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Website: www.maudore.com Email: news@maudore.com

PRESS RELEASE

MAUDORE: BROAD NEAR-SURFACE INTERVALSCONFIRMING OPEN PIT POTENTIAL -

More Exceptional Drilling Results at Comtois

Montreal, Quebec CANADA, January 18, 2011 - Maudore Minerals Ltd. (MAO: TSX-Venture;MAOMF: US OTC; M6L: Frankfurt Exchange) is pleased to report multiple high grade goldassays and significant results from the ongoing exploration and definition drilling at its ComtoisProject (north of Val-d’Or, Quebec, Canada).

Exceptional intercepts include 78.8 g/t. Au over 0.8m, 49.8g/t Au over 0.7 m, and 45.7 g/t Auover 1.3m, all at shallow depths of 140m, 93m, and 86m respectively.

However, the important implication of these holes is confirmation of the open pit potential. This isexemplified in broad, near-surface, gold mineralized envelopes (above 3.5 g/t Au) overestimated true widths in the range of 10 to 20m in the East of Bell and Osborne areas:

5.7 g/t Au over 23.5m (COM-10-507), 109.0 to 133m depth, East of Bell. 3.9 g/t Au over 12.2m (COM-10-472), 44.8 to 57m depth, Osborne. 4.4 g/t Au over 13.4m (COM-10-486), 199.6 to 213m depth, Osborne.

Ron Shorr, CEO/Chairman of the Board noted “our emphasis on shallow holes is to prove up theopen pit portions of the resource as soon as possible since this will likely dominate the first four orfive years of production. These holes go a long way toward filling out the full extent of the futureopen pit.”

Significant results were obtained along the entire 1½ km Osbell Trend. Refer to Table 1 fordetailed results.

VMS-Gold PotentialThe new intercept of 45.7 g/t Au and 8.3% Zn over 1.3m included within 25.9 g/t Au and 5.1%Zn over 2.3m (COM-10-491) obtained in the Camten area also confirms gold and base metalsassociation. Drill hole COM-10-491 is located close to drill hole COM-07-137 where the build-upof an off-hole electromagnetic anomaly suggests a higher concentration of sulphides nearby.

These volcanogenic characteristics are documented all along the Osbell mineralized trend. In theMidway area, where disseminated sulphides returned 453.5 g/t Au over 0.5m, also containedstrong copper, zinc, and silver mineralization including values locally as high as 1.73 % Cu,1.32 % Zn and 376 g/t Ag (COM-10-448; refer to October 19 2010 Press Release);in the Camtenarea, where disseminated sulphides and sulphide veinlets returned values of 12.9 g/t Au, 0.4%Cu and 1.1% Zn over 1.5m in historic Cameco’s drill hole (COM-95-10);and in the North of Bell(VMS Area) and West of Bell areas, where semi-massive to massive sulphide lenses are knownto occur.

This polymetallic mineral association tends to confirm that the Osbell gold deposit is a pyriticdisseminated gold deposit with volcanogenic massive sulphide (VMS) affinity. The result isencouraging for further exploration in the area as well as on the extensive land held by Maudorefor roughly 100 kilometers along strike.

Osbell Winter Drilling ProgramDrilling resumed after a one-week hiatus occasioned by Christmas to New Year holidays. Threedrill rigs have been working since the first week of January, and the fourth rig was moved on sitethis week. The winter phase of our annual campaign will be conducted in continuous, non-stopdrilling, 24 hours per day as long as the ground remains frozen. The winter period will provide fullaccess to the promising Midway area, which will be the main focus near-term.

Exploration PropertiesThis winter, Maudore will initiate its first extensive exploration on the western properties, whichextend for about 100km west of Comtois. Arrangements have been made to complete linecutting and ground geophysical surveys on specific targeted areas of the western explorationproperties package. This work will lead to the selection of drill targets in this area. Explorationdrilling is planned on these and some previously qualified targets this winter.

Quality Assurance and Quality Control (QA/QC)Maudore’s exploration program is supervised by Alain Carrier, M.Sc., P.Geo., of InnovExplo Inc.,a consulting firm based in Val-d'Or (Quebec). Alain Carrier is a Qualified and IndependentPerson as defined under Regulation 43-101 guidelines. Comtois exploration is conducted understrict QA/QC protocols including mineralized standards, blanks and field duplicates. Half of allsampled core is retained for future reference, and analyses are performed by ALS-Chemexlaboratories in Val-d'Or (Qc) and Timmins (ON) (fire assay with AA finish and gravimetric finish forresults above 3 g/t Au).

About Maudore Minerals Ltd.The current Inferred Mineral Resource (August 15, 2010) at Comtois is 8,126,000 tons grading4.6 g/t Au totalling 1,212,000 Oz Gold, divided into a resource grading 3.2 g/t Au to 150m depthwith open pit potential, and an underground resource grading 6.8 g/t Au. The estimate used acapping value of 65 g/t Au. For comparative purposes, the uncut resource is 1,400,000 oz. gold.Maudore owns 100% of the Comtois Gold Project in Quebec. Infrastructure is excellent: ahighway; accessibility to North America’s lowest cost power; plenty of nearby water and a mining-oriented local workforce. Quebec is consistently ranked among the best locations worldwide formineral exploration.

Maudore also owns a large land area west of Comtois with volcanogenic gold/massive sulphide(VMS) potential. VMS gold deposits are more common in Quebec than anywhere else in theworld. Maudore’s total land package, now 83,757 hectares (207,000 acres or 323 sq. mi.), islarger than New York City.

On behalf of the Board of Directors of Maudore Minerals Ltd.:Ronald Shorr, Chief Executive OfficerTelephone: 514-761-1415 email: info@maudore.com website: www.maudore.com.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S.Private Securities Litigation Reform Act of 1995 and Canadian Securities laws. Forward-looking statements involvesubstantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risksand uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of thegeneral economic conditions, industry conditions, dependence upon regulatory approvals and the availability of financing.Readers are cautioned that any such statements are not guarantees of future performance and that the actualdevelopments or results may vary materially from those in these "forward-looking statements".

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of thisrelease. Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Table 1 – New significant drilling results, Comtois projectDrill Hole Section From

(m)To(m)

Corelength

Gold(g/t Au)

High grade interval Weighted average

Bell Area

COM-10-500 1375 E 186.0 187.5 1.5 15.4 15.4 g/t Au over 1.5m 7.8 g/t Au

187.5 189.0 1.5 0.1 over 3.0m

COM-10-506 1350 E 162.1 163.5 1.4 0.2 7.0 g/t Au

163.5 165.0 1.5 13.3 13.3 g/t Au over 1.5m over 2.9m

East of Bell Area

COM-10-507 1525 E 109.5 111.0 1.5 3.9

111.0 112.5 1.5 0.4

112.5 113.2 0.7 21.2 11.0 g/t Au

113.2 114.0 0.8 2.3 over 3.0m

114.0 115.5 1.5 10.9

115.5 117.0 1.5 1.4

117.0 118.0 1.0 0.6 5.7 g/t Au

118.0 119.3 1.3 0.1 over 23.5m

119.9 121.2 1.3 0.3

123.7 124.5 0.8 78.8 32.1 g/t Au

124.5 126.0 1.5 7.2 over 2.3m

126.0 127.5 1.5 0.6

127.5 128.8 1.3 0.3

130.8 132.3 1.5 2.1 7.6 g/t Au

132.3 133.0 0.7 19.2 over 2.2m

139.0 139.5 0.5 38.2 38.2 g/t Au over 0.5m 9.8 g/t Au

139.5 141.0 1.5 0.3 over 2.0m

Osborne Area

COM-10-437A 2500 E 89.5 90.5 1.0 1.2

90.5 91.5 1.0 4.9 12.8 g/t Au

91.5 92.5 1.0 6.5 over 3.7m

92.5 93.2 0.7 49.8 49.8 g/t Au over 0.7m

COM-10-462 2475 E 232.0 233.0 1.0 20.8 20.8 g/t Au over 1.0m 11.0 g/t Au

233.0 234.0 1.0 1.3 over 2.0m

279.8 281.0 1.2 0.6 5.7 g/t Au

281.0 282.0 1.0 11.9 11.9 g/t Au over 1.0m over 2.2m

COM-10-464 2487.5 E 208.9 209.4 0.5 12.0 4.7 g/t Au

209.4 210.9 1.5 2.3 over 2.0m 2.9 g/t Au

Drill Hole Section From(m)

To(m)

Corelength

Gold(g/t Au)

High grade interval Weighted average

210.9 212.1 1.2 1.7 over 5.6m

212.1 213.3 1.2 1.9

213.3 214.5 1.2 1.9

COM-10-465 2487.5 E 149.6 150.4 0.8 10.1 10.1 g/t Au over 0.8m

150.4 151.4 1.0 1.3 4.9 g/t Au

151.4 152.6 1.2 4.5 over 3.8m

152.6 153.4 0.8 5.1

COM-10-470 2487.5 E 135.0 136.0 1.0 1.2

136.0 137.0 1.0 1.2

137.0 138.0 1.0 1.5 2.9 g/t Au

138.0 139.0 1.0 10.3 6.4 g/t Au over 7.1m

139.0 140.0 1.0 2.5 over 2.0m

140.0 141.0 1.0 1.5

141.0 142.1 1.1 2.1

COM-10-472 2487.5 E 44.8 46.0 1.2 6.8 4.1 g/t Au

46.0 47.0 1.0 0.9 over 2.2m

47.0 48.0 1.0 0.2

48.0 49.0 1.0 2.5

49.0 50.0 1.0 6.1 5.7 g/t Au

50.0 51.0 1.0 5.2 over 2.0m 3.9 g/t Au

51.0 52.0 1.0 1.7 over 12.2m

52.0 53.0 1.0 0.7

53.0 54.0 1.0 0.0

54.0 55.0 1.0 0.3

55.0 56.0 1.0 0.1 10.6 g/t Au

56.0 57.0 1.0 21.0 over 2.0m

COM-10-476A 2487.5 E 146.6 147.3 0.7 5.5 6.8 g/t Au

147.3 148.3 1.0 0.5 over 2.8m

148.3 149.4 1.1 13.4 13.4 g/t Au over 1.1m

231.4 232.7 1.3 0.3 5.9 g/t Au

232.7 233.7 1.0 13.5 13.5 g/t Au over 1.0m over 2.9m

233.7 234.3 0.6 5.2

COM-10-479 2437.5 E 126.0 127.0 1.0 0.9 3.2 g/t Au

127.0 127.5 0.5 12.1 12.1 g/t Au over 0.5m over 2.5m

127.5 128.5 1.0 1.2

COM-10-486 2412.5 E 199.6 201.0 1.4 4.1 3.4 g/t Au

Drill Hole Section From(m)

To(m)

Corelength

Gold(g/t Au)

High grade interval Weighted average

201.0 202.0 1.0 2.6 over 2.4m

202.0 203.0 1.0 3.4

203.0 204.0 1.0 3.0 4.5 g/t Au

204.0 205.0 1.0 6.0 over 2.0m

205.0 206.0 1.0 2.1 4.4 g/t Au

206.0 207.0 1.0 0.7 over 13.4m

207.0 208.0 1.0 21.6 12.8 g/t Au

208.0 209.0 1.0 4.0 over 2.0m

209.0 210.0 1.0 2.1

210.0 211.0 1.0 3.2

211.0 212.0 1.0 2.9

212.0 213.0 1.0 1.5

COM-10-493 2537.5 E 91.7 93.0 1.3 8.1 6.2 g/t Au

93.0 94.5 1.5 0.3 over 4.3m

94.5 96.0 1.5 10.6 10.6 g/t Au over 1.5m

East of Osborne Area

COM-10-474 2700 E 103.5 104.2 0.7 11.7 11.7 g/t Au over 0.7m 4.2 g/t Au

104.2 105.5 1.3 0.1 over 2.0m

Camten Area

COM-10-491 2900 E 84.7 86.0 1.3 45.7 45.7 g/t Au over 1.3m 25.9 g/t Au

86.0 87.0 1.0 0.2 over 2.3m

Gold grades (g/t Au) are expressed uncut and over core length.

In most cases, core length and true width are close to being the same given the dip of the drill hole and the strike and dip of themineralized zone.

Identification of the mineralized zone is based on a preliminary interpretation using plan and cross-sectional representations.

Values were rounded at 1 decimal point.

Figure 1. – Osbell schematic 3D view with new drilling results

Figure 2. – Osbell Plan View January 2011