Murgor resources announces the closing of a $399,800 private placement and starts a new phase of exploration at its Windfall Gold Property in Quebec



    MGR: TSX-V

    KINGSTON, ON, June 29 /CNW Telbec/ - Murgor Resources Inc. (TSX-V: MGR)
announces that it has completed a private placement by issuing an aggregate
4,442,222 units at a price of $0.09 to SIDEX Limited Partnership, La Société
de Développement de la Baie-James and to two "accredited investors" in Canada
and elsewhere, for an aggregate gross proceeds to Murgor of $399,800.
    Each share is accompanied by one common share purchase warrant. Each
warrant entitles its holder to purchase one additional Murgor share at a price
of a price of $0.11 per share for a period of twelve months from the date of
issuance, and thereafter at a price of $0.13 per share for a period of
twenty-four months from the date of issuance. No finder's fee or commission
has been paid in connection with this private placement.
    The proceeds from the private placement will be used for exploration on
Murgor's gold properties in Québec and for working capital purposes.
    As a result of the private placement, there are 45,582,782 common shares
of Murgor issued and outstanding. Under applicable securities legislation and
the policies of the TSX Venture Exchange, the securities issued at the closing
of the private placement are subject to a four month hold period.

    Windfall Property Exploration

    Murgor is starting a new exploration phase at its Windfall Gold Property
this week. Murgor and equal joint venture partner Freewest Resources Canada
Inc. (TSX.V : FWR) are planning extensive mechanical trenching followed by a
drilling program of up to 3,000 meters in the next four months. Murgor is
focussing its exploration efforts on gold-bearing NE-trending structures that
remain largely unexplored. The targets include the strike extensions of an
intersection of 1,327.9 g/t (42.8 ounces) Gold over 4.80 meters approximately
200 meters south of the Windfall property boundary.

    About SIDEX Limited Partnership (Diversification of Exploration
    Investment Partnership)

    SIDEX was established by the Government of Quebec and the Solidarity Fund
QFL. The mission of SIDEX is to invest in companies engaged in mineral
exploration in Quebec in order to diversify Quebec's mineral base, encourage
new exploration models, stimulate investment for new commodities in existing
districts and open new territories with high potential for discovery.

    About Société de Développement de la Baie-James

    The SDBJ is a Québec crown corporation recognized for developing the
economic potential of the James Bay territory in compliance with the
principles of sustainable development. In the mining sector, the SDBJ is
contributing to the renewal of mineral resources and the sustainability of the
mining industry by working to increase total investment in mineral exploration
in the territory.

    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.

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

    -------------------------------------------------------------------------
                                 Tonnage                Grade(*)
                 Project    -------------------------------------------------
                             Metric Tonnes    Cu%     Zn%   Au g/t   Ag g/t
    INDICATED ---------------------------------------------------------------
    RE

SOURCE --------------------------------------------------------------- Hudvam 854,076 1.22 1.78 3.82 13.84 --------------------------------------------------------------- Wim 2,776,787 1.94 0.3 1.88 7.53 --------------------------------------------------------------- --------------------------------------------------------------- TOTAL 3,630,863 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Metal Content Project ------------------------------------------------- Cu (lb) Zn (lb) Au (oz) Ag (oz) INDICATED --------------------------------------------------------------- RE

SOURCE --------------------------------------------------------------- Hudvam 23,007,640 33,541,359 104,930 379,928 --------------------------------------------------------------- Wim 118,762,524 18,365,339 167,838 672,246 --------------------------------------------------------------- --------------------------------------------------------------- TOTAL 141,770,164 51,906,698 272,768 1,052,174 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Tonnage Grade(*) Project ------------------------------------------------- Metric Tonnes Cu% Zn% Au g/t Ag g/t INDICATED --------------------------------------------------------------- RE

SOURCE --------------------------------------------------------------- Hudvam 502,901 0.79 1.33 3.25 6.96 --------------------------------------------------------------- Wim 445,999 1.12 0.43 2.11 5.06 --------------------------------------------------------------- Fon 4,543,126 0.25 3.73 - 10.88 --------------------------------------------------------------- --------------------------------------------------------------- TOTAL 5,492,026 ------------------------------------------------------------------------- ------------------------------------------------------------------------- Metal Content Project ------------------------------------------------- Cu (lb) Zn (lb) Au (oz) Ag (oz) INDICATED --------------------------------------------------------------- RE

SOURCE --------------------------------------------------------------- Hudvam 8,758,802 14,745,831 52,548 112,534 --------------------------------------------------------------- Wim 11,012,528 4,228,024 30,256 72,556 --------------------------------------------------------------- Fon 25,039,440 373,588,445 - 1,752,761 --------------------------------------------------------------- --------------------------------------------------------------- TOTAL 44,810,770 392,562,301 82,804 1,937,851 ------------------------------------------------------------------------- (*) Based on a 2.0% copper equivalent cut-off grade at Wim and Hudvam, and a 1.0% Zn cut-off grade at Fon For statement of resources, see Murgor Press Releases: Feb. 20, 2007 for Fon; Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim. Andre C. Tessier, P.Geo., P.Eng. and President & CEO for Murgor Resources Inc. is a Qualified Person as defined by NI-43-101 and is responsible for the technical information presented 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. 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:

For further information: please visit Murgor's website at www.murgor.com
or: André C. Tessier, President & CEO, MURGOR RESOURCES INC., (613) 546-7503
or 1-888-891-3330, info@murgor.com; www.murgor.com

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