MURGOR RESOURCES
ACQUIRES RED LAKE GOLD PROPERTIES
Kingston, Ontario, August 27, 2009 - Murgor Resources Inc. (MGR: TSX-V)
announces that it has acquired the right to earn a 100% interest in two gold
exploration properties near Red Lake,
Ontario.
The Gullrock Property consists of eight claims
located one kilometer east of Goldcorp's Red Lake
property and on strike with the Campbell-Red Lake Gold Mine. The property
covers 1,409 hectares
of what is known as "the Mine trend" south-east of Red Lake.
The "Mine Trend" hosts the Campbell-Red
Lake, Cochenour-Willans
and the MacKenzie Gold Mines where more than 20
million ounces of gold have been mined to date. Reserves stand at 3.6
million gold ounces at the Campbell-Red Lake Mine (Goldcorp's annual report
2008). Despite the fact that the Gullrock property
geology bears similar geology as the Campbell-Red Lake Mine setting, the
property has seen very limited exploration work and its exploration potential
is deemed excellent. Murgor has already
identified untested geophysical anomalies on the property that coincide with
gold in soil geochemical anomalies. These exploration targets will be tested in
2009-2010. Under the terms of the option, Murgor
will earn a 100% interest in the property by making aggregate cash payments of
$88,500, issuing a total of 120,000 common shares over a period of 48 months
and by incurring $50,000 of exploration expenditures over a period of 12
months.
The Premiere Property is located in the Uchi
Belt and consists of three mining claims covering 524 hectares. The
property is located immediately south of the Hudson-Patricia mine which
produced 1900 ounces
of gold with an average grade of 0.165 oz/ton. The property covers the Rouillard and the Particia-Dent
exploration shafts. At both localities, gold is hosted by quartz veins
ranging in width from 40 cm
to 1.0 meter
wide grades of up to 0.64
ounces per ton. During due diligence work, Murgor geologists collected three grab samples that
returned assays of 128.5 g/t, 116.2 g/t and 9.0 g/t gold. The
Premiere Property has seen very limited exploration work and is deemed as having
great exploration potential. Under the terms of the option, Murgor will earn a 100% interest in the property by making
aggregate cash payments of $73,000 and issuing a total of 180,000 over a period
of 48 months.
A location map of the Gullrock property is attached
to this press release on Murgor's website and can be
viewed at www.murgor.com.
Dr. Jean-Philippe Desrochers, P.Geo and Vice-President of Exploration for Murgor Resources, and Neil W. Richardson, P.Geo. and Manager of Central Canada Exploration for
Murgor Resources Inc. are Qualified Persons, as
defined by NI-43-101 and have verified the technical information reviewed in
this news release.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and
development company focused on copper, zinc and gold deposits. The
company is earning a 100% interest in three deposits, adjacent to the Snow Lake
and Flin Flon mining
districts of Manitoba, from HudBay Minerals Inc. (TSX:HBM).
Murgor is also exploring an exceptional portfolio of
gold properties in proven mining districts of Canada,
owns a 1% NSR royalty in the Barry Gold Mine and an interest in the advanced
Windfall Gold Project in Quebec.
FOR FURTHER INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM
OR CONTACT:
Andr� C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
E-mail: info@murgor.com Web site:
www.murgor.com