Manitou Gold Inc. (TSX VENTURE:MTU) ("Manitou Gold" or the "Company") is pleased to announce that it has completed a non-brokered private placement (the "Offering") of 454,078 units ("Units") at a price of $0.55 per Unit with Goldcorp Inc. ("Goldcorp") as the sole subscriber, for gross proceeds of $249,743.

The Offering represents the reinvestment by Goldcorp of an amount that became due and payable by Manitou Gold to Goldcorp upon the closing of the previously announced $10 million private placement.

Following the closing of the Offering, Goldcorp holds 4,454,078 common shares of the Company, representing approximately 9.5% of the Company's issued and outstanding share capital.

The proceeds of this offering will be used for general working capital purposes. No fees, commissions, or finders fees were paid in respect of the Offering.

The Offering remains subject to the approval of the TSX Venture Exchange. All securities issued in connection with the Offering are subject to a statutory hold period expiring August 19, 2011.

About Manitou Gold

Manitou Gold Inc. is a well-funded gold exploration company focused with a dominant land position in the Gold Rock Mining Camp, located in the Kenora Mining District, in Northwestern Ontario

Regards,

Hg