Mansfield Minerals Inc.
TSX VENTURE : MDR

Mansfield Minerals Inc.

February 03, 2011 13:03 ET

Mansfield Discovers Gold Copper Porphyry System

Lindero Project - Arizaro Prospect - Argentina

DDH ARD-5: 162m @ 0.5 g/t Au and 0.16% Cu

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 3, 2011) - Mansfield Minerals Inc. (the "Company") (TSX VENTURE:MDR) is pleased to announce the discovery of a porphyry gold - copper gold system while completing a 2,000 metre condemnation drill program on its 100% owned Lindero gold project in Northwestern Argentina. The Arizaro gold–copper porphyry is located 3 km southeast of the Lindero gold deposit. Significant copper-gold mineralization was encountered in five of the six holes that were drilled.

Arizaro Drill Results
Drill Hole # Interval Length Gold (g/t) Copper (%)
ARD 3 10 - 34 m 24 m 0.70 0.36
ARD 4 0 - 184 m 184 m 0.42 0.17
ARD 5 0 – 268 m
incl. 84 – 246 m
incl. 110 – 154 m
incl. 130 – 148 m
268 m
162 m
44 m
18 m
0.38
0.50
0.93
1.44
0.17
0.16
0.28
0.36
ARD 6     NSV NSV
ARD 7 0 – 206 m
incl. 0 – 54 m
incl. 44 – 54 m
incl. 74 – 96 m
incl. 124 – 146 m
incl. 190 – 206 m
206 m
54 m
10 m
22 m
22 m
16 m
0.30
0.33
0.75
0.39
0.45
0.54
0.15
0.26
0.37
0.18
0.20
0.12
ARD 8 24 - 36 m 12 m 0.64 0.24

Arizaro Background

The Arizaro porphyry body was identified prior to the discovery of the Lindero gold deposit in 1999. Management initially believed that the surface alteration zone reflected a more deeply eroded porphyry system with geologic similarities to the nearby Rio Grande property. During a field traverse in late 2010, a well mineralized copper-gold breccia fragment was discovered in an otherwise un-mineralized fragmental body. The mineralized fragment was interpreted to be sourced from a mineralized system at depth.

Discussion of Drill Results

Hole ARD-5 encountered an intercept of 162 metres grading 0.50 g/t gold and 0.16% copper with a sub-interval grading 0.93 g/t gold and 0.28% copper over 44 metres. The higher grade interval is believed to part of a higher grade feeder zone. The copper mineralization identified in Hole ARD-7 is a mix of bornite and chalcopyrite.

Given the proximity of Arizaro to Rio Grande, the Company will continue to evaluate Arizaro with a minimum of 3,000 metres of drilling to commence shortly.

Lindero Update

The Company is currently 80% complete on its bankable feasibility study at Lindero. In early November 2010, the Company submitted a global mining permit with the provincial mining ministry which is progressing through the appropriate channels with final approval expected in Q2/2011.

This news release has been reviewed by Gordon P. Leask, P.Eng., President of the Company, and a Qualified Person ("QP") as defined by National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

ON BEHALF OF THE BOARD OF DIRECTORS,

Gordon P. Leask, P. Eng., President

Security – Chain of Custody and Quality Control

The Company has implemented a quality assurance (QA) and quality control (QC) program to ensure the reliability of all litho-geochemical sampling and analysis of both surface samples and drill samples from all of its projects. All samples are shipped directly to Alex Stewart International LLC, a certified laboratory sample prep facility in Mendoza, in sealed bags with unique Mansfield identification numbers. Analyses were executed using fire assay and multi-element ICP. Samples are prepared and analyzed only at internationally certified labs (e.g., international standards ISO 9001:2000 and ISO 17025:1999), which control their data quality with the use of reagent blanks, reference materials, and replicates. All lab control results pertinent to the Company, such as standards, blanks, and duplicates must be reported to Mansfield. In addition, Mansfield independently inserts certified control standards, coarse field blanks, sample checks and duplicates into the sample stream to monitor data quality. These standards are inserted "blindly" into the sample sequence and delivered to the laboratory. Mansfield knows the values that should be determined for these standard samples, but the laboratory does not, and the standards act as an independent test of the laboratory's accuracy of analysis. Mansfield inserts a minimum of 5% control samples in all sample batches and 10% control samples for drilling samples. The results of all data quality controls are carefully reviewed prior to the public release of any data.

Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. Investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. 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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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