Murgor announces a significant size increase of the Wim copper-gold deposit in Manitoba



    
    -  Current 43-101 compliant estimate: 2.06 million metric tons @ 1.92%
       Copper, 1.65 g/t Gold
    -  Additional new potential: 1.0 to 2.5 million metric tons(1) at 1.9 to
       2.3% Copper & 1.7 to 2.1 g/t Gold
    -  Deposit still open at depth and to the west
    -  Deposit in close proximity to infrastructure and HudBay concentrator
    -  New NI 43-101 compliant resource estimate of the Wim deposit planned
       for later this summer
    

    MONTREAL, June 18 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) today
announced that new drill results have identified extensions to the mineralized
lens that significantly increase the size of the Wim copper-gold deposit near
Snow Lake, Manitoba.
    On January 24th, 2008 and April 1st, 2008, Murgor revealed that its
diamond drilling program had extended the outline of the massive sulphide lens
of the Wim deposit by approximately 300 metres up-dip and more than 150 metres
on strike. The new assay results from 28 of the drill holes that define the
new extensions have substantially increased the potential copper-gold resource
at Wim.

    
    The new extensions of the mineralized sulphide lens have increased the
potential of the Wim deposit by:

    Million metric Tons  Copper Grade  Zinc Grade   Gold Grade   Silver Grade
    -------------------  ------------  ----------  ------------- ------------
         1.0 - 2.5        1.9 - 2.3%   0.3 - 0.4%  1.7 - 2.1 g/t   7 - 8 g/t
    

    "This is great news for Murgor. Should these extensions be substantiated
by a new 43-101 compliant resource estimate, it would represent a substantial
increase from the initial 43-101 compliant inferred resource of 2.06 million
metric tons at a grade of 1.92% copper and 1.65 g/t gold at Wim", said André
C. Tessier, President and CEO of Murgor Resources "As planned, Murgor has fast
tracked this project and submitted the data to Golder Associates, an
arms-length consultant, for a new 43-101 compliant resource estimate that will
take into account this additional potential resource. The deposit sits only 16
kilometres from HudBay's operating mill in Snow Lake, and within five
kilometres of a new Manitoba Hydro power line. The proximity of this
infrastructure has a very favourable impact on the potential economics of the
Wim project."
    The mineralization at Wim consists of massive to semi-massive pyrite and
pyrrhotite with chalcopyrite and local sphalerite. The sulphide mineralization
is coarse grained and typical of the Snow Lake mining district where
mineralization has historically provided excellent concentrator recoveries.
Metallurgical work on the Wim mineralization is now underway to confirm
recovery rates.
    The Wim deposit consists of a single sulphide lens with a strike length
of 725 metres and extending from surface to a vertical depth of 720 metres.
The mineralized lens is very tabular, with an average true thickness of 5.0
metres, and copper-gold grades that are quite consistent. The deposit is
largely open at depth and to the northwest (down-plunge). Additional drilling
in these areas may reveal new extensions to the known mineralization.
    The potential of the new extensions of the lens is based on twenty-nine
(29) holes, drilled at approximately 60 metres spacing. The assays and
specific gravity measurements were composited across hangingwall to footwall
contacts and weighted composites were determined. Drill collars were surveyed
by an independent registered land surveyor and down the hole deviation
measurements were made during drilling to ensure proper location of the
boreholes.
    Three dimensional wireframes were created, capturing the mineralized
composites, using Gemcom software. Considering the simple tabular geometry of
the sulphide lens and its consistent copper and gold grades, the conceptual
estimate was calculated by polygonal method, on a vertical longitudinal
section that was projected from the wireframe model, using true horizontal
widths of the mineralized intercept. The conceptual estimate includes only
horizontal widths greater than two (2) metres and excludes copper, zinc, gold
and silver values outside the interpreted sulphide lens. The estimate also
excludes dilution and recovery.
    A longitudinal section of the Wim deposit and all assay results from
2007-2008, will be attached to this press release on the Murgor website at
www.murgor.com. The longitudinal section will also show the portion of the
deposit with NI 43-101 compliant inferred resource and the portion which
includes the currently described conceptual resource.

    
    About the Wim deposit:

    In March of 2007, Murgor completed a NI 43-101 compliant resource estimate
at Wim. The estimation increased the resource by nearly 10% for copper and
more than 40% for gold, relative to the historical resource. A new NI 43-101
resource estimate is planned for the summer of 2008. The current 43-101
Inferred resource at Wim (shown below), does not include the new extensions
defined by Murgor in 2007-08 and described herein (please see SEDAR for the
full report of the existing 43-101 compliant estimate):

    ----------------------------------------------------------------
    CUT-OFF              TONNAGE                 GRADE
    GRADE(*)        (Metric Tons)    Cu     Zn      Au        Ag
    ----------------------------------------------------------------
    2% Cu Equiv(xx)    2,062,000   1.92%  0.26%  1.65 g/t  5.58 g/t
    ----------------------------------------------------------------

    ---------------------------------------------
                   CONTAINED METAL
      Cu (lbs)     Zn (lbs)    Au (oz)   Ag (oz)
    ---------------------------------------------
     87,333,000   11,943,000   110,000   370,000
    ---------------------------------------------
    (*)Copper equivalent grade. (xx)Copper equivalencies based on the
    following price of metals: Copper (Cu) = USD$1.10 per pound,
    Zinc (Zn) = USD$0.60 per pound, Gold (Au) = USD
    $475.00 per troy ounce, and Silver (Ag) = USD$6.00 per troy
    ounce.
    

    In 2007 and 2008, Murgor completed over 61 drill holes totaling 18,271
metres to better define the mineralized lens and to explore the Wim property.
    The Wim property covers approximately 28 square kilometres, located 16
kilometres north of the Town of Snow Lake where HudBay Minerals currently
operates a mill for its Chisel North Mine. The part of the property optioned
from HudBay, covers approximately 12 square kilometres but Murgor also holds a
100% interest in nine claims (not part of the HudBay option) covering the
strike extensions of the Wim deposit with an additional area of 16 square
kilometres.
    Murgor is earning a 100% interest in the Wim property, optioned from
HudBay Minerals Inc. (HBM: TSX) in September of 2006, along with the Hudvam,
Wim, Abbott Lake and Tyr deposits. HudBay has the right to buyback up to 65%
of the Wim property.

    About Murgor Resources Inc.

    Murgor Resources Inc. is a mineral exploration company with a focus on
copper, gold and zinc exploration in Canada. In late 2006, Murgor signed six
agreements with HudBay Minerals, acquiring the right to earn a 100% interest
in three deposits with a total NI 43-101 Inferred resource of: 8,666,000 tons
of mineralization, containing 143,150,000 pounds of copper, 430,251,000 pounds
of zinc, 221,000 ounces of gold and 2,526,000 ounces of silver. Murgor has
also acquired from HudBay Minerals, a 50% interest in two highly prospective
grassroots properties, covering more than 1,850 square kilometres adjacent to
the Snow Lake and Flin Flon mining districts. The exploration target for
Murgor consists of deposits in one of the most prolific greenstone belts in
Canada and the world. Murgor also benefits from its association with HudBay
Minerals, one of Canada's most successful mining companies.

    Murgor's Exploration Procedures

    Exploration core drilled by Murgor is NQ sized whereas historical drill
core was a combination of AX, BQ and NQ size. Historical drill core was logged
and sampled by geologists employed by HudBay Minerals' subsidiary, Hudson Bay
Exploration and Development Company Limited (HBED). Murgor drill core was
logged and sampled by its own geologists with P.Geo qualifications or under
the supervision of a P.Geo qualified geologist. Mineralized sections of the
core were marked for sampling and assaying by qualified geologists. The marked
core samples and intervals were cut in half with a diamond saw and one half of
the core was placed in plastic sample bags and tagged with unique sample
numbers. The sample bags were then sent for assaying and specific gravity
measurement whereas the remaining half of the core was carefully replaced into
the core box and is kept in storage by Murgor.
    Chemical analyses and specific gravity measurements were performed by TSL
Laboratories in Saskatoon using industry-recognized methodology. Base metals
were analyzed through atomic absorption spectrometry after a multi acid
digestion whereas gold was analyzed by fire assay Atomic Absorption using a
30g charge, with gravimetric finish for assays greater than 3 g/t. Sampling
and analytical procedures are subject to a comprehensive Quality Assurance and
Quality Control program that includes the use of assay sample standards,
blanks, duplicate and repeat samples.
    The data herein and the content of this press release have been verified
by Neil W. Richardson P.Geo. and Dr. Jean-Philippe Desrochers, P.Geo.
respectively Manager of Exploration and Vice-President of Exploration for
Murgor Resources Inc. both Qualified Persons, as defined by National
Instrument 43-101. Andre C. Tessier, P.Geo. (On), P.Eng. (Qc) and President
CEO of Murgor Resources is the Qualified Person responsible for this news
release.

    
    (1) The estimated potential quantities and grades reported herein for the
    extensions of the Wim deposit are conceptual in nature since they have
    been calculated internally and are therefore not compliant to National
    Instrument 43-101. The basis upon which the disclosed potential
    quantities and grades have been determined is however, provided in this
    news release. There has been insufficient exploration to define the full
    mineral resource of the Wim deposit so far and it is uncertain if further
    exploration will result in additional resources being delineated at the
    Wim deposit other than the existing 43-101 compliant inferred resource on
    part of the deposit, as stated in this press release.
    

    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.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this press release.





For further information:

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; Or Michael Joyner, Investor
Relations - The Equicom Group, Tel: (416) 815-0700 ext. 275 or 1-800-385-5451,
E-mail: mjoyner@equicomgroup.com

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