NEWS RELEASE
MANICOUAGAN MINERALS REPORTS POSITIVE ASSAY RESULTS FROM ITS CLORIDORME ALUMINOUS CLAY PROPERTY - DRILLING PROGRAM PLANNED
TORONTO, August 2, 2012 - Manicouagan Minerals Inc. (TSXV -- MAM) is pleased to report very favourable alumina (Al2O3) assay results from the first phase of a mapping and sampling program on its Cloridorme Property located in the Gasp? Peninsula of Quebec and announces the signing of a drilling contract.
Cloridorme Aluminous Clay Property
Between June 10th and 22nd 2012, a geological reconnaissance mapping, prospecting and sampling program was completed on Manicouagan�s 101 claim Eastern Block which is contiguous to the east of Orbite Aluminae�s Grande-Vall?e property and is on strike with its Marin deposit (see MAM Press Release dated February 7, 2012). A total of 100 samples were collected, described, photographed, and assayed (ALS Chemex Laboratory of Val-d�Or). Eighty one (81) samples were taken from the aluminous shales and mudstones. Thirty nine (39) samples (48%) returned significant values between 17.01% and 22.68% Al2O3. Assay results for Rare Earth Elements (REE) and Rare Metals on selected samples are pending.
Several outcrops of aluminous red, green and grey claystones (argillites) and mudstones were sampled along north-south traverses (sections) throughout the property. The aluminous red and green argillites host sedimentary rock units which belong to the l�Orignal Formation and generally strike east-west across the property and dip south. Calcareous shales, sandstones, limestones, conglomerates and quartzitic arenites make up the rest of the lithological units of the Trois-Pistoles Group on Manicouagan Minerals� East Claim Block.
Based on these encouraging and very significant results, Manicouagan Minerals Inc. has engaged a drilling company to follow up with a first phase of orientation drilling, targeting the mineralized aluminous green and red argillites as soon as necessary permits, which have been applied for, are granted by the Quebec Ministry of Natural Resources, Fauna and Park.
Manicouagan�s CEO, Brian Carter, commented, �We are very excited about these results as they indicate that the aluminous clays are present throughout the property, as evidenced by numerous outcroppings. We are also pleased to see the high percentage of samples reporting alumina assays in the expected range of 17% to 23%.�
About Manicouagan
Manicouagan Minerals Inc. is a Canadian based exploration company focused on advancing its aluminous clay property in the Gasp? Peninsula of Quebec and its gold projects in the Pickle Lake Gold Belt, Ontario. Manicouagan also has commodity projects including the Brabant Lake Zinc deposit in Saskatchewan, and the Mouchalagane Nickel/Copper/PGE and HPM/Forgues Nickel/Copper/Cobalt projects in Qu?bec.
Qualified Person
Exploration programs on Manicouagan�s Cloridorme Aluminous Clay Property are carried out under the supervision of Mr. Alain-Jean Beauregard, P. Geo., OGQ, FGAC. Mr. Beauregard 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.
Additional information about Manicouagan and its exploration projects can be found at www.manicouaganminerals.com.
Une traduction fran?aise de ce communiqu? de presse est disponible ? www.manicouaganminerals.com.
For further information contact:
W. Brian Carter, Chief Executive Officer
briancarter@manicouaganminerals.com
(416) 542-3980
Or investorrelations@manicouaganminerals.com
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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Latest Updates:
June 7, 2012
Manicouagan Announces Closing of First Tranche of Private Placement
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June 1, 2012
Manicouagan Announces Private Placement And Corporate Update
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May 25, 2012
Manicouagan Minerals - Update on Exploration Properties
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