Marifil Mines Ltd.

Marifil Mines Ltd.

March 23, 2006 15:22 ET

Marifil Announces Non-Brokered Private Placement

SPOKANE, WASHINGTON--(CCNMatthews - March 23, 2006) - MARIFIL MINES LTD. (TSX VENTURE:MFM) announces it has arranged a non-brokered private placement of 2 million units at a price of C$0.30 per unit. Each unit will comprise one Common Share and one-half Warrant. The shares will have a four month hold period. One full Warrant can be used to purchase a second Common Share at a price of $0.40 for a period of one year.

No finders' fees are payable in connection with this transaction. Proceeds from the placement will be used for general working capital.

The above is subject to regulatory approval.

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

Contact Information

  • Marifil Mines Ltd.
    John B. Hite
    (509) 466-1505
    Marifil Mines Ltd.
    Greg W. Taylor
    Investor Relations
    (905) 337-8475