Murgor Increases Land Position at the Golden Arrow Project

KINGSTON, ON, Feb. 22, 2012 /CNW/ - Murgor Resources Inc. (MGR: TSX Venture Exchange) announced today that it has acquired a 100% interest in a key patented claim covering 160 acres contiguous to its Golden Arrow Mine property east of Timmins, Ontario.  Under the terms of the agreement, Murgor acquired both mining and surface rights to the property from a private individual for total cash considerations of $80,000.  The property is free and clear of any royalty.

Meanwhile, Murgor continues its third phase of drilling at the Golden Arrow property with two drill rigs in operation on-site.  The drilling program thus far has focused on drilling near the existing open pit area, successfully expanding upon the mineralized zones on strike and at depths of over 425 metres vertical. Just recently, Murgor initiated a property-scale exploration drilling program designed to test the Golden Arrow Fault and a number of parallel structures.  Murgor has now completed a total of just over 15,000 metres of drilling at the property since acquiring this past producing project in February 2011.  Murgor is currently awaiting assay results for twelve drill holes at the Golden Arrow Property.

About the Golden Arrow Gold Mine

The Golden Arrow property consists of 18 mining patents and leases, and four mining claims covering 787 hectares in Hislop and Playfair Townships located 65 kilometres east of the City of Timmins in Ontario.  In 1981 and 1982, a total of 303,449 tons of ore was mined at a grade of 0.066 oz/t (2.15 g/t) from the Arrow open pit.  Mining ceased due to low gold prices.

The property was originally explored underground in the 1940's to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435 ft (130 m) below surface and undertook about 700 m of horizontal development on the 250 ft (76 m) and 400 ft (122 m) levels.

The Golden Arrow property is underlain by mafic flows and syenite intrusions with younger post mineral diabase dikes. Gold mineralization is generally hosted within a syenite intrusion and consists of a stockwork of quartz veinlets situated within a broader halo of pink to brick-red potassic alteration.  Mineralized zones are related to a NE-SW structure associated with the Porcupine-Destor Fault Zone.  The property covers a two kilometre strike extent of this NE-SW structure.  The Golden Arrow gold deposit is located 9 km SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989.  Also located in Hislop Township are present-day producers, the Hislop Mine of St Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp.  Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development Company focused on near-term production at the Golden Arrow Gold Mine in Ontario.  Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba.  The Company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Québec.

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

INDICATED RESOURCE	Project	Tonnage	Grade*				Metal Content
		Metric Tonnes	Cu %	Zn%	Au g/t	Ag g/t	Cu (lb)	Zn (lb)	Au (oz)	Ag (oz)
	Hudvam	854,076	1.22	1.78	3.82	13.84	23,007,640	33,541,359	104,930	379,928
	Wim	2,776,787	1.94	0.3	1.88	7.53	118,762,524	18,365,339	167,838	672,246
	TOTAL	3,630,863					141,770,164	51,906,698	272,768	1,052,174
INFERRED RESOURCE	Project	Tonnage	Grade*				Metal Content
		Metric Tonnes	Cu %	Zn%	Au g/t	Ag g/t	Cu (lb)	Zn (lb)	Au (oz)	Ag (oz)
	Hudvam	502,901	0.79	1.33	3.25	6.96	8,758,802	14,745,831	52,548	112,534
	Wim	445,999	1.12	0.43	2.11	5.06	11,012,528	4,228,024	30,256	72,556
	TOTAL	948,900					19,771,330	18,973,856	82,804	185,090
	* Based on a 2.0% copper equivalent cut-off grade.

 For statement of resources, see Murgor News Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

André C. Tessier, P.Geo (On) and P.Eng (Qc) a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and President and CEO of Murgor Resources Inc. is responsible for the contents of 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.

 

PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:

André C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: [phone] or 1-888-891-3330
E-mail: [email protected]

Cathy Hume, CEO
CHF INVESTOR RELATIONS
Tel: [phone] ext 231
Email: [email protected]     

Jeremy Hill, Associate Account Manager
CHF INVESTOR RELATIONS
Tel: [phone] ext 238
Email: [email protected]