Manicouagan to Commence Drilling at Kasagiminnis Lake-Part of Its Pickle Lake Gold Project

Manicouagan Minerals Inc. (TSX VENTURE:MAM) announced today that it will
commence its initial 2011 drilling program, on the Kasagiminnis Lake Property,
located approximately 25 kilometres southwest of the past producing Dona Lake
Mine, south of Pickle Lake, Ontario. 


Drilling is scheduled to commence later this month, assuming favourable weather
conditions. This initial 1000 metre drilling program will focus on testing the
continuity and on the expansion, of a portion of the gold bearing zone
associated with a sulphide bearing iron formation, previously outlined by Moss
Resources and Power Exploration Inc.


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). 


In 2010, Manicouagan established a grid over the known gold zones on the
Kasagiminnis Lake Property to act as control for ground geological, geophysical,
and geochemical surveys. The grid covered nearby magnetic anomalies which are
also believed to be caused by iron formations. Soil sampling was successful in
identifying the historic gold zone but also identified a new 400 metre long
anomaly located approximately 700 metres to the southwest (see MAM Press Release
dated August 24, 2010). Subsequent to the soil survey, a ground Horizontal Loop
Electromagnetic Survey ("HLEM") was completed, outlining four conductive zones
coincident with, or on the flanks of, the magnetic anomalies. One of the
conductive zones (K4) is coincident with the new gold in soil anomaly.


Joseph Baylis, Manicouagan's President and CEO, said, "This will be the first
drill program that we have undertaken on our Kasagiminnis Lake Property since
assembling our extensive land package in Pickle Lake. It is a key part of our
land package and a core part of our strategy to develop the potential of our
holdings. The assay results from this program will guide the planning of the
next phases of our 2011 work programs."


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,
Dorothy-Dobie Lake and Pickle Lake East properties. Pursuant to an agreement
with Trillium North Minerals, Manicouagan can increase its interest to 70
percent in these gold properties by incurring the next $1.5 million of
exploration expenditures on the 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 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.