Robert McEwen Files Early Warning Report in Connection with Private Placement in Manitou Gold Inc.

TORONTO, ONTARIO--(Marketwire - Sept. 18, 2012) - Robert McEwen announces that he has subscribed, by way of a private placement for 4,000,000 flow-through units (the "Units") of Manitou Gold Inc. ("Manitou Gold") at a price of $0.15 per Unit for an aggregate amount of $600,000. Each Unit consists of one (1) flow-through common share and one (1) common share purchase warrant (the "Transaction"). Each common share purchase warrant entitles Mr. McEwen to purchase one (1) additional common share in Manitou Gold at a price of $0.25 for a period of 24 months from the date of issuance thereof. The shares purchased pursuant to the Transaction represent approximately 8.1% of the current number of outstanding shares of Manitou Gold. The shares were issued from Manitou Gold's treasury.

Mr. McEwen entered into the Transaction for investment purposes and may increase or reduce his investment in Manitou Gold according to market conditions or other relevant factors.

Upon completion of the Transaction, Mr. McEwen will hold 5,000,000 shares and 4,500,000 warrants convertible into shares, for a total of 9,500,000 shares of Manitou Gold, representing approximately 17.7% of Manitou Gold's issued and outstanding shares.

A copy of the early warning report filed in connection with the Transaction will be made available on SEDAR (www.sedar.com).