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Feb 10, 2012
Manicouagan Receives TSXV Approval on Cloridorme Property and Grants Stock Options
TORONTO, February 10, 2012 - Manicouagan Minerals Inc. (TSXV -- MAM) announces that the TSX Venture Exchange has accepted for filing the documentation pertaining to its option agreement on the Cloridorme property announced February 7, 2012. Pursuant to the option agreement, Manicouagan can acquire a 100% interest in 114 mining claims prospective for Aluminous Clay and Rare Earths in the Gaspé Region of Quebec. The claims are adjacent to Orbite Aluminae Inc.'s Grande-Vallée property and on strike with its Marin deposit.
Also, Manicouagan's Board has approved the issuance of 980,000 options under the Company's Stock Option Plan. These options are being granted to directors, officers, consultants and employees of the Company, and are exercisable into common shares of the Company at a price of $0.15 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 February 10, 2017.
Manicouagan Minerals Inc. is a Canadian based exploration company with gold properties in the Pickle Lake Gold Belt, Ontario. Manicouagan also has the Brabant Lake zinc deposit in Saskatchewan, on which Votorantim Metals Canada Inc. is currently undertaking a drilling program.
Manicouagan is hosting Booth 3016 at the upcoming PDAC in Toronto from March 4 to March 7.
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.
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