Welcome to the April 2008 edition of Murgor’s Monthly newsletter.  This newsletter provides a summary of Murgor’s key exploration activities and management decisions that have taken place during the month of March 2008.   An update on upcoming activities is also provided. 

MARCH 2008 EXPLORATION ACTIVITIES:

Drilling continued at the Wim and Hudvam properties in Manitoba with four drill rigs while a fifth drill rig was mobilized to test exploration targets at large.  At the Hudvam deposit, definition, infill, metallurgical and geotechnical drill holes were completed and Murgor’s first exploration drill hole intersected two new mineralized zones (see press release dated March 20, 2008).  At Hudvam, a total of seven drill holes were completed in March, for a total of 2,667 metres.  At the Wim deposit, geotechnical and metallurgical were completed and definition and infill drilling were completed for the upper portion (above 400 metres depth) of the deposit.  It was discovered through this phase of the drilling program that the Wim deposit extends to surface; more than 300 metres beyond the initial upper limit of the known orebody (see press release dated April 01, 2008).  Fifteen drill holes were completed at Wim in March, for a total of 2,942 metres.  

Exploration drilling started in Saskatchewan with one helicopter-supported drill rig. A total of 1,241 metres were completed in four (4) drill holes (MSK08-004 is still in progress).  All results are pending.     

WIM PROPERTY:

Drilling continued at Wim until March 22nd with two drill rigs. A total of fifteen (15) boreholes were completed in March for a total of 2,942.53 metres. To date, Murgor drilled a total of 11,030.69 metres in 46 boreholes in 2008, and a total of 18,271.49 metres in 61 boreholes in 2007-08.  Assay results for the first twenty (20) boreholes of the 2008 drill program were made public in press releases.  Assays from the remaining 26 drill holes are pending.

Murgor’s 2008 drilling program at Wim was very successful and extended the mineralization of the deposit by approximately 300 metres vertical, up to the surface, over a strike length of 400 metres (see longitudinal section).  An average of 5.50 metres of heavily disseminated to massive sulphide comprising visible chalcopyrite was intersected with 22 boreholes. 

Five (5) exploration boreholes were also completed in March, for a total of 1,568 metres.  The holes were drilled to test the western extension of the Wim horizon as well as the stacked sulphide lenses present in the structural hanging wall of the Wim horizon.  The holes were spaced to maximize coverage with the help of borehole Pulse EM.  All results are pending.

Two (2) metallurgical holes were drilled at Wim (WZS08-034 and WZS08-035) and the core was sent for metallurgical testing at the end of February.  Results of this testing are expected during the summer of 2008.

A total of three (3) boreholes were drilled to obtain geotechnical data to design the crown pillar and one (1) piezometer was installed in borehole WZS08-047 to monitor ground water.

Murgor’s success at increasing the size of the Wim lens near surface, meant that all the drilling that was planned for 2008 had to be dedicated at defining this new part of the lens.  Therefore, the upper part of the mineral resource will likely be upgraded to an indicated category while the deeper portion of the deposit may remain at the inferred category. 

HUDVAM PROPERTY:

A total of 2,667.63 metres in seven (7) boreholes were completed in March at the Hudvam property. In 2008, Murgor has completed 9,321.98 metres in thirty (30) boreholes and since acquiring the property in late 2006, Murgor drilled a total of 13,532.59 metres in 51 boreholes.  At the end of March, approximately one third of the assay results have been received (see Murgor’s press release dated March 11th, 2008 for a full list of assays to date).

The objective of the 2008 drilling program was to complete the definition drilling of zones 1 and 3, to test the intersection of the Zone 1 corridor with the Broadhurst corridor, and to test the potential extensions of the known mineralization.  In addition, one borehole (HVS08-050) was designed to test the down-dip extension of zone 1 at an elevation of 1350 m.  This borehole is still in progress.

The drilling program was quite successful and resources are expected to be upgraded to the Indicated category.  A narrow but high grade zone of Cu-Au, defined between the main part of Zone 1 and the upper lens, between 1800 and 1900 m elevation may also increase the resource.

The most important success at Hudvam was the intersection of two new massive sulphide zones in borehole HVS08-44.  The drill hole was testing the intersection between an alteration zone and the Zones 1 & 3 mineralized corridor. This borehole intersected 2.33 metres sulphide mineralization at the target site, and 5.50 metres of sulphide mineralization in the stratigraphic hangingwall of lenses 1 and 3.  These two new intersections are very interesting since they open new, never before tested areas of the deposit.  Please see Murgor’s press release dated March 20th, for more details about these new intersections.

In addition to definition and infill drilling, a total of three (3) boreholes were drilled to collect material for metallurgical testing.  HVS08-030 was drilled in Zone 3 and boreholes HVS08-025 and HVS08-034 were drilled in Zone 1.  Samples were sent for metallurgical testing in late February and results of the testing are expected during the summer of 2008.

A total of 599.23 metres in six (6) boreholes were drilled to collect geotechnical data for crown pillar design of zones 1 and 3, and two piezometers were installed in boreholes HVS08-041 and HVS08-045 to monitor ground water over the deposit and near the portal of the ramp.

FON PROPERTY:

The helicopter-supported drill rig completed two (2) exploration boreholes for a total of 703 metres on the Fon property during March.  Borehole MSK08-001 was designed to test a large Infinitem anomaly detected to the east of the Abbott Lake zone, at a vertical depth of 250 metres.  The most interesting rock unit was intersected from 336.17 and 346.22 metres and corresponds to an altered fragmental rhyolite with 3-7% disseminated pyrite. The position of this rock unit corresponds to the targeted Infinitem anomaly but the sulphide content cannot explain the conductor.

A borehole Pulse EM survey detected a long wavelength off-hole anomaly near 300 metres down the hole. This anomaly is interpreted as being caused by a sizeable source located at least 30 metres below the current trace of the hole.  This anomaly will be drill tested in April.

Borehole MSK08-002 targeted a shallow VTEM anomaly in the structural footwall of a longer formational conductor, approximately 2 kilometres east of the Fon deposit.  Assay results are pending.

Murgor is also evaluating its new interpretation that outlined a mineralized zone that would be amenable to open pit mining, with a potential ranging from 1,200,000 tons to 3,900,000 tons at an average grade of 2.1% Zn (ranging from 1.4% Zn to 3.6% Zn) and yielding a potential 51,300,000 to 162,200,000 pounds of Zinc. (see press release dated February 28th, 2008). 

FLIN-D PROJECT:

Over 20 kilometres of line cutting was completed in January of 2008 and a ground Pulse EM survey was completed in February over a prospective area outlined through compilation and field work during the summer of 2007.  The area covers a new alteration zone with mineralization that was discovered on the shores of Gifford Bay with a strike length of nearly 1,000 metres along with massive sulphide mineralization occurrences returning over 1.52% copper in grab samples.  An old drill hole is also reported in the area, which returned 1.32% zinc and 0.38% copper over 0.93 metres.

The survey identified a northerly trending conductor varying from steeply easterly dipping in the southern part of the grid to shallowly easterly dipping in the northern part of the grid. This reflects the folding that was identified during last summer field work. The top of this conductor generally starts around 200 metres below the surface.  Two boreholes will test this conductor in April.

A 1,839 line kilometre helicopter borne VTEM survey was flown between during February over the Flin-D project area (under option from HudBay Minerals).  Another 350 line kilometre survey was flown on ground that was staked by Murgor (Murgor 100% ownership). The survey covers prospective sectors defined on the basis of anomalous till samples, the presence of felsic rock units, and prospective structural contexts.

During the second half of March, two (2) exploration boreholes (for a total of 538 metres) were drilled on the Flin D property with the helicopter supported drill rig. The boreholes essentially targeted VTEM anomalies located in favourable geological rock units.  All results are pending.

SNOW-H PROJECT:

A 2,540 line-kilometre helicopter-borne VTEM survey was completed during March over the western part of the Snow H block.  When combined with the 2007 survey, Murgor has covered over 95% of the area of the Snow H agreement.  Results are currently being processed.

IN CLOSING:

Murgor has had two very successful drilling programs this winter.  The Company successfully completed geotechnical, metallurgical, definition and infill drilling at both the Hudvam and Wim deposits.  This drilling will likely result in increased resources at both deposits and will also upgrade a large part of the resource from Inferred to Indicated.  Pre-feasibility and scoping studies are still underway at both deposits.

The market conditions are such that Murgor’s shareholders are not rewarded yet for this progression.  An obstacle that is common to the whole junior mining sector.  The patient investor will, however, be rewarded as producers should achieve just value in the very near future with the price of commodities helping.  Copper is poised to climb above $4.00 per pound and gold is predicted to climb to new heights (predictions of up to $1,650 per ounce) in 2008 and 2009.  The future looks bright at Hudvam and Wim.  It is just a matter of time until the same fundamentals (low stock, climbing demand and a shortage of supply) lift the price of Zinc to new heights.
In the meantime, Murgor continues its march towards production as planned. 

Please keep logging on to www.murgor.com for more up to date details on the Corporation.

Thank you for your interest in Murgor Resources and for your continued support. 

                Respectfully submitted,