Montreal, Quebec, April 22, 2008. Murgor Resources Inc.
(MGR: TSX-V) today released additional assay results from the Hudvam copper-gold-zinc-silver deposit in Manitoba. The results continue to highlight the presence of very high gold values that supplement the copper, zinc and silver values.
The assay results are as follows:
DDH HVS-08-41: 9.76 g/t Au, 0.74% Cu, 3.42% Zn, 18.91 g/t Ag over 22.47 metres.
Incl : 25.56 g/t Au, 1.24% Cu, 3.67% Zn, 35.97 g/t Ag over 7.00 metres.
DDH HVS-08-27: 7.07 g/t Au, 5.92% Cu, 1.65% Zn, 48.16 g/t Ag over 6.33 metres.
DDH HVS-08-29: 7.95 g/t Au, 2.38% Cu, 0.63% Zn, 22.51 g/t Ag over 3.04 metres.
DDH HVS-08-35: 5.55 g/t Au, 1.29% Cu, 2.07% Zn, 13.68 g/t Ag over 2.03 metres.
DDH HVS-08-43: 9.65 g/t Au, 2.72% Cu, 3.40% Zn, 28.29 g/t Ag over 2.95 metres.
“
These results demonstrate the success of Murgor’s current drilling campaign”, said André C. Tessier, President & CEO of Murgor Resources. “
The Hudvam deposit continues to yield high grade gold values along with significant copper and zinc values. These results represent an important component in the new 43-101 resource estimate expected in the next quarter”
In early April 2008, Murgor completed a 30 drill hole program totalling 9,322 metres at the Hudvam property. This press release supplements assay results previously released on March 11th, 2008. Results from drill holes HVS-08-44 to HVS-08-51 are expected within the next three weeks.
Murgor has now completed its definition, infill, metallurgical and geotechnical drilling at the deposit. Two exploration holes were also completed during this phase of drilling and preliminary results from the first of these drill holes (HVS-08-44) were released on March 20th, 2008.
In February 2007, Murgor completed a NI 43-101 compliant resource estimate at Hudvam. The resource estimation doubled the historical values for copper and zinc while the gold and silver content increased by more than 145%. The Hudvam 43-101 Inferred resource table below does NOT include the drilling completed by Murgor in 2007 and 2008 (for the full 43-101 report, please refer to SEDAR):
CUT-OFF TONNAGE GRADE CONTAINED METAL
GRADE* (Tons) Cu Zn Au Ag Cu (lbs) Zn (lbs) Au (oz) Ag (oz)
2% Cu Equiv** 1,315,000 1.17% 1.71% 2.94 g/t 10.49 g/t 30,778,000 44,720,000 111,000 403,000
*Copper equivalent grade. **Copper equivalencies based on the following price of metals: Copper (Cu) = USD$1.10 per pound, Zinc (Zn) = USD$0.60 per pound, Gold (Au) = USD$475.00 per troy ounce, and Silver (Ag) = USD$6.00 per troy ounce.
The mineralization at Hudvam consists of solid sulphide to sulphide breccia with variable amounts of gold bearing pyrite, pyrrhotite, chalcopyrite and sphalerite. The ore lenses trend NNE and dip steeply at 75-80 degrees towards the SE and would be amenable to long-hole mining. An existing 312 metre long ramp at the deposit could be rehabilitated quickly for development of the deposit.
Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon. Base metals were analyzed through atomic absorption spectrometry after a multi-acid digestion whereas gold was analyzed by fire assay Atomic Absorption using a 30g charge, with gravimetric finish for assays greater than 3 g/t. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
The Qualified Person in the field, as defined by NI-43-101, was Neil W. Richardson P.Geo. and Manager of Central Canada Exploration for Murgor Resources Inc. Andre C. Tessier, P.Geo. (On), P.Eng. (Qc) and President CEO of Murgor Resources is the Qualified Person responsible for this news release.
TABLE OF NEW RESULTS FROM THE HUDVAM DEPOSIT
A longitudinal section can be viewed, attached to the press release on Murgor’s website at
www.murgor.com.
About the Hudvam Deposit
The Hudvam property is located approximately 47 kilometres northeast of the Town of Flin Flon in Manitoba. Murgor is earning a 100% interest in the property from HudBay Minerals Inc.
(HBM: TSX). HudBay has a 65% buyback right on the property by making cash payments, exploration expenditures and by carrying Murgor into production.
About Murgor Resources Inc.
Murgor Resources Inc. is a mineral exploration company with a focus on zinc, copper and gold exploration in Canada. In late 2006, Murgor signed six agreements with HudBay Minerals, acquiring the right to earn a 100% interest in three deposits with a total NI 43-101 Inferred resource of:
8,666,000 tons of mineralization, containing 143,150,000 pounds of copper, 430,251,000 pounds of zinc, 221,000 ounces of gold and 2,526,000 ounces of silver. Murgor has also acquired from HudBay Minerals, a 50% interest in two highly prospective grassroots properties, covering more than 1,850 square kilometres adjacent to the Snow Lake and Flin Flon mining districts. The exploration target for Murgor consists of deposits in one of the most prolific greenstone belts in Canada and the world. Murgor also benefits from its association with HudBay Minerals, one of Canada’s most successful mining companies.
FOR FURTHER INFORMATION PLEASE VISIT MURGOR’S WEBSITE OR CONTACT:
André 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
Or
Michael Joyner
Investor Relations - The Equicom Group
Tel: (416) 815-1700 ext. 275 or 1-800-385-5451
E-mail:
mjoyner@equicomgroup.com
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.