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October 5, 2012 - Vancouver, British Columbia, Manado Gold Corp. ("Manado") (TSX-V: MDO) announced the results of the first phase diamond drilling program on its 3388 hectare Clisbako property in the Cariboo Mining Division of British Columbia. Approximately 1,500m was drilled to test the deeper mineralized zones of epithermal silica stockworks and breccias, and quartz veined volcanic rock identified on the "South Zone" and the "Bari 1 and Bari 2 Zones" (see 43-101 authored by J. T. Shearer M.Sc, P.Geo dated July 1, 2011). These two zones were selected for drilling as they were determined to be the nearest to the paleo-surface. The drill did encounter significantly altered epithermal zones but the mineral values are low and uneconomic. Manado is completing a detailed analysis of the results to determine what additional work and what other zones should be tested.
Jo Shearer, M Sc. PGeo, is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects and is responsible for the work program on the Clisbako Property. Mr. Shearer has supervised and approved all technical information in this news release.
On behalf of the Board of Directors
Logan Anderson
President and Chief Executive Officer
info@manadogold.com
Investor Relations - Dave Ryan
dave@manadogold.com
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado's control. Such factors include, among other things: risks and uncertainties relating to Manado's ability to complete the proposed work program on the Clisbako Property, Manado's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Manado's properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.
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