looking Statements
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
You can view the Next Press Releases item: Mon Oct 3, 2011, Manicouagan Signs A Letter of Intent to Option Its Brabant Lake Zinc Project in Saskatchewan to Votorantim Metals Canada Inc.
You can view the Previous Press Releases item: Tue Sep 13, 2011, Manicouagan Provides An Exploration Update On Its Pickle Lake Gold Properties<html><br><br></html> - Phase 2 Drilling Extends Gold Mineralization At Depth At Kasagiminnis -
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