Murgor Resources announces closing of $1,450,000 "flow-through" private placement with MineralFields



    MONTREAL, Jan. 2 /CNW Telbec/ - Murgor Resources Inc. (TSX-V: MGR)
announces that it has completed a private placement by issuing
2,071,426 "flow-through" common shares to four limited partnerships associated
with MineralFields Group of Toronto, Ontario at a price of $0.70 per share,
for gross proceeds to Murgor of $1,450,000.
    In connection with the private placement, Murgor paid a finder's fee to
Limited Market Dealer Inc., consisting of 82,857 common shares and a
compensation option entitling Limited Market Dealer Inc. to purchase up to
165,714 units of Murgor, representing 8 % of the number of "flow-through"
common shares sold in the private placement. The compensation option is
exercisable at a price of $0.70 per unit until December 31, 2008. Each unit
will be comprised of one common share of Murgor and one common share purchase
warrant. Each warrant will entitle the holder to purchase one additional
common share of Murgor at a price of $1.40 until December 31, 2008, and
thereafter at a price of $2.10 per share until December 31, 2009.
    Murgor also paid Limited Market Dealer Inc. a due diligence fee of
$58,000 to Limited Market Dealer Inc.
    Under applicable securities legislation and policies of the TSX Venture
Exchange, the common shares and warrants issued in the private placement are
subject to a hold period expiring on May 1, 2008.
    Murgor will use the proceeds from the private placement to explore its
properties in Manitoba.
    As a result of the private placement, there are 22,617,293 common shares
of Murgor issued and outstanding.

    About MineralFields, Pathway and First Canadian Securities(R)

    MineralFields Group (a division of Pathway Asset Management) is a
Toronto-based mining fund with significant assets under administration that
offers its tax-advantaged super flow-through limited partnerships to investors
throughout Canada during most of the calendar year, as well as hard-dollar
resource limited partnerships to investors throughout the world. Pathway Asset
Management also specializes in the manufacturing and distribution of
structured products and mutual funds. Information about MineralFields Group is
available at www.mineralfields.com. First Canadian Securities(R), a division
of Limited Market Dealer Inc., is active in leading resource financings (both
flow-through and hard dollar) on competitive, effective and service-friendly
terms, with investors both within, and outside of MineralFields Group.

    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: André C. Tessier, President & CEO, Murgor
Resources Inc., 613) 546-7503, 1-888-891-3330, Fax: (613) 546-7318,
info@murgor.com, www.murgor.com

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Murgor Resources Inc.

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