Manicouagan Commences Phase II Drill Program at Kasagiminnis Lake

Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced that it has commenced a
follow up drill program on its Kasagiminnis Lake Property, located approximately
25 kilometres southwest of the past producing Dona Lake Mine, south of Pickle
Lake, Ontario. 


The Phase II, 1,000 metre, drilling program will focus on testing the down-dip
extension of the zone where Manicouagan's initial drilling on the property
returned encouraging results earlier this year (see MAM Press Release dated June
1, 2011). 


In the Phase I program nine holes (KAS-11-01 to 09) totalling 964 metres were
drilled to test a 250 metre interval along the 1,100 metre long gold bearing
zone outlined by previous operators in the mid to late 1980's. All of the
completed holes intersected the gold bearing horizon. Assay results included 6.6
g/t gold over 7.9 metres in hole KAS-11-04 and 4.55 g/t gold over 5.0 metres in
hole KAS-11-01.


Brian Carter, Manicouagan's Interim CEO, said, "This follow up program will test
the down depth extension of that portion of the Kasagiminnis Main gold zone
where our Phase I drill program returned extremely encouraging results. The Main
gold zone is underexplored and remains open below 150 metres."


The Kasagiminnis Lake Property hosts the Kasagiminnis Lake main gold zone that
is associated with what was described as a sulphide bearing iron formation.
Between 1985 and 1988, Moss Resources and Power Exploration Inc. drilled 25
holes on the zone. The property remained dormant until Manicouagan optioned the
property from Trillium North Minerals Ltd. in 2009 as part of a larger land
package which included the Dorothy-Dobie Lake and Pickle Lake East Properties
(see MAM Press Release dated April 16, 2009). 


Manicouagan holds directly, or under option, approximately 132 square kilometres
within the Pickle Lake Greenstone Belt consisting of 11 strategically located
properties. The Pickle Lake Greenstone Belt is part of the prolific Uchi
Geological Sub-province, which hosts the Pickle Lake, Red Lake and Rice Lake
gold camps. Manicouagan has earned a 51 percent interest in the Kasagiminnis
Lake, Dorothy-Dobie Lake and Pickle Lake East properties. Pursuant to an option
agreement with Trillium North Minerals, Manicouagan is currently increasing its
interest to 70 percent in these three gold properties (see MAM Press Release
dated April 15, 2010).


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