MAM

Manicouagan Minerals Inc. (TSX VENTURE: MAM) is pleased to report initial assay results from its Dorothy-Dobie Lake Property located in the Pickle Lake area, in northwest Ontario.

Manicouagan recently completed a sixteen hole (2,292 metre) diamond drilling program on its Dorothy-Dobie Lake Property. Seven holes (DOR-09-01 to 07) were drilled on the Dorothy Main Zone while nine holes (DOB-09-08 to 16) tested the Dobie Zone (see MAM Press Release dated November 18, 2009).

DOROTHY MAIN ZONE

The Dorothy Main Zone consists of a zone of quartz-tourmaline veining hosted by an altered and deformed diorite that has been traced by previous operators over a length of 700 metres and remains open at depth and along strike.

All seven holes drilled by MAM encountered a 2-4 metre wide (true width) zone, at a depth of 50-100 metres, of greater than 20% quartz-tourmaline veining within a sheared metadiorite (2-5% pyrite). This mineralization occurs within a broader zone (20-30 metres) of altered diorite (1-2% pyrite) containing about 5% quartz tourmaline veins and stockworks.

To date, complete assay results have been received from five of the seven holes drilled on the Dorothy Main Zone. A summary of the significant results received to date is given in the table below.

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                             Dorothy Main Zone
                    Summary of Significant Intersections
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      Hole         From (m)        To (m)       Length (m)       Au gpt
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   DOR-09-01         59.5           62.5           3.0            2.88
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   DOR-09-02         81.7           82.2           0.5            5.09
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   DOR-09-03   Assays pending
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   DOR-09-04                       no significant values
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   DOR-09-05         53.5           55.3           1.8            5.15
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   DOR-09-06         74.0           75.0           1.0            7.49
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   DOR-09-07   Assays pending
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Note: true widths are currently estimated at 60-85% of drilled widths

DOBIE ZONE

At the Dobie Zone gold mineralization is reported to be associated with sulphide (pyrite) mineralization within a 10-25 metre wide zone of silicification hosted within mafic volcanics. All nine holes drilled by Manicouagan encountered this favourable alteration package over a strike length of approximately 380 metres and to a depth of 150 metres.

To date, complete assay results have been received for only one of the nine holes - DOB-09-12 drilled on the Dobie Zone. Partial assay results have been received for holes DOB-09-10 and 13.

Diamond drill hole DOB-09-12 intersected 10.4 metres grading 1.86 gpt gold including 1.2 metres grading 4.92 gpt gold and 1.4 metres grading 4.62 gpt gold. Assay results received to date show that the favourable alteration package which hosts DOB-09-13 contains elevated gold values across its entire width of 46.4 metres (approximately 30 metres true width) averaging 0.73 gpt gold.

Significant results to date are given in the table below.

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                                 Dobie Zone
                    Summary of Significant Intersections
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      Hole         From (m)        To (m)       Length (m)       Au gpt
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   DOB-09-08   Assays pending
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   DOB-09-09   Assays pending
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 DOB-09-010(i)       92.7           95.4           2.7            5.65
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   DOB-09-011  Assays pending
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   DOB-09-012        35.0           45.4           10.4           1.86
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     Incl.           38.8           40.0           1.2            4.92
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      and            44.0           45.4           1.4            4.62
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 DOB-09-013(i)       49.0           66.6           17.6           1.31
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     Incl.           49.0           50.0           1.0            6.27
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      and            62.6           64.6           2.0            4.34
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   DOB-09-014  Assays pending
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   DOB-09-015  Assays pending
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   DOB-09-016  Assays pending
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Note: true widths are currently estimated at 60-85% of drilled widths

(i) only partial assays received to date

The Dorothy-Dobie Lake Property consists of a contiguous block of 19 staked claims totalling 31.72 square kilometres. The property ties onto the western boundary of the historical Golden Patricia Mine property (which produced 0.45 million ounces at 19.9 gpt gold) and extends for approximately 12 kilometres to the northwest covering the projected strike extension of the favourable gold bearing structure - the Golden Patricia Mine Trend.

Manicouagan can earn up to a 70 percent interest in the Dorothy-Dobie Lake, Kasagiminnis and Pickle Lake East properties pursuant to an option agreement with Trillium North. (See MAM Press Release dated April 16, 2009.)

Complete assay results for all of the drill holes completed are not expected to be available for another two to three weeks. Longitudinal sketches for the Dobie and Dorothy Main Zones are attached and are also available at www.manicouaganminerals.com.

To view figure 1 of the Main Zone, please visit the following link: http://media3.marketwire.com/docs/MAMMS.pdf

To view figure 2 of the Dobie Zone, please visit the following link: http://media3.marketwire.com/docs/MAMDZ.pdf

Manicouagan's President and CEO, Joseph Baylis stated, "The partial drill results received to date from this "first pass" drill program on the Dorothy-Dobie Property are encouraging. During 2009, we assembled a significant land package in the Pickle Lake area of 132.3 square kilometres in a proven, but underexplored gold mining camp that continues to offer the potential for new discoveries".

Pickle Lake East Property

In December 2009 Manicouagan completed an I.P. Resistivity Survey to identify prospective anomalies on the western portion of its Pickle Lake East Property where the Pickle Crow - Central Patricia Gold Mine trend crosses onto the property. Results are pending.

Sample Preparation, Analyses and Security

The assay and sample information as well as geological descriptions are taken from drill logs as prepared by the project geologists for the drill program. All drill cores are NQ in size and assays are completed on split or sawed half-cores, with the second half of the core kept for future reference. The samples are put into rice bags which are sealed with security locks for shipping directly to Accurassay Laboratories, an accredited assay laboratory, in Thunder Bay, Ontario. The samples are analysed using standard fire assay procedures with an AA/ICP finish. Assay results greater than 1.00 gram per tonne are rerun using a gravimetric finish. In addition to the standard quality control of the laboratory, a series of blanks and standards are inserted in every shipment for quality control purposes.

Qualified Person

Exploration programs on Manicouagan's Pickle Lake Gold Projects 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 HPM/Forgues Nickel/Copper/Cobalt project 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. Joseph Baylis President and Chief Executive Officer (416) 542-3980 investorrelations@manicouaganminerals.com