The Company is pleased to announce it plans to focus on its Hislop, Ontario properties in Canada, and has thus dropped the option that it held from Mhakari Gold Corp. on the Deloro ("Golden Porcupine") property at Timmins. Whereas Mexivada found quartz-sulfide veining of interest at the surface on the Golden Porcupine property, these results were not confirmed by drilling at depth, where only lower gold values were found, up to approximately 1 gram per tonne gold across narrow widths, insufficient for mining development under today's gold prices.

Mexivada has not received payment nor notice from Zamarat Mining Ltd. regarding exercise of the option Zamarat held on the Congo properties it held, and thus said option has expired. The Permis des Recherches that were held by the parties have not yet been renewed by the Government of the Congo.

Mexivada is very pleased to focus its Canadian efforts on its properties in Hislop Township near Matheson. Mexivada completed four drill holes on the "Pete" property, discovering new, previously unreported zones of gold mineralization. Not all of these assays have been received, and Mexivada will report further on these after receipt and analysis of said assays.

About Mexivada Mining Corp.

Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, joint venturing, and mining high-grade Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and Canada. Mexivada is managed by experienced and successful board members and advisors. The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information herein, and evaluated the interpretations contained in this news release. For further information, please visit our web site at or contact us by e-mail at info@mexivada.com.

The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information contained in this news release.

On behalf of the Board of Directors,
Richard R. Redfern
President & CEO
Mexivada Mining Corp.

Caution Concerning Forward-Looking Statements

This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:
Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
info@mexivada.com
distribué par

Ce noodl a été diffusé par Mexivada Mining Corp. et initialement mise en ligne sur le site http://www.mexivada.com. La version originale est disponible ici.

Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-06 03:57:40 AM et restera accessible depuis ce lien permanent.

Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité.