Manitou Gold Inc. Applies to Extend Term of Warrants

TORONTO, ONTARIO -- (Marketwire) -- 03/04/13 -- NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Manitou Gold Inc. (TSX VENTURE: MTU) ("Manitou") announces that it will make an application to the TSX Venture Exchange (the "TSXV") to extend the term of its Series 2011-I warrants for an additional year. An aggregate of 5,900,000 Series 2011-I warrants were originally issued on March 29, 2011 (the "First Tranche Warrants") and are exercisable at $0.70 per share March 29, 2013, and an aggregate of 227,039 Series 2011-I warrants (the "Second Tranche Warrants") were originally issued on April 18, 2011 and are exercisable at $0.70 per share April 18, 2013, each subject to acceleration in certain circumstances as specified therein (the "Acceleration Provisions"). Manitou is applying to extend the term of the First Tranche Warrants to March 29, 2014, and the term of the Second Tranche Warrants to April 18, 2014, each subject to the Acceleration Provisions. The exercise price for the warrants will remain the same.

The warrant amendments have been approved by the board of directors of Manitou. The warrant amendments remain subject to TSXV approval.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Manitou, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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.

Contacts:

Manitou Gold Inc.

Todd Keast

President and Chief Executive Officer

705-222-8800

705-222-8801 (FAX)
info@manitougold.com