Manning Ventures Inc. announced that it has entered into a property purchase agreement (the Purchase Agreement) with the legal and beneficial holders (collectively, the Vendors) of the Broken Lake, Heart Lake, and Hydro properties (collectively the Properties or Projects), pursuant to which the Company will acquire a 100% interest the Properties (the Acquisition). The Properties are located in the Province of Quebec and consist of 180 mineral claims totaling 9,501 hectares. The new Properties represent priority early-stage exploration opportunities with positive historical drill hole and rock sample results that have established the presence of iron formations. Situated within the Wabush-Fermont Iron Ore District, the Properties are also proximal to several known iron deposits and occurrences. With the acquisition of the Properties, Manning now controls five iron ore exploration projects ­ Hope Lake, Lac Simone, Broken Lake, Heart Lake, and Hydro ­ for 311 claims totaling over 16,372 hectares. Heart Lake is a 2,855-ha property featuring approximately 10-km of linear-style iron formation. Recent drilling, Hole TM15-01 (GM69425), intersected 26.7% Fe over 25.6 m and ended in high- grade iron formation. The claims are along strike with Champion Iron's ground where iron-formation on the same trend, approximately 6 km away, contains a drill hole with two separate iron formations of 31.2% Fe over 50.8 m and 30.8% Fe over 42.2 m. Hydro, a 2,122-ha property, features approximately 12-km of linear-style iron formation. Several historical rock samples, amongst three separate zones, have been collected along the trend and average approximately 32.5% Fe (GM67778). The trend does not have any documented historical drilling. Broken Lake, a 4,524-ha property, features an approximately 18-km long trend of iron formation that has been historically drill-tested, and a well-mineralized interval exceeding 84 m reported, although no assays were documented (GM04504B). A 6 km long belt of highly magnetic rocks in the area, that has not yet been drill-tested, has been mapped as a magnetite-rich iron formation and represents a prime exploration target. The project contains magnetic signatures and geological mapping that suggest structural thickening and possibly over-turned sequences of rocks that have the potential to create favorable iron formation horizons. In consideration for the Acquisition and pursuant to the terms of the Purchase Agreement, the Company will: issue an aggregate of 4,000,000 common shares in the capital of the Company (the Payment Shares) to the Vendors; grant an aggregate of 4,000,000 common share purchase warrants (the Payment Warrants) to the Vendors, each of which will be exercisable into one common share in the capital of the Company (a Warrant Share) at an exercise price of $0.35 per Warrant Share for a period of two (2) years from the grant date; and pay nominal cash consideration of $1.00.