• Magnetic survey outlines 9 new faults parallel to the Golden Arrow Fault.

KINGSTON, ON, Oct. 4, 2011 /CNW/ - Murgor Resources Inc. (TSXV:MGR) announced today that it has completed a high resolution magnetic survey at its Golden Arrow Gold project, located 65 kilometres east of Timmins, Ontario. The survey outlines in detail the contacts of the two syenitic intrusions surrounded by magnetically high halos in mafic volcanic rocks on the property. The Golden Arrow deposit is hosted in a NE-trending structure, the Golden Arrow Fault, that cuts across one of the syenite intrusion, near the northern contact of the syenite with the mafic volcanic rocks. To date, only 500 meters of the Golden Arrow Fault have been tested and only one historical drill hole has ever intersected the structure below 200 meters (one drill hole at 220 meters).

Also visible on the new magnetic survey is the ore-hosting Golden Arrow fault and nine (9) additional parallel structures that have never been outlined before. Only one of these structures has ever been drill tested, with historical drill intercepts of up to 9.22 g/t Au over 13.44 meters. A total strike length of over 12 kilometres of new untested structures have been outlined on the property, each with potential to host undiscovered gold mineralization.

"We are thrilled with the results of this magnetic survey and all the geological information we can draw from it." says André Tessier, President and CEO of Murgor Resources. "The detailed trace of the syenite intrusion contacts, the trace of the Golden Arrow fault and the interpretation of nine additional parallel structures, will all serve to delineate numerous new targets at the property-scale at Golden Arrow."

Meanwhile, exploration work continues at Golden Arrow with a 5,000 meter drill program aimed at proving the size and depth potential of the gold mineralized zone. Geologists at Murgor believe the mineralization at Golden Arrow to be very similar to the Young-Davidson Mine located approximately 50 km south of Golden Arrow, where Northgate Minerals Corp. defined reserves in excess of 2.8M ounces gold at similar grades (Northgate Minerals Corp. 43-101 Technical Report, Jan. 23, 2009, available on SEDAR).

Murgor also plans to embark on a property-wide exploration program shortly. To view the magnetic map discussed above please click here or visit www.murgor.com.

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 kilometers east of the Town of Timmins in Ontario. In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 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 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 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.

*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. Andre Tessier, 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.