Murgor completes work commitments to earn a 100% interest in the Hudvam and Wim copper-gold projects in Northern Manitoba

    MONTREAL, Feb. 26 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) announces
that it has completed the work commitments required to earn a 100% interest at
the Hudvam and Wim properties in northern Manitoba. As planned, Murgor has
accelerated its exploration and development work and is currently at the
pre-feasibility stage at both projects. A feasibility study at Hudvam should
be completed near the end of 2008 and at Wim by mid-2009.
    Andre C. Tessier, President and CEO of Murgor Resources says: "Murgor is
staying the course and is on track to fulfill its objective of production in
2009. We are currently drilling at Wim and Hudvam with a total of five drill
rigs. Definition drilling is nearly completed at Hudvam and on the upper part
of the Wim deposit. Metallurgical holes are completed on both deposits and
geotechnical drill holes should be completed in the next week. Exploration
drilling is scheduled to start in early March at the Wim, Hudvam, Fon, Tyr,
Flin-D and Snow-H properties, and at Murgor's 100% owned properties in
Manitoba and Saskatchewan."
    The Hudvam deposit is located 47 kilometers east of the Town of Flin
Flon, whereas the Wim Deposit is located approximately 16 kilometers north of
the Town of Snow Lake, in Manitoba. HudBay Minerals Inc. (HBM: TSX) operates
concentrators in both Flin Flon and Snow Lake.
    The Hudvam and Wim deposits were optioned by Murgor Resources from HudBay
in September of 2006 along with the Fon, Abbott Lake and Tyr deposits. Murgor
is earning a 100% interest in four properties (5,368 hectares) that include
these five copper, gold, zinc and silver deposits. HudBay retains a buyback
right of up to 65% on the resources. Murgor is also earning a 50% interest in
two large-scale grassroots projects covering 186,104 hectares of extremely
prospective ground. All properties and projects are located in the Flin-Flon
greenstone belt of Manitoba and Saskatchewan where Murgor is carrying out an
extensive exploration and development program.
    Murgor's short to mid-term objective is to complete a feasibility study
on the Hudvam and Wim deposits, respectively by the end of 2008 and by the
third quarter of 2009, while continuing to improve the resource at the Fon
deposit and exploring grassroots properties of the Flin Flon belt to increase
its resources. Murgor is currently drilling at the Wim deposit, north of the
Town of Snow Lake, Manitoba and is expecting preliminary results within two

    NI 43-101 compliant resource estimates are as follows (see SEDAR for
complete studies):

    DEPOSIT            TONNAGE                          GRADE
                        (Tons)           Cu         Zn         Au         Ag
    WIM(*)           2,273,000        1.92%      0.26%   1.65 g/t   5.58 g/t
    HUDVAM(*)        1,315,000        1.17%      1.71%   2.94 g/t  10.49 g/t
    FON(*)(*)        5,078,000        0.25%      3.73%          -  10.88 g/t
    TOTAL(*)(*)(*)   8,666,000

    DEPOSIT                          CONTAINED METAL
                      Cu (lbs)     Zn (lbs)    Au (oz)    Ag (oz)
    WIM(*)          87,333,000   11,943,000    110,000    370,000
    HUDVAM(*)       30,778,000   44,720,000    111,000    403,000
    FON(*)(*)       25,039,000  373,588,000          -  1,753,000
    TOTAL(*)(*)(*) 143,150,000  430,251,000    221,000  2,526,000

    (*)       Based on 2% Copper equivalent cut-off grade. Base case
              Inferred Resource estimate based on assumed underground mining
    (*)(*)    Based on 1% Zinc cut-off grade.
    (*)(*)(*) All figures rounded to nearest 1,000 and all resources are

    Neil W. Richardson P.Geo. and Jean-Philippe Desrochers, P.Geo.
respectively Manager of Central Canada Exploration and Vice-President
Exploration for Murgor Resources Inc. are Qualified Person 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.

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

For further information:

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:, Web site:; or Michael Joyner, Investor
Relations, THE EQUICOM GROUP, Tel: (416) 815-0700 ext 275, Email:

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