Minefinders Corporation Ltd.

Minefinders Corporation Ltd.

December 15, 2009 13:46 ET

Minefinders Consolidates La Virginia District in Sonora-Drilling Planned in Early 2010

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) is pleased to report the consolidation of all mineral rights and surface rights necessary to drill and test the La Virginia gold/silver district in Sonora, Mexico. The Company has staked mineral rights over more than 32,000 hectares of land and has also optioned an additional 2,100 hectares of mineral rights. More than 2,500 hectares of surface rights covering the main target areas have been leased allowing for exploration and exploitation within the district. Consolidation of these holdings allows Minefinders to test mineralized targets within the historically producing district and explore additional targets from within the overall land package.

Interest in the La Virginia gold/silver district was generated during the Company's 2007 helicopter reconnaissance program in which the Company located workings and preliminarily sampled the district to determine overall economic potential. Favorable results and recognition of a geologic setting very similar to that of the Company's Dolores deposit, located 100 kilometers to the southeast in Chihuahua State, led to the effort to consolidate the district.

Significant sample results from the main La Virginia District are provided below:

La Virginia Significant Sample Results – Main District
Sample # Width
Gold gpt Silver gpt AuEq1 Grade
MJT-07-116 - 5.04 257 9.32 dump
MJT-07-108 - 5.35 635 15.93 dump
LAV-AR-19 2.0 9.12 546 18.22 chip-channel
MJT-07-108 1.0 5.67 3 5.73 chip-channel
LAV-WJO-54 2.0 4.39 173 7.27 chip-channel
MJT-07-102 2.0 1.87 95 3.46 chip-channel
LAV-WJO-35 - 12.34 1,225 32.8 dump
LAV-WJO-60 5.0 3.70 108 5.50 chip-channel
MJT-07-105 - 5.91 196 9.18 dump
MJT-07-101 2.0 6.71 311 11.89 chip-channel
BM-07-85 - 3.69 323 9.07 dump
BM-07-86 1.0 3.87 284 8.60 chip-channel
LAV-WJO-14 2.0 3.09 291 7.94 chip-channel
LAV-AS-18 - 7.27 747 19.72 dump
BM-07-93 - 16.85 1,530 62.07 dump
LAV-AS-02 - 5.62 513 14.17 dump
BM-07-91 - 3.36 361 9.38 dump

1 a silver to gold value ratio of 60 to 1 is used to calculate AuEq

Gold-silver mineralization occurs within steeply-dipping stockworks and vein zones that were only sporadically mined in shallow pits at surface and through short adits. Both dump samples and chip-channel samples from workings within the main district suggest a strongly mineralized gold-silver system. Vein and stockwork zones have also been located along a strikelength of several kilometers both north and south of the central district. More than 400 samples have been taken throughout the region and several additional target areas outside of the main district have been identified.

The La Virginia District has never been drilled and contains untested targets. Sample results suggest a stockwork/vein system containing high grades of gold and silver over more than a kilometer of strikelength. Multiple mineralized structures occur within the district and additional potential for bulk-tonnage stockwork deposits also exist.

The gold-silver system at La Virginia occurs within the same geologic environment and setting as the Company's Dolores gold and silver mine. Mineralization at both occurs as quartz-calcite stockworks containing iron-oxides and sulphides associated with latitic dikes found within a thick sequence of andesitic flows and tuffs. At Dolores the mineralized system persists to a depth of more than 700 meters from surface, and along a strikelength that exceeds 4 kilometers. Drilling planned for 2010 will investigate overall potentials at depth and along strike within the main La Virginia district as additional target development and delineation work is accomplished throughout the Company's land holdings in the area.

Quality Control and Assurance

All analyses reported are fire assay analyses for gold and multi-acid digestion with AA analyses or fire assay analyses for silver, and completed by either Chemex Labs of Vancouver, British Columbia, or Inspectorate Labs of Sparks, Nevada. Samples reported in this news release were comprised of either rock chips found within mine dumps or from continuous chip-channel sampling as indicated in the table above. All samples were transported to sample preparatory facilities in Hermosillo, Mexico (Chemex) or Durango, Mexico (Inspectorate) prior to analysis.

Mr. Mark Bailey MSc., P.Geo. is the "qualified person" with overall responsibility for the La Virginia Project and is responsible for the contents of this news release.

About Minefinders

Minefinders is a precious metals mining and exploration company and operates the multi-million ounce Dolores gold and silver mine in Mexico. The Company continues its exploration efforts on other prospective projects in Mexico to build a quality pipeline of precious metals projects for future growth.

This release contains certain "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "continue" or similar terminology. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by Minefinders are forward-looking and subject to important risk factors and uncertainties, both known and unknown, many of which are beyond the Company's ability to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Those factors are described or referred to under the heading "Risk Factors" of Minefinders' Annual Information Form for the year ended December 31, 2008 and under the heading "Risks and Uncertainties" of Minefinders' Management's Discussion and Analysis for the year ended December 31, 2008 and quarter ended September 30, 2009, all of which are incorporated by reference herein and are available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

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