MAM

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE
SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES


Manicouagan Minerals Inc. (TSX VENTURE:MAM) ("Manicouagan" or the "Company") is
pleased to announce a proposed private placement for gross proceeds of $200,000
through the sale of 4,000,000 units (the "Units") at $0.05 per Unit. Each Unit
will consist of one common share and one common share purchase warrant. Each
common share purchase warrant will entitle the holder to acquire one common
share of Manicouagan for a period of 24 months from the date of closing of the
private placement at a price of $0.10 per share for the first 12 months and
$0.12 per share for the second 12 months. If the common shares of Manicouagan
trade at or above $0.18 per common share for 21 consecutive trading days, then
Manicouagan may accelerate the expiration of the share purchase warrants upon
not less than 30 days written request.


In connection with the private placement, Manicouagan has agreed to pay
Canaccord Financial Inc. a cash commission equal to 3% of the gross proceeds and
to issue finder's fee options for Units (the "Option Unit") equal to 8% of the
number of Units subscribed for, at the price of $0.05 per Option Unit, with each
Option Unit consisting of one common share and one common share purchase
warrant. Each such common share purchase warrant will entitle the holder to
acquire one common share of Manicouagan for a period of 24 months from the date
of closing of the private placement at a price of $0.10 per share for the first
12 months and $0.12 per share for the second 12 months. The Option Units will
have a term of 24 months.


All securities issued in the private placement will be subject to a four-month
hold period from their distribution date.


Completion of the private placement is subject to the receipt of all required
regulatory approvals, including final acceptance by the TSX Venture Exchange.


Manicouagan will use the net proceeds from the issuance of the Units for working
capital.


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, together with the Mouchalagane Nickel/Copper/PGE
project and the HPM/Forgues Nickel/Copper/Cobalt project, both in Quebec.


The securities being issued have not, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such securities may not be
offered or sold within the United States or to, or for the account or benefit
of, U.S. persons absent registration or an applicable exemption from U.S.
registration requirements.


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.

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