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) is pleased to announce a
non-brokered private placement for gross proceeds of $500,000.00 through the
sale of 10,000,000 flow-through units (the "FT Unit") at $0.05. Each FT Unit
will consist of one flow-through common share and one non flow-through common
share purchase warrant. Each warrant will entitle the holder to acquire one non
flow-through 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 warrants upon not
less than 30 days written request.


In connection with the private placement, Manicouagan has agreed to pay a cash
finder's fee equal to 3% of the gross proceeds and to issue finder's fee options
for units (the "Option Units") equal to 8% of the number of FT Units subscribed
for, at the price of $0.05 per Option Unit, with each Option Unit consisting of
one non flow-through common share and one non flow-through common share purchase
warrant. Each such warrant will entitle the holder to acquire one non
flow-through 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 finder's fee options
will have a term of 24 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 these warrants upon not less than 30 days
written request. 


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


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


The placees in the private placement are at arms-length with Manicouagan and its
management.


Manicouagan will use the funds for continued exploration on its Canadian
properties, more particularly, $350,000 on its Ontario exploration properties
and $150,000 in Saskatchewan.


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.


Une traduction francaise de ce communique de presse est disponible a
www.manicouaganminerals.com. 


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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