Second quarter of Calendar year 2009

Welcome to the summer of 2009.

We are in the midst of a recession, in the aftermath the worst financial crisis the world has ever witnessed. During the first six months of 2009, however, we have seen the early signs of an economic recovery perhaps in response to the massive economic stimulus packages announced by governments worldwide.

Granted, the business world has changed tremendously, but for companies like Murgor who will live through this downturn, "the show must go on"!

Market Review

During the first half of 2009, the TSX and the TSX Venture indices have risen by 35% after a slump in late February. During the same period, the price of copper has increased by nearly 65% while copper warehouse stocks on the LME have fallen well below 300,000 tons, largely due to aggressive buying by China . During the same period, the price of zinc rose to $0.70 a pound, a 23% increase since January, while LME warehouse stocks are on a downward trend since February. Gold meanwhile, was at $940 per ounce at the end of June after seeing a low of $810 per ounce in mid-February of 2009.

The steady Gold prices and recovering Copper prices bode very well to the economics of our Wim and Hudvam deposits, which contain over 355,000 ounces of gold and 161 million pounds of Copper combined.

Corporate and Exploration Activities

At Murgor, we are cautiously optimistic about these early signs of economic recovery. The summer is upon us, which is typically a time of softening markets. While the Canadian economy is in better shape than that of our southern neighbour, a sustained global demand for metals will be necessary before the junior mining sector fully recovers. With financial stability in mind, in late June, Murgor raised $399,800 at market price ($0.09 per unit) through a non-brokered, non-flow-through private placement with institutional investors. We are fortunate and very grateful of the continuing support from current shareholder base.

Flin Flon Properties in Manitoba and Saskatchewan :

In April, I met with the new management of Hudbay. When Murgor originally optioned the Flin Flon properties from Hudbay in 2006, Peter Jones was at the helm. He is now back as the CEO since early 2009. The tone of the meeting was positive and I kept Mr. Jones up to date with our impressive resource expansion at Wim and Hudbay in the last 3 years.

In March, Murgor completed a short exploration drilling program at the Fon Zinc Property . The drilling intersected conductive sulphide mineralization which consisted of pyrite and pyrrhotite without significant metal grades.

Quebec :

In late June, Murgor started a mechanical trenching program at the Windfall Gold Property (a 50-50 joint venture project with Freewest Resources Canada Inc.) . We have outlined eighteen (18) high potential targets on the property, on gold-bearing NE-trending structures. The most promising targets are located on strike with a 2006 drill hole intercept of 42.8 oz/t gold over 4.80 meters that is located within 200 meters south of the Murgor JV property boundary.

Trenching at Windfall August 28, 2009.

A 3,000 meter drilling program is planned later this year, after results from the mechanical trenching program have been compiled and interpreted.

At the Fancamp Gold Property , Murgor geologists recently relocated three historical trenches (dating 1949-50) all within a 150 meter radius. Historical documents report "heavy chip sampling" with values of:

• Trench A: 1.35 oz/t Au over 20 feet (6.10 meters)
• Trench B: 0.19 oz/t Au over 38 feet (11.58 meters)
• Trench C: 0.31 oz/t Au over 40 feet (12.19 meters)

Six shallow drill holes of the same vintage tested the area and returned the following values at shallow depth:

• 0.76 oz/t Au over 3 feet (26.06 g/t over 0.91 meter)
• 0.60 oz/t Au over 3 feet (20.57 g/t over 0.91 meter)
• 2.13 oz/t Au over 1 foot (73.03 g/t over 0.30 meter)
• 0.45 oz/t Au over 1 foot (15.43 g/t over 0.30 meter)
• 0.15 oz/t Au over 4 feet ( 5.14 g/t over 1.22 meter)

The area has been outlined for a mechanical trenching program in August of 2009 to better understand the structural setting of the mineralization. A drilling program may follow in the fall-winter of 2009.

IN CLOSING

At HudBay's AGM on June 18, HudBay CEO Peter Jones emphasized the importance of exploration and development in the Flin Flon belt and the importance for the "organic growth" of the metal resource at HudBay. Organic growth, implies the discovery and development of resources in close proximity to existing resources. Furthermore, Mr. Jones was quoted as saying that HudBay was in "acquisition mode".

Murgor offers some of the best and most advanced gold and base metal deposits in the belt. With only 45 million shares, no debt and self-sustaining capital through 2010, the company is very undervalued and well positioned to ride out this economic uncertainty. Our goal remains, to deliver shareholder value through production either independently or through a joint partnership.

Sincerely,

André C. Tessier, P.Eng, P.Geo
President, CEO
July 5th, 2009.

ABOUT MURGOR RESOURCES

Murgor Resources Inc. is a mineral exploration and development company focused on copper, zinc and gold deposits in Canada . In 2006, the company acquired the right to earn a 100% interest in three deposits: the Hudvam and Wim deposit in Manitoba and the Fon deposit in Saskatchewan from HudBay Minerals (TSX:HBM). The exploration target for Murgor consists of polymetallic massive sulphide deposits in one of the most prolific greenstone belts in Canada and the world. Murgor also owns a 1% NSR royalty in the Barry Gold Mine and an interest in the advanced Windfall Gold Project in Quebec .

The table below shows the total 43-101 compliant resource for Murgor's Hudvam, Wim and Fon deposits*.

For statement of resources, see Murgor Press Releases: Feb. 20, 2007 for Fon; Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

*All resources are NI 43-101 compliant.

This newsletter includes certain "forward-looking statements". All statements other than statements of historical fact, included in this newsletter, 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.