Murgor Resources announces the completion of a $2.3 million private placement

MONTREAL, May 5 /CNW/ - Murgor Resources Inc. (TSX-V: MGR) announces that it has completed a private placement in the amount of $2.3 million to "accredited investors" in Canada, as announced on April 24, 2008. In the private placement, Murgor issued 2.6 million "flow-through" common shares at a price of $0.50 per share, for proceeds to Murgor of $1.3 million, and 2,631,578 units at a price of $0.38 per unit, for proceeds to Murgor of $1.0 million. Each unit is comprised of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one additional common share at a price of $0.60 for a period of two years.

In the event that the closing price of Murgor's common shares on the TSX Venture Exchange for any period of 20 consecutive trading days, commencing on or after August 5, 2008, is $0.75 or more, the exercise period of the warrants will be shortened from two years to a period ending 30 days after the last day of the 20 consecutive trading days, unless the warrants would otherwise expire prior thereto.

Murgor will use the proceeds from the placement of the flow-through shares on its properties in Manitoba and Saskatchewan. The proceeds from the placement of the units will be added to Murgor's working capital.

The flow-through shares, and the common shares and warrants comprised in the units, are subject to a "hold period" expiring on September 6, 2008 under applicable securities laws in Canada.

In connection with the private placement, Murgor paid a cash commission to registered persons equal to 7% of the proceeds from the sale of the units and flow-through shares, and granted "broker warrants" to such persons entitling them to purchase a number of units and flow-through shares equal to 7% of the number of units and flow-through shares, respectively, sold in the private placement.

Following the private placement, there are 29,342,780 common shares of Murgor issued and outstanding.

About Murgor Resources Inc.

Murgor Resources Inc. is a mineral exploration company with a focus on zinc, copper and gold exploration in Canada. In late 2006, Murgor signed six agreements with HudBay Minerals, acquiring the right to earn a 100% interest in three deposits with a total NI 43-101 Inferred resource of: 8,666,000 tons of mineralization, containing 143,150,000 pounds of copper, 430,251,000 pounds of zinc, 221,000 ounces of gold and 2,526,000 ounces of silver. Murgor has also acquired from HudBay Minerals, a 50% interest in two highly prospective grassroots properties, covering more than 1,850 square kilometres adjacent to the Snow Lake and Flin Flon mining districts. The exploration target for Murgor consists of deposits in one of the most prolific greenstone belts in Canada and the world. Murgor also benefits from its association with HudBay Minerals, one of Canada's most successful mining companies.

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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

-0- 05/05/2008 /For further information: PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT: Andr De C. Tessier, President & CEO, MURGOR RESOURCES INC., Tel: (613) 546-7503 or 1-888-891-3330, Fax: (613) 546-7318, E-mail: info(at)murgor.com; Michael Joyner, Investor Relations, THE EQUICOM GROUP, Tel: (416) 815-0700 or 1-800-385-5451 ext 275, Fax: (416) 815-0080, E-mail: mjoyner(at)equicomgroup.com/ (MGR.) CO: Murgor Resources Inc.

ST: Qu Debec IN: MNG SU: PVT -30- CNW 18:38e 05-MAY-08