Manicouagan Options Key Ground at Brabant Lake, Saskatchewan
September 22 2011 - 11:20AM
Marketwired
Manicouagan Minerals Inc. (TSX VENTURE: MAM) is pleased to announce
that it has entered into an option agreement with the owners of
Mining Claim MCSA-003 to earn a 100% interest based on a $10,000
payment on receipt of the signed claim transfer followed by
payments totalling $65,000 and the issuance of 65,000 shares of
Manicouagan Minerals Inc. over a three year period. The option
agreement provides the optionors with a 2% NSR, which Manicouagan
has the option of acquiring 50% of for $300,000.
The mining claim being acquired is contiguous with Manicouagan's
Mining Lease which hosts the Brabant Lake Zinc deposit.
With this acquisition, Manicouagan will control 100% of 16 kms
of the favourable horizon which hosts the Brabant Lake Deposit. In
2011, a 560 line-km airborne VTEM PLUS survey was completed on the
ground. The geophysical interpretation of the data identified
numerous targets for follow-up drilling.
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.
Qualified Person
Exploration programs on Manicouagan's Brabant Lake Property are
carried out under the supervision of Mr. Bruce W. Mackie, P. Geo.
Mr. Mackie, a professional geologist, 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.
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 Quebec.
Additional information about Manicouagan and its exploration
projects can be found at www.manicouaganminerals.com.
Une traduction francaise de ce communique de presse est
disponible a www.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.
Contacts: Manicouagan Minerals Inc. W. Brian Carter Interim
Chief Executive Officer (416) 542-3980
briancarter@manicouaganminerals.com Manicouagan Minerals Inc.
investorrelations@manicouaganminerals.com
www.manicouaganminerals.com
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