Murgor Resources Resumes Drilling at Golden Arrow, East of Timmins and Aims for PEA in Early 2013

murgor.com | MGR : TSX-V

KINGSTON, ON, Nov. 13, 2012 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) has commenced a new drilling program at the Golden Arrow Gold project, located south of the Town of Matheson and 65 km east of Timmins, Ontario.  A total of 1500 metres in thirteen drill holes will be completed initially, aimed delineating additional gold ounces to the mineralized zone located immediately underneath the current open pit.  The objective being to add this new data to the current block model of the deposit in an effort to complete a Preliminary Economic Assessment ("PEA") of the deposit as it currently stands, by early 2013.

"Murgor believes there is outstanding potential to add a great many ounces to the gold resource at the Golden Arrow Deposit and that there are still discoveries to be made at the property-scale That being said, management feels strongly that it needs to investigate the economic potential of the small resource as it currently stands at Golden Arrow, to determine the possibility of generating a revenue stream for the Company.  Considering the current market conditions and the undervalued share price of junior explorers, we feel that Murgor, needs to seek ways of generating revenue in the least dilutive way possible.  The completion of a NI 43-101 resource estimate and PEA at Golden Arrow would be a preliminary step in that direction" said Andre Tessier, President and CEO of Murgor Resources.

The second phase of the drilling program will be aimed at testing new exploration targets defined during the summer of 2012 and following up Murgor's new near-surface discoveries (announced on May 31, 2012) at the Golden Arrow West Extension and South Discovery Zone.

The Golden Arrow West Extension is located 700m southwest of the Golden Arrow Open pit and is currently known over a minimum strike length of 200m. The zone was intersected by four drill holes, extending the gold deposit to a total strike length of approximately 1.1 km.  At line 700S, both drill holes AE12-03 and AE12-11 intersected the mineralized zone which reaches a minimum width of 90m at surface.

Results from the Golden Arrow West Extension to date are shown below:

Line 700S:	Drill Hole AE12-03:		78.0 metres assaying 0.63 g/t gold
	Drill Hole AE12-11:		57.0 metres assaying 0.52 g/t gold
Line 800S:	Drill Hole AE12-01:		78.0 metres assaying 0.64 g/t gold  (released February 28, 2012)
Line 900S:	Drill Hole AE12-02:		21.0 metres assaying 0.53 g/t gold
		and	18.0 metres assaying 0.92 g/t gold

The Golden Arrow South Discovery is located approximately one kilometre directly south of the current Golden Arrow open pit.  The gold zone is associated with a NS-trending structure extending from the Golden Arrow Open Pit area towards the south.  Based on two drill holes only, the gold mineralization is believed to extend for a strike length of at least 500m.  The true width of the mineralized zone is unknown to date.
Results from both drill holes are as follows (intersections are open in both drill holes):

Drill Hole AE12-06:		21.0 metres assaying 1.15 g/t gold (underneath the overburden at surface)
	incl:	15.0 metres assaying 1.42 g/t gold
Drill Hole  AE12-07:		12.3 metres assaying 1.50 g/t gold  (drill hole ended in the structure)
	incl.	4.5 metres assaying 5.48 g/t gold

Please visit Murgor's website at www.murgor.com to view maps and sections of the Golden Arrow deposit and property.

To date, Murgor has completed 46 drill holes, for a total of nearly 14,768 metres, aimed at expanding the Golden Arrow Mineral Resource.  Murgor completed an additional 11 drill holes, for a total of 1,733 metres, aimed at exploring new targets at the property-scale.

About the Golden Arrow Gold Mine

The Golden Arrow property consists of 17 mining patents and leases, and four mining claims covering 723 hectares in Hislop Township and 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 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 cut by 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 the NE-SW Golden Arrow Fault, a splay off the Porcupine-Destor Break.  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 Twp are the presently producing 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 Press Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

The technical information in this news release has been reviewed by Mr. Randall Salo, P.Geo, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101.

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.

SOURCE: Murgor Resources Inc.

FOR FURTHER INFORMATION 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]