Murgor starts drilling at Abbott Lake, Saskatchewan



    
    MGR: TSX-V
    

    KINGSTON, ON, Feb. 12 /CNW Telbec/ - Murgor Resources Inc. (MGR: TSX-V)
today announced it will start a drilling program at its Fon property in
Saskatchewan, on February 23rd, 2009. The drilling program will be testing a
target defined by a large electromagnetic geophysical anomaly detected from
surface by InfinitEM and confirmed by borehole Pulse EM method. The anomaly is
located less than 100 metres on strike and to the east of the Abbott Lake
deposit, at a vertical depth of 400 metres. This anomaly is interpreted as
having a strike extent of 600 metres and a vertical extent of up to 200
metres. It occurs down dip from a highly prospective mineralized felsic
fragmental rock unit, similar in character to felsic units present at the 777
mine. The Abbott Lake mineralization consists of sulphide stringers with
pyrite, chalcopyrite and sphalerite, grading on average 2.75% Cu, 1.10% Zn,
51.08 g/t Ag and 0.308 g/t Au. The stringer zone is believed to represent the
feeder zone to a deeper and yet to be discovered massive sulphide deposit
which constitutes the drill target.

    About the Fon Property:

    The Fon property is located in north-eastern Saskatchewan, approximately
40 kilometres west of the town of Flin Flon, Manitoba and two kilometres south
of Highway 106. Murgor is earning a 100% interest from HudBay Minerals, in
approximately 24 square kilometres of property where the Fon and Abbott Lake
deposits are located. To earn a 65% buyback on the property, HudBay must bring
the deposit into production and finance Murgor's share of development and
capital expenditures to production. An additional 14.4 square kilometre area
of the property is wholly owned by Murgor.
    The Fon deposit comprises multiple mineralized lenses occurring over a
strike length of 1.3 kilometres, a depth extent of at least 760 metres, and
where the current NI 43-101 compliant Inferred resource is as follows (see
SEDAR for complete study):

    
    -------------------------------------------------------------------------
    CUT-OFF       TONNAGE                                GRADE
     GRADE    (Metric Tonnes)
    -------------------------------------------------------------------------
     1% Zn       4,543,126                   3.73% Zn, 0.25% Cu, 10.88 g/t Ag
     3.5% Zn     1,677,377                   6.79% Zn, 0.27% Cu, 16.78 g/t Ag
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    CUT-OFF                           CONTAINED METAL
     GRADE
    -------------------------------------------------------------------------
     1% Zn           373,588,445 lb Zn,   25,039,440 lb Cu,   1,752,761 oz Ag
     3.5% Zn         227,787,797 lb Zn,    9,057,836 lb Cu,     905,784 oz Ag
    -------------------------------------------------------------------------
    

    In other news: Murgor's Board of Directors has amended Murgor's 2004
Stock Option Plan by increasing the number of shares that may be issued under
the Plan from 997,526 to 4,114,056, in light of the increased number of
Murgor's issued and outstanding shares since the establishment of the Plan.
Murgor has received all regulatory approvals for the amendment to the 2004
Stock Option Plan.
    The total number of shares that can be issued by Murgor under the 2004
Stock Option Plan, as amended, is equal to 10% of Murgor's 41,140,560 issued
and outstanding shares.
    Murgor's Board of Directors has also granted 2,576,005 stock options to
directors, officers and employees of the Corporation. The options were granted
under Murgor's 2004 Stock Option Plan. The exercise price of the options is
$0.10 per share, representing a 20% premium over the closing price of Murgor's
common shares on the TSX Venture Exchange on January 5, 2009. After the
aforementioned grant of options, the average exercise price of Murgor's
incentive stock options is at $0.30.
    Furthermore, the exercise price of the 40,000 options granted and
announced on January 9th, 2009 has been corrected to $0.10 instead of the
previously announced $0.08.

    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, 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.

    
        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 INFERRED --------------------------------------------------------------- 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) INFERRED --------------------------------------------------------------- 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. (Quebec) and Jean-Philippe Desrochers, P.Geo. respectively President & CEO and Vice-President Exploration for Murgor Resources Inc. are Qualified Persons as defined by NI-43-101 and are 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 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

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