Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

April 23, 2010 11:57 ET

Marifil Regains 100% Interest in Its Las Aguilas Copper-Nickel-PGE Property, Argentina

Marifil Seeking JV Partner for Largest Nickel-Platinum Resource in Argentina

SPOKANE, WASHINGTON--(Marketwire - April 23, 2010) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil") announces that Castillian Resources Corp. has terminated its agreement with Marifil (see News Release April 20, 2010) and provided the Company with a NI 43-101 report on the property.

Marifil once again controls 100% of the "Las Aguilas" property located in the San Luis province of Argentina. Las Aguilas is part of Marifil's 55,000 hectare San Luis Nickel-Copper-Platinum Project. To date more than US$13 million has been spent exploring the San Luis project.

Nickel and platinum prices are on the rise and the Company believes this project could be quickly developed into an open-pit and underground mine. Preliminary metallurgical test work is quite favorable.

The Company is looking for a partner to either buy the project or come in as a Joint Venture partner and Operator.

Marifil's Las Aguilas deposit contains an historical resource of 2.2 million tonnes grading about 0.52% nickel, 0.50% copper, 0.04% cobalt and significant amounts of platinum (this is not a National Instrument 43-101 compliant reserve and investors should not rely on this estimate). This resource was determined by Direccion General de Fabricaciones Militares ("DGFM") (Argentina Geological Survey), which carried out almost 10,000 meters of diamond drilling between 1970 and 1984. Marifil believes this resource to be relevant to the extent that it shows that significant quantities of disseminated to semi-massive pyrrhotite, pentlandite and chalcopyrite (ores of copper, nickel, cobalt and platinum) are present and constitute a valid exploration target.

Castillian drilled 12,857 m in 78 drill holes. This work substantially expanded the historic resource. The Company is now reviewing this new information and plans to produce an NI 43-101 compliant ore resource report this year.

Mineralization comprises pentlandite (an ore of nickel), chalcopyrite (an ore of copper) and pyrrhotite (an iron sulfide) along with significant amounts of platinum group elements (PGE's) and minor amounts of cobalt and gold. Mineralization is found in two layered ultramafic intrusions: Las Aguilas East and Las Aguilas West.

The Las Aguilas East deposit is lensoidal in shape and plunges at 40o to 45o to the southeast. The deposit is not only open-ended at depth but also appears to be increasing in size and grade with depth. The known vertical extent of the deposit is nearly 275 m.

The Las Aguilas West deposit is hosted in a mafic intrusion that can be followed for 500 m along strike. The deposit trends N20o E with sub vertical dips. Mineralization has now been traced for 500 m along strike and to a depth of nearly 250 m. The deposit is still open ended at depth and to a lesser extent along strike.

Other prospects known to occur along this 80 km belt include the Virorco, Fierro, and EF-2 prospects as well as a number of untested geophysical and geochemical targets.

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. under whose direction the exploration program is being carried out. Mr. Hite is a Qualified Person as defined by National Instrument 43-101.

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.

For further information regarding Marifil Mines Ltd., please refer to the Company's filings on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

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