Manicouagan Minerals Inc.

Published : February 09th, 2012

to Acquire an Aluminous Clay / Rare Earth Prospect in the Gaspe Region of Quebec

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Keywords :   Aluminum | Canada | Cobalt |
Greetings

Attached please find Manicouagan Minerals' News Release sent out Wednesday, February 7, 2012 entitled

MANICOUAGAN TO ACQUIRE AN ALUMINOUS CLAY / RARE EARTH PROSPECT IN THE GASPE REGION OF QUEBEC

  • an option to acquire 100% interest in 114 claims

  • 102 claims are adjacent to Orbite Aluminae's Grande-Vall�e property and on strike with its Marin deposit
Thank you for your interest in Manicouagan Minerals.

For further information, please contact

Brian Carter
Interim CEO
briancarter@manicouaganminerals.com


Re:        Press Releases - Tuesday, February 07, 2012
Title:     Manicouagan to Acquire an Aluminous Clay / Rare Earth Prospect in the Gaspe Region of Quebec

TORONTO, February 7, 2012 - Manicouagan Minerals Inc. (TSXV -- MAM) is pleased to announce that it has signed an Option Agreement to acquire a 100% interest in 114 mining claims prospective for Aluminous Clay and Rare Earths in the Gasp� Region of Quebec. The eastern block of 102 claims is adjacent to Orbite Aluminae Inc.'s ("Orbite") Grande-Vall�e property and on strike with its Marin deposit. The remaining claims are on strike to the west of Orbite's property.

These new claims will form the Company's Cloridorme property. The claims cover approximately 17 kms of the favourable argillite formation that hosts the Marin deposit. The boundary of the eastern Cloridorme block is approximately 1 km from Orbite's Marin deposit. Orbite filed a Preliminary Economic Assessment on its Metallurgical Grade Alumina Project in early January.

Terms of the agreement are:
  • An initial payment of $50,000 and 1.5 million shares;
  • $50,000 and 1.5 million shares by October 30, 2012;
  • $400,000 on or before October 30, 2013. Manicouagan has the option to pay up to $300,000 of this amount in common shares. The price per share will be based on the volume weighted average trading price for the 10 trading days immediately preceding October 30, 2013;
  • Complete $200,000 of exploration on the property prior to October 30, 2012.

Upon completion of the option to earn a 100% interest in the claims, Manicouagan will grant the optionor a royalty, equivalent to a 2% net smelter return ("NSR"). Manicouagan has the right to purchase 100% of the NSR at any time for $1 million.

Manicouagan's Interim CEO, Brian Carter, stated: "Manicouagan is very excited about this new opportunity. Orbite Aluminae has been very successful in developing a very large resource which it believes will be a significant new economic source of alumina for the aluminum industry. Manicouagan intends to carryout an extensive exploration program over the next few months on this new property. This gives Manicouagan a third area of focus in addition to its four gold properties in the Pickle Lake greenstone belt in Ontario and its Brabant Lake zinc property in Saskatchewan on which Votorantim Metals Canada has commenced a 20 hole drill program."

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.

About Manicouagan

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 Qu�bec.

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 fran�aise de ce communiqu� de presse est disponible � www.manicouaganminerals.com

For further information contact:
W. Brian Carter, Interim Chief Executive Officer
briancarter@manicouaganminerals.com
(647) 234-1583

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.


Associated File: http://www.manicouaganminerals.com/i/pdf/2012/2012-02-07_NR.pdf
119 KB in size, approx. 23 seconds to download at 56.6Kbps

Copyright � 2012 MANICOUAGAN MINERALS INC. (MAM) All rights reserved. For more information visit our website at http://www.manicouaganminerals.com/ or send email to investorrelations@manicouaganminerals.com ..
Message sent on Thu Feb 9, 2012 at 8:18:42 AM Pacific Time
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Manicouagan Minerals Inc.

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Manicouagan Min. is a zinc and lead exploration company based in Canada.

Manicouagan Min. develops zinc, lead, copper, nickel, palladium and platinum in Canada, and holds various exploration projects in Canada.

Its main asset in development is MOUCHALAGANE in Canada and its main exploration properties are FORGUES, PICKLE LAKE, BRABANT LAKE ZINC and LAC MAUGUE in Canada.

Manicouagan Min. is listed in Canada. Its market capitalisation is CA$ 2.6 millions as of today (€ 2.5 millions).

Its stock quote reached its highest recent level on December 04, 2009 at CA$ 0.90, and its lowest recent point on December 14, 2012 at CA$ 0.02.

Manicouagan Min. has 37 710 000 shares outstanding.

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Financings of Manicouagan Minerals Inc.
5/8/2013and Flemish Gold Corp. Provide Update Regarding Proposed Bu...
6/4/2012ANNOUNCES PRIVATE PLACEMENT AND CORPORATE UPDATE
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Nominations of Manicouagan Minerals Inc.
7/11/2011Announces the Appointment of Brian Carter as Interim Chief E...
Project news of Manicouagan Minerals Inc.
2/4/2013REPORTS 23.28% Al2O3 and 468 PPM TREO OVER 76.1 METRES IN TH...
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1/30/2012(Brabant Lake Zinc)Announces Details of Votorantim's Upcoming Drill Program on ...
10/3/2011(Brabant Lake Zinc)Signs A Letter of Intent to Option Its Brabant Lake Zinc Pro...
9/13/2011(Pickle Lake)Provides an Exploration Update on Its Pickle Lake Gold Prope...
8/17/2011(Pickle Lake)Aug 15, 2011 Exploration Update
3/7/2011(Brabant Lake Zinc)Completes Airborne Geophysical Survey at Brabant Lake Zinc P...
11/18/2009(Pickle Lake)COMPLETES INITIAL DRILLING AT DOROTHY-DOBIE LAKE GOLD PROPER...
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10/14/2009(Pickle Lake)Reports filing of NI43-101 in Three Pickle lake
9/4/2008(Mouchalagane)Mouchalagane Drill Results
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7/29/2008(Brabant Lake Zinc)upgrades and expands Brabant Lake Resource
4/23/2008(Mouchalagane)COMPLETES AIRBORNE SURVEY
4/1/2008(Brabant Lake Zinc)REPORTS RESULTS FROM BRABANT LAKE DRILLING
2/21/2008(Mouchalagane)ADVANCES MOUCHALAGANE PROJECT
2/14/2008(Brabant Lake Zinc)BRABANT LAKE ZINC/COPPER DEPOSIT EXPLORATION UPDATE
1/29/2008(Mouchalagane)REPORTS SIGNIFICANT RHODIUM VALUES
1/15/2008(Brabant Lake Zinc)REPORTS RESULTS FROM BRABANT LAKE DRILLING
12/6/2007(Brabant Lake Zinc)REPORTS ADDITIONAL RESULTS FROM BRABANT LAKE
10/25/2007(Brabant Lake Zinc) REPORTS ADDITIONAL ENCOURAGING RESULTS FROM BRABANT LAKE
6/12/2007(Brabant Lake Zinc)Commences Phase II Diamond Drilling of the Branant Lake...
Corporate news of Manicouagan Minerals Inc.
7/30/2013and Flemish Gold Corp. Provide Update Regarding Proposed Bus...
1/17/2013AND FLEMISH GOLD CORP. ANNOUNCE PROPOSED BUSINESS COMBINATI...
9/16/2012Your Profile
6/8/2012ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT
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6/24/2011Reports Transfer of Shares and Acquisition of Warrants by In...
6/20/2011Completes Share Consolidation
6/9/2011Reports on the Annual and Special Meeting of Shareholders He...
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4/13/2011News Release
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10/1/2008Today's Press Release
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