Murgor completes NI 43-101 resource estimate at the Hudvam deposit and increases its copper-gold-zinc resource



    MONTREAL, Aug. 28 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) today
announced the results of a new National Instrument 43-101 compliant resource
estimate on the Company's Hudvam polymetallic deposit in Manitoba.
    The new Hudvam resource estimate is based on a 2.0% copper equivalent
cut-off grade and is highlighted by a 40% increase in the gold resource and a
conversion of more than 70% of the resource to an Indicated category, relative
to Murgor's 2007 NI 43-101 resource estimate (February, 2007). Work was
carried-out by Golder Associates Ltd, an internationally recognized consultant
firm for Murgor.
    "The size and the quality of the resource at Hudvam, continues to grow,
thus confirming our geological interpretation and showing the tremendous
exploration potential of the property," said André Tessier, President and CEO
of Murgor Resources. Given the current price of copper and gold, and the
strong demand for copper concentrate, Murgor is now well-positioned to
capitalize on this opportunity."

    The newly estimated resource is as follows:

    
    INDICATED CATEGORY

    -----------------------------------------------------------------------
    CUT-OFF            TONNAGE                         GRADE
    GRADE(*)       (Metric Tonnes)       Cu        Zn        Au         Ag
    -----------------------------------------------------------------------
    2.0% Cu Equiv.      854,076       1.22%     1.78%  3.82 g/t  13.84 g/t
    2.5% Cu Equiv.      680,657       1.38%     1.98%  4.33 g/t  15.38 g/t
    -----------------------------------------------------------------------

    ---------------------------------------------
                   CONTAINED METAL(xx)
        Cu (lbs)    Zn (lbs)   Au (oz)   Ag (oz)
    ---------------------------------------------
      23,008,000  33,541,000   105,000   380,000
      20,640,000  29,654,000    95,000   337,000
    ---------------------------------------------
    (*)    Copper equivalent grade base on US$1.75 per lbs Copper, US$0.80
           per lbs Zn, US$700 per oz Au and US$10 per oz Ag.
    (xx)   Figures rounded to nearest 1,000.

    INFERRED CATEGORY

    -----------------------------------------------------------------------
    CUT-OFF            TONNAGE                         GRADE
    GRADE(*)       (Metric Tonnes)       Cu        Zn        Au         Ag
    -----------------------------------------------------------------------
    2.0% Cu Equiv.      502,901       0.79%     1.33%  3.25 g/t   6.96 g/t
    2.5% Cu Equiv.      338,557       0.85%     1.46%  3.96 g/t   7.36 g/t
    -----------------------------------------------------------------------

    ---------------------------------------------
                  CONTAINED METAL(xx)
       Cu (lbs)    Zn (lbs)   Au (oz)   Ag (oz)
    ---------------------------------------------
      8,759,000  14,746,000    53,000  113,000
      6,345,000  10,898,000    43,000   80,000
    ---------------------------------------------
    (*)    Copper equivalent grade base on US$1.75 per lbs Copper, US$0.80
           per lbs Zn, US$700 per oz Au and US$10 per oz Ag.
    (xx)   Figures rounded to nearest 1,000.
    

    This NI 43-101 compliant resource estimate at Hudvam takes into account
the 13,553 metres in 51 drill holes drilled on the property by Murgor in 2007
and 2008, in addition to the 115 historical drill holes on the deposit that
were validated by Murgor. The estimate does not, however, include Murgor's new
discovery of Hole 44 where 2.17 g/t Au, 1.11% Cu, 0.76% Zn and 13.30 g/t Ag
over 5.82 metres were intersected between Zones 1 and 3, and previously
disclosed on March 20th, 2008 (section is attached to this press release at
www.murgor.com). Murgor's near-term follow-up work at Hudvam will include a
drill program to better define the potential new lens intersected by hole 44,
between Zones 1 and 3 and to further test a new mineralized horizon in the
stratigraphic hangingwall of the current mineralization.
    Due to the polymetallic nature of the Hudvam deposit, cut off grades were
calculated in copper equivalencies based on the following price of metals:
Copper (Cu) = US$1.75 per pound, Zinc (Zn) = US$0.80 per pound, Gold (Au) =
US$700.00 per troy ounce, and Silver (Ag) = US$10.00 per troy ounce. These
prices may be considered conservative, considering the near-term commencement
of operations and 3-5 year mine life.
    Golder estimated the Hudvam resource using density weighted inverse
square distance interpolation method, using 557 measured density values and
3,933 calculated density values with a mean of 3.37 g/cm(3). Crown pillars for
both zones 1 and 3 may account for approximately 10% of the indicated
resource. Note: Mineral Resources are not mineral reserves and do not have
demonstrated economic viability.
    The Hudvam resource estimate update, reported in this press release was
directed by Greg Grenough, P.Geo. and Paul Palmer, P.Eng, of Golder Associates
Ltd; both are Qualified Person as defined by NI-43-101. The NI 43-101
technical report will be filed on SEDAR in its entirety within 45 days
following the date of this press release.

    About the Hudvam Deposit:

    The Hudvam deposit is located 47 kilometres north-east of the Town of
Flin Flon Manitoba, where HudBay Minerals Inc. operates a concentrator, a
copper smelter and a zinc plant. The deposit already has an access ramp,
nearly 250 metres long, that could be rehabilitated for quick development of
the deposit, with low capital expenditures.

    About Murgor Resources

    Murgor Resources Inc. is a mineral exploration and development company
focused on copper, zinc and gold deposits. Late in 2006, the company signed
agreements with HudBay Minerals (TSX:HBM), acquiring the right to earn a 100%
interest in three deposits. Prior to the 43-101 compliant resource estimate at
Hudvam, presented in this press release, the combined NI 43-101 compliant
Inferred resource for these three properties amounted to an aggregate of
7.8 million metric tonnes mineralization. The breakdown contained: 143.1
million pounds of copper, 430.2 million pounds of zinc, 221,000 ounces of gold
and 2.5 million ounces of silver (not including the new potential resource
outlined in 2007-2008 at the Wim deposit). Murgor also acquired from HudBay a
50% interest in two highly prospective grassroots properties, covering more
than 1,850 square kilometres adjacent to the Snow Lake and Flin Flon, Manitoba
mining districts. The exploration targets for Murgor consist of polymetallic
massive sulphide deposits in one of the most prolific greenstone belts in
Canada and the world.

    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 and CEO, MURGOR RESOURCES INC., Tel:
(613) 546-7503 or 1-888-891-3330, Fax: (613) 546-7318, E-mail:
info@murgor.com; Joanna Longo, Investor Relations - The Equicom Group, Tel:
(416) 815-0700 ext. 233 or 1-800-385-5451, Fax: (416) 815-0080, E-mail:
jlongo@equicomgroup.com

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