Murgor Resources announces rights offering for units

    - Rights Can be Exercised at $0.60 until March 3, 2008
    - Rights to Trade on TSX Venture Exchange Under Symbol "MGR.RT"


    MONTREAL, Jan. 30 /CNW Telbec/ - Murgor Resources Inc. (TSX-V: MGR)
announces that it is conducting a rights offering to its shareholders in a
maximum amount of approximately $1.7 million. Each Murgor shareholder of
record at the close of business on February 8, 2008 will receive one right for
each common share held. Every eight rights will entitle the holder to acquire
one unit of Murgor at a price of $0.60 until 5:00 p.m. (Montreal time) on
March 3, 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
acquire one additional common share of Murgor at a price of $1.00 until
March 3, 2009. In the event that the closing price of Murgor's shares on the
TSX Venture Exchange is $1.20 or more for a period of 20 consecutive trading
days, Murgor will have the right to accelerate the expiry date of the warrants
to a date that is at least 30 days after the date of a notice to that effect
from Murgor to the holders of warrants.
    Murgor's rights offering circular will be available under Murgor's
company profile on SEDAR at
    If the rights offering is fully subscribed, Murgor will issue
approximately 2,837,135 units, for gross proceeds to Murgor of approximately
$1.7 million. If all of the warrants are exercised, the additional proceeds to
Murgor will be approximately $2.8 million, for total proceeds from the rights
offering of $4.5 million.
    The TSX Venture Exchange has conditionally approved the listing of the
rights and the common shares issuable upon the exercise of the rights and
warrants. The rights will start trading on the TSX Venture Exchange on
February 6, 2008 under the trading symbol "MGR.RT", and will remain listed and
posted for trading until noon (Montreal time) on March 3, 2008.
    Murgor intends to use the net proceeds from the rights offering for
exploration on its properties in Manitoba and for working capital. If warrants
are exercised, the proceeds will be used for the same purposes.
    In connection with the rights offering, Murgor has entered into a Standby
Purchase Agreement with Mr. Alexander Gary Notar, under which Mr. Notar has
agreed, subject to certain terms and conditions, to purchase units in the
amount of $150,000, to the extent that units are available following the
closing of the rights offering.
    Rights certificates will not be issued or delivered to shareholders who
are resident of jurisdictions outside of Canada.
    There are currently 22,697,080 common shares issued and outstanding. If
the rights offering is fully subscribed, there will be 25,534,215 common
shares of Murgor issued and outstanding, and if all warrants are exercised,
28,371,350 common shares issued and outstanding.

    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: on Murgor, please visit our website at or contact: André C. Tessier, President & CEO, MURGOR RESOURCES
INC., (613) 546-7503, 1-888-891-3330, Fax: (613) 546-7318,;

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