Mr. Ronald Shorr reports

MAUDORE MINERALS LTD.: 453.5 G/T GOLD INTERCEPT IN MAUDORE DRILLING, WITH MORE EXCEPTIONAL HIGH GRADE GOLD IN 25 NEW HOLES

Maudore Minerals Ltd. has released multiple high-grade gold assays from the continuing exploration and definition drilling at its Comtois project (near Lebel-sur-Quevillon, north of Val d'Or, Que., Canada). Drilling has intersected broad zones of gold mineralization near surface, supporting the possibility of open pit mining, as well as high-grade mineralization, that demonstrates continuity to depth.

Ron Shorr, chairman and chief executive officer of Maudore, was delighted, "The 453.5-gram-per-tonne hole over 0.5 metre contained within 153.8 g/t over 1.5 m (estimated true widths of 0.4 m and 1.2 m, respectively) in the Osborne area is the highest grade encountered in the past five years of drilling." Four drills continue to work on a mineralized geological contact with a number of high-grade intersections of gold mineralization over the Osbell strike length from the western edge of the Bell zone to the eastern edge of Osborne and beyond.

Drilling highlights

Significant results were obtained along the entire 11-square-kilometre Osbell trend. Numerous intercepts above 10 g/t are not highlighted in the attached tables. Refer to attached tables for detailed results.

Osborne/Osborne West areas

Near-surface definition drilling was conducted in the first 150 m in the Osborne and west of Osborne areas, with the objective of confirming the resource base and potentially upgrading inferred resources to indicated. Definition drilling is confirming the resource base and offers potential to upgrade inferred resource to indicated. It includes large-calibre drill holes (HQ core size), which may be later used in metallurgical testwork.

             HIGHLIGHTS -- LESS THAN 150 METRES DEEP

Hole        Area name  From    To      Apparent   Assay        Comment
No.                                    width      g/t Au

COM-10-435    Osborne  119.4 m 120.2   0.8 m      92.3         Within 15.5 g/t
                 West                                          Au over 5.5 m
COM-10-456    Osborne  126.6   127.6   1.0 m      69.5         Within 10.3 g/t 
                                                               Au over 8.4 m
COM-10-443    Osborne  104.5   105.0   0.5 m      54.5         Within 14.6 g/t 
                                                               Au over 2.0 m

               HIGHLIGHTS -- BELOW 150 METRES DEEP

Hole       Area name   From    To       Apparent    Assay      Comment
No.                                     width       g/t Au

COM-10-448   Osborne   329.3   329.8    0.5 m       453.5      Within 153.8 g/t
                                                               Au over 1.5 m
COM-10-434   Osborne   242.0   242.5    0.5 m       81.1       Within 28.0 g/t 
                West                                           Au over 1.5 m

Exploration in the Bell, Midway and Osborne East areas has also been continuing east and west of Osborne in an effort to link the project areas.

  
                            HIGHLIGHTS

Hole        Area name    From    To      Apparent    Assay       Comment
No.                                      width       g/t Au

COM-10-428  Midway       546.6 m 547.1   0.5 m       50.7        Within 28.6 g/t
                                                                 Au over 1.0 m
COM-10-432A Midway       160.0   160.5   0.5 m       35.6        Within 11.4 g/t 
                                                                 Au over 1.6 m
COM-10-461  Osborne      153.0   153.8   0.8 m       25.7        Within 13.9 g/t  
            East                                                 Au over 1.5 m
COM-10-411  Bell         250.9   252.4   1.5 m       18.6        Within 9.6 g/t Au
                                                                 over 3.0 m
COM-10-438  Midway       180.9   182.2   1.3 m       16.0

Orientation test drilling at Osborne

A series of holes was drilled subparallel to the mineralized zone to test for mineralized cross-structures and to test lateral continuity. The results support the possibility of an open pit and are reported in the attached Osborne highlights table. Note that these intersections do not represent true widths.

                       OSBORNE HIGHLIGHTS

Hole         Area name   From    To       Apparent   Assay       Comment
No.                                       width      g/t Au

COM-10-445   Osborne     146.6 m 172.1    25.5 m     6.6         Also 49.2 g/t
                                                                 over 1.5 m
COM-10-439   Osborne     62.5    65.1     2.6 m      11.5        Includes 33.5 g/t
                                                                 Au over 0.6 m
COM-10-439   Osborne     122.3   123.6    1.3 m      31.9        Includes 54.9 g/t
                                                                 Au over 0.7 m
COM-10-442   Osborne     215.0   218.5    3.5 m      11.3        Includes 23.0 g/t
                                                                 Au over 0.9 m

Base metal and silver associations

Hole No. 448, which returned 453.5 g/t gold over 0.5 m, also contained strong copper, zinc and silver mineralization, including values locally as high as 1.73 per cent Cu, 1.32 per cent Zn and 376 g/t Ag. This polymetallic mineral association tends to confirm that the Osbell gold deposit is a pyritic disseminated gold deposit with volcanogenic massive sulphide affinity. This result is encouraging for further exploration in the area, as well as on the extensive land held by Maudore for 95 kilometres along strike.

Director resigns

John Theobald has resigned from the board of directors of Maudore Minerals to focus on his new role at Anglo Pacific Group PLC. The Maudore board thanks Mr. Theobald for his valuable contributions over the past year and wishes him well in his new position as chief executive officer of Anglo Pacific.

Quality assurance and quality control

Maudore's exploration program is supervised by Alain Carrier, MSc, PGeo of InnovExplo Inc., a consulting firm based in Val d'Or (Quebec). Mr. Carrier is a qualified and independent person as defined under NI 43-101 guidelines. Comtois exploration is conducted under strict QA/QC protocols, including mineralized standards, blanks and field duplicates. Half of all sampled core is retained for future reference, and analyses are performed by ALS Chemex laboratories in Val d'Or (Quebec) and Timmins (Ontario) (fire assay with AA finish and gravimetric finish for results above three g/t Au).