Manicouagan Completes Share Consolidation

MANICOUAGAN MINERALS INC.

Suite 501, 133 Richmond Street West Toronto, Ontario M5H 2L3 (416) 542 – 3980

News Release

MANICOUAGAN COMPLETES SHARE CONSOLIDATION

TORONTO, June 20, 2011 - Manicouagan Minerals Inc. (TSXV – MAM) announced today that it has received TSX Venture Exchange approval for the consolidation of the Company’s issued and outstanding Common Shares on the basis of one (1) new Common Share for every ten (10) Common Shares presently issued and outstanding. Manicouagan’s Common Shares will begin trading on a consolidated basis on the TSX Venture Exchange on Tuesday, June 21, 2011.

A new Cusip number of 56323R508 replaces the old Cusip number of 56323R102 to distinguish between the pre and post-consolidated shares. Manicouagan’s name and trading symbol will remain unchanged. Following completion of the Common Share consolidation, the Company will have approximately 17.85 million Common Shares issued and outstanding.

About Manicouagan

Manicouagan Minerals Inc. is a Canadian based exploration company focused on advancing its gold projects in the Pickle Lake Gold Belt, Ontario. Manicouagan also has a pipeline of commodity projects including the Brabant Lake Zinc deposit in Saskatchewan, together with the Mouchalagane Nickel/Copper/PGE project and the HPM/Forgues Nickel/Copper/Cobalt project, both in Quebec. Additional information about the company can be found at www.manicouaganminerals.com.

Une traduction française de ce communiqué de presse est disponible à www.manicouaganminerals.com.

For further information contact:

Joseph Baylis, President and Chief Executive Officer, Manicouagan Minerals Inc.

(416) 542-3980 or Andreas Curkovic, Investor Relations - (416) 577-9927 or [email protected]

Forward Looking Statements

All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, 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 the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Manicouagan Minerals Press Release June 20, 2011