MURGOR RECEIVES FINAL APPROVAL FROM TSX-V FOR ITS OPTION AGREEMENT TO ACQUIRE UP TO 70% INTEREST IN THE GOLDEN ARROW GOLD MINE.

- Murgor files NI 43-101 Technical Report on SEDAR

KINGSTON, ON, April 5 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) announced today that it has received final approval from the TSX Venture exchange for its option agreement with Victoria Gold Mines East Timmins Limited (as previously announced on February 7th, 2010) to acquire an interest of up to 70% in the Golden Arrow Gold Mine, 65 kilometres east of Timmins, Ontario.

As announced in a press release dated February 7th, 2011, Murgor and Victoria finalized an option agreement whereby Murgor can earn an interest of up to 70% in the Golden Arrow Gold Mine property.  The option agreement, signed on February 4th, 2011, had received conditional approval from the TSX Venture Exchange, pending, among other things, the filing by Murgor of a Technical Report on the property comprising the Golden Arrow Gold Mine which is compliant with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Murgor's new National Instrument 43-101-compliant Technical Report will now be filed with the TSX Venture Exchange and can be viewed on SEDAR or on Murgor's website at www.murgor.com. The Technical Report was written by J. Lavigne, M.Sc., P.Geo., an independent Qualified Person as defined by National Instrument 43-101.

Murgor has been drilling at the Golden Arrow property since February 22, 2011 and intends to start releasing results as they become available.  Initial results are anticipated later this week.

About the Golden Arrow Gold Mine:

The Golden Arrow property consists of 17 mining patents and leases, and four mining claims covering 713 hectares in Hislop Township and located 65 kilometers east of the Town of Timmins in Ontario.  In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 g/t) from the Arrow open pit.  Mining ceased due to low gold prices.

The property was originally explored underground in the 1940s to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435ft (130m) below surface and undertook about 700m of horizontal development on the 250ft (76m) and 400ft (122m) levels.

The Golden Arrow property is underlain by mafic flows and syenite Intrusions with younger post mineral diabase dike. Gold is associated with pyrite-quartz veining and hematitic/potassic alteration associated with a quartz vein stockwork within a syenite intrusion and related to a NE-SW structure associated with the Porcupine-Destor Fault Zone.  The property covers a two kilometre strike extent of this NE-SW structure.  The Golden Arrow gold deposit is located 9 kilometres SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989.  Also located in Hislop Twp are the presently producing Hislop Mine of St. Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp.  Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development company focused on near-term production at the Golden Arrow Gold Mine in Ontario.  Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba.  The company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Québec.

The table below shows the total 43-101 compliant resource for Murgor's Hudvam and Wim deposits.


INDICATED RESOURCE
Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)

Hudvam

854,076

1.22

1.78

3.82

13.84

23,007,640

33,541,359

104,930

379,928

Wim

2,776,787

1.94

0.3

1.88

7.53

118,762,524

18,365,339

167,838

672,246

TOTAL

3,630,863

 

 

 

 

141,770,164

51,906,698

272,768

1,052,174

 

 

 

 

 

 

 

 

 

 

 

INFERRED RESOURCE
Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)

Hudvam

502,901

0.79

1.33

3.25

6.96

8,758,802

14,745,831

52,548

112,534

Wim

445,999

1.12

0.43

2.11

5.06

11,012,528

4,228,024

30,256

72,556

TOTAL

948,900

 

 

 

 

19,771,330

18,973,856

82,804

185,090

* Based on a 2.0% copper equivalent cut-off grade

For statement of resources, see Murgor Press Releases:  Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

The technical information in this news release has been reviewed by Mr. André Tessier, P.Geo, a Qualified Person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, responsible for the supervision of the project.

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 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.

For further information:

PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:

André 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

Profil de l'entreprise

Murgor Resources Inc.

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