MURGOR RESOURCES STARTS
EXPLORATION WORK ON ITS RED LAKE GOLD PROPERTIES
KINGSTON, ON, Jan. 14 - Murgor Resources Inc. (MGR: TSX-V) announces the start of its
exploration program on the Gullrock and Premiere gold properties near Red Lake,
Ontario.
Murgor is starting a high resolution helicopter borne magnetic and
EM survey of the properties this week, in an effort to outline the extensions
of know gold-bearing structures on the properties. At the Gullrock Gold
property, the survey is meant to pinpoint the location of the "Mine
Trend"; a NW-SE trending structure which hosts the the Campbell-Red Lake, Cochenour-Willans
and the MacKenzie Gold Mines where more than 20 million ounces of gold
have been mined to date. The Campbell-Red Lake Mine is located 12 kilometers on
strike of the property. At the Premiere Gold property, the survey is
carried-out in an effort to identify southern extensions and potential
intersection of the structures which hosts the past producing Hudson-Patricia
gold mine and the Patricia-Dent gold occurrences.
Follow-up work in 2010 will include, line-cutting and surface
Induced Polarization geophysical surveys to identified mineralized sectors
within these prospective structures.
Murgor will provide updates of the exploration results as they
become available.
In other news: The company also wishes to announce that Mr.
Mark Eaton has resigned from Murgor's Board of Directors to pursue other
opportunities in the financial sector that may lead to future conflicts with
his mandate as a Director of Murgor.
On behalf of the Board of Directors, I wish to extend my
sincere thanks to Mr. Eaton for his services to Murgor since 2008, said
Tessier, we wish Mr. Eaton all the best in his future endeavours and will
always consider him a supporter of the Company.
About the Gullrock and Premiere properties:
The Gullrock Property consists of eight claims located one kilometer
east of Goldcorp's Red Lake property and on strike with the Campbell-Red Lake
Gold Mine. The property covers 1,409 hectares of what is known as "the
Mine Trend" south-east of Red Lake. The "Mine Trend" hosts the
Campbell-Red Lake, Cochenour-Willans and the MacKenzie Gold Mines where more
than 20 million ounces of gold have been mined to date. Reserves stand at 3.6
million gold ounces at the Campbell-Red Lake Mine (Goldcorp's annual report
2008). Despite the fact that the Gullrock property geology bears similar
geology as the Campbell-Red Lake Mine setting, the property has seen very
limited exploration work and its exploration potential is deemed excellent.
Murgor has already identified untested coincident geophysical and gold in soil
geochemical anomalies at the property.
The Premiere Property is located in the Uchi Belt and consists of
three mining claims covering 524 hectares. The property is located immediately
south of the Hudson-Patricia mine which produced 1900 ounces of gold with an
average grade of 0.165 oz/ton. The property covers the Rouillard and the
Particia-Dent exploration shafts. At both localities, gold is hosted by quartz
veins ranging in width from 40 cm to 1.0 meter wide grades of up to 0.64 ounces
per ton. During due diligence work, Murgor geologists collected three grab
samples that returned assays of 128.5 g/t, 116.2 g/t and 9.0 g/t gold.
The Premiere Property has seen very limited exploration work and is deemed as
having great exploration potential.
Andr� C. Tessier, P.Eng (Qc), P.Geo and President of Murgor
Resources, is a Qualified Persons, as defined by NI-43-101 and is responsible
for this news release and the technical information it contains.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development
company focused on copper, zinc and gold deposits. The company is earning a
100% interest in three deposits, adjacent to the Snow Lake and Flin Flon mining
districts of Manitoba, from HudBay Minerals Inc. (TSX:HBM). Murgor is also exploring
an exceptional portfolio of gold properties in proven mining districts of
Canada, owns a 1% NSR royalty in the Barry Gold Mine and an interest in the
advanced Windfall Gold Project in Quebec..
Andre C. Tessier,
President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
E-mail: info@murgor.com Web site:
www.murgor.com
Location of the Gullrock Gold Property, Red Lake, Ontario
This news release
includes certain "forward-looking statements". All statements other
than statements of historical fact, included in this release, including,
without limitation, statements regarding the proposed financing, payments to
HudBay, potential mineralization, resources and reserves, exploration results,
and future plans and objectives of Murgor, 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 Murgor's expectations
are exploration risks detailed herein and from time to time in the filings made
by Murgor with securities regulators.
Neither TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy
or accuracy of this release.
