Coniagas Resources Limited: Coniagas Resources Limited: Cyr Lithium Prospect, Quebec, Diamond Drilling Update

TORONTO, ONTARIO--(Marketwire - Feb. 9, 2009) - Coniagas Resources Limited ("Coniagas" or the "Company") (TSX VENTURE:CNY) is pleased to report on the late 2008 field program on its Cyr-Lithium Property. The program included 18 diamond drill holes for a total of 1,087 metres and on average the intercepts were in pegmatite 29% of the time (3%-71%) and the best intercept was 2.04% Li2O over 7.5 metres true width. The holes were drilled at approximately 100 metre spacing as best that the terrain would allow. Detailed results are given in the attached table.

The Cyr-Lithium property is located in the west-central part of Township No. 2312 in Northwestern Quebec. It is 2 kilometres south of the Eastmain River and 100 kilometres east of James Bay. The property is readily accessible by paved road as the highway cuts through the property close to road marker kilometre 384. There is a major high voltage power line close to the property following the paved highway.

The purpose of the program was to confirm historical drilling results from a program conducted in the 1970's on the CYR prospect by Societe de Developpement de la Baie James ("SDBJ").

The attached drilling results table has confirmed the presence of Lithium in outcropping spodumene dykes with significant grades, as reported in the November 20, 2008, report by James McCann, P.Geo "The Cyr-Lithium property hosts a very large potential for Lithium". A GPS mapping program to be followed by Phase 2 diamond drilling program is recommended to delineate an accurate resource tonnage.

Coniagas has, subject to regulatory approval, agreed to sell up to 12 million units, consisting of one share at $0.15 and a two year warrant, entitling the unit holder the right to purchase one additional share at $0.25 per share, to a group of qualified investors. Closing of the transaction will occur as soon as regulatory approvals are received.

This press release has been reviewed by Geoffrey S. Carter, P. Eng., in his personal capacity as qualified persons under guidelines of NI 43-101.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.


 Major Dyke Assay Results (Li2O %)
 (McCann Geosciences November 2008 Report)

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Hole # Major (Li2O %/ m) (Li2O %) (Li2O %) DykeDip
 Dyke # Average Intercept (m) True width degrees
 (interpreted)
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CL08-01 5.2 1.48 29.50-37.30 3.8 m 60 W
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CL08-02 5.4 1.42 46.75-47.25 0.3 m 68 W
 1.72 56.63-60.63 1.8 m
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CL08-04 7.2 1.40 0.50-13.30 greater than 8 m 52 W
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CL08-05 7.2 1.38 7.06-21.84 greater than 8.7 m 58 W
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CL08-06 6.2 0.43 28.35-31.14 1.0 m 61 W
 0.32 36.46-39.31 1.9 m
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CL08-07 7.4 1.37 4.10-16.60 5.6 m 64 W
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CL08-08 7.5 1.49 4.43-24.91 11.0 m 61 W
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" " 7.4 1.34 29.92-31.84 5.0 m 61 W
 1.21 46.98-51.22 2.0 m
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CL08-09 8.3 1.20 0.00-8.28 greater than 5 m 70 W
 IAI 10.48-14.05 1.8 m
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CL08-10 8.3 1.56 0.10-5.35 greater than 2.5 m 70 W
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CL08-11 8.5 1.90 14.12-19.00 2.5 m 52 W
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CL08-12 8.5 1.55 33.20-44.89 8.3 m 52 W
 1.71 48.24-52.71 3.0 m
 or
 1.32 33.20-52.71 13.0 m
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CL08-14 9.2 1.47 0.15-9.15 greater than 6 m 62 W
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CL08-15 10.1 1.69 0.00-11.85 greater than 4 m 77 W
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CL08-16 10.3 1.89 0.00-8.93 greater than 6 m 58 W
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CL08-17 11 1.74 0.00-23.68 greater than 4.0 m 52 W
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CL08-18 8.7 1.69 18.21-38.60 18.0 m 70 W
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" " 8.6 1.97 50.62-62.86 0.5 m 70 W
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" " 8.4 or 8.5 2.04 96.27-100.68 7.5 m 53 W
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Coniagas Resources Limited: Coniagas Resources Limited: Cyr Lithium Prospect, Quebec, Diamond Drilling Update