Murgor intersects more gold underneath the open pit at the golden arrow gold mine timmins ontario.

Murgor Resources Inc. (MGR: TSX-V) announced today that it has received the results from another four drill holes at the Golden Arrow Gold project, located 65 kilometres east of Timmins, Ontario.  Three of the four holes were drilled from the 90 foot bench of the Golden Arrow open pit while drill hole #8 was drilled from the eastern edge of the open pit.  The holes were designed to test the gold mineralization below the open pit floor. 

Complete results from Murgor's drilling are listed below.  Results from holes A10-01 to A10-04 were released previously in a press release dated Dec. 10, 2010.  Other results are new.

^{* True widths = 75% of reported core lengths.
**   Missing core between 66.2 and 69.2 meters due to old mine workings not included in core length.
*** Missing core between 68.5 and 70.0 meters due to old mine workings not included in core length.}

"Murgor's due diligence work is now completed and the initial drill results reinforce Murgor's objective to become a near-term gold producer at Golden Arrow." said André Tessier, President and CEO of Murgor Resources. "As announced, Murgor and Victoria have now signed the option agreement for the Golden Arrow Mine, and an initial 5,000 meter drill program is scheduled to start this month."

The drilling program was aimed at testing a 75 meter strike length of the mineralized zone underneath the current floor of the open pit at the Golden Arrow Mine.  Due to the logistical limitations of drilling during the fall in a partially flooded open pit, only three of the drill holes pierced portions of the mineralization where historical reserves had been outlined by Pamour Mines at Golden Arrow in 1982.  All three drill holes show a great improvement in the width of the mineralized zone, compared to the historical reserve figures, as shown in the table below:

The remaining drill holes intersected what is believed to be a broad halo of potentially economic gold mineralization, previously outlined by Victoria Gold Mines, extending the Pamour Mines gold zone to the north.  The zone remains untested to the south and at depth.  Please see the longitudinal section attached to this press release at www.murgor.com.  

The drill hole results are part of Murgor's due diligence drilling program at the Golden Arrow Gold Mine. On February 7th, 2011, Murgor signed a definitive agreement with Victoria Gold Mines (East Timmins) Ltd to acquire an interest of up to 70% in the Golden Arrow Gold Mine property.  Final approval of the transaction by the TSX Venture Exchange is pending. In order to obtain final approval, Murgor must provide the TSX Venture Exchange with, among other things, a technical report on the property comprising the Golden Arrow Gold Mine which is compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Gold analyses reported in this release were performed by standard fire assay using a one assay ton aliquot with a gravimetric finish.  All assays were performed by Activation Laboratories Ltd, in Timmins, On. Sampling and analytical procedures are subject to Murgor's comprehensive Quality Assurance and Quality Control program.  The QA-QC program, includes duplicate samples, blanks and analytical standards.

About the Golden Arrow Gold Mine:

The Golden Arrow property consists of 17 mining patents and leases, and two mining claims covering 524 hectares in Hislop Township and located 65 kilometers east of the Town of Timmins in Ontario.  In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 g/t) from the Arrow open pit.  Mining ceased due to low gold prices.

The property was originally explored underground in the 1940s to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435ft (130m) below surface and undertook about 700m of horizontal development on the 250ft (76m) and 400ft (122m) levels.

The Golden Arrow property is underlain by Mafic Flows and Syenite Intrusions with younger post mineral Diabase. Gold is associated with pyrite-quartz veining and hematitic/potassic alteration associated with a quartz vein stockwork within a syenite intrusion and related to a NE-SW structure associated with the Porcupine-Destor Fault Zone.  The property covers a two kilometre strike extent of this NE-SW structure.  The Golden Arrow gold deposit is located 5 km SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989.  Also located in Hislop Twp are the presently producing Hislop Mine of St. Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp.  Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development company focused on near-term production at the Golden Arrow Gold Mine in Ontario.  Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba.  The company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Québec. 

The table below shows the total 43-101 compliant resource for Murgor's Hudvam and Wim deposits.

For statement of resources, see Murgor Press Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

The technical information in this news release has been reviewed by Mr. John Reddick, P.Geo, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, responsible for the supervision of the project.

This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, 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 Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.