KINGSTON, ON, April 26, 2012 /CNW/ - Murgor Resources Inc. (TSXV: MGR) today announced that it has entered into an exploration and option agreement with Vanstar Mining Resources Inc. at its wholly owned Fancamp project located 55 km south of the town of Chibougamau in the province of Québec.

Under the terms of the exploration and option agreement, which remains subject to regulatory approval, Vanstar will have the option to earn an interest of 70% in the Fancamp project by paying $150,000 in cash and issuing 1,000,000 common shares to Murgor over a period of three years, and incurring exploration expenditures aggregating $1,200,000 over four years.

The option agreement also provides that Murgor shall receive, subject to certain conditions, up to 2,000,000 additional common shares of Vanstar, in the event Vanstar discloses gold resource on the Fancamp Property compliant with the standards of National Instrument 43-101. The foregoing additional Vanstar shares would be issued in tranche of up to 200,000 shares for each 250,000 ounces of new gold resources disclosed by Vanstar

"We welcome Vanstar as a partner on the Fancamp project," said Andre Tessier, President and CEO of Murgor Resources. "This agreement conforms to Murgor's strategy to concentrate its exploration efforts on the Golden Arrow deposit east of Timmins, Ontario, where Murgor is continuing to expand the gold resource."

Golden Arrow Update
Murgor Resources is currently compiling and evaluating assay results from its third phase of drilling at Golden Arrow. Complete assay results to date will be released shortly along with a new model of the expanded gold mineralized body.

Mr. Andre C. Tessier, P.Geo. (ON) and P.Eng. (QC), President and CEO of Murgor Resources Inc. and a "Qualified Person" as defined by NI 43-101, is responsible for the technical information in this news release.

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.

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.