No it is believed that the strange circles are being caused by "giant, natural electrochemical cells — big centres of negative charges called reduced chimneys — that are frequently situated over metal or mineral deposits, or methane." It seems finding the circles gives clues that there something worth digging for, possible metal, minerals or more important alternative fuel in the form of methane. With the cost of oil going up alternative fuels are going to be even more valuable resources so I guess it is a good thing someone figured out that the rings may mean dig here. I found the article on the Mysterious Rings Found In Canadian Forests on the CBC web site. It is interesting but I pulled some of the pictures and info for a quick overview. The article is still worth reading though.
Rings in farmer's fields in Southern Ontario's Essex County, a few kilometres from the Michigan border, formed by oil deposits. (Courtesy Ontario MNR)
The Cheecka Ring is a ring measuring about 1 kilometre in diameter, located 20 km east of Hearst, Ont. Scientists believe it was formed by a natural gas deposit. (Courtesy S. Hamilton, OGS)
The R2 Ring is a 300-metre wide ring located about 40 kilometres south of Hearst, Ont. The geological source of the ring is unknown, but its shape can be clearly seen in this aerial photograph of the forest. (Courtesy S. Hamilton, OGS)