Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

February 20, 2007 07:00 ET

Marifil Cuts More Strong Gold Values Near High Grade Indium Find at San Roque

Drilling Planned on Several Targets

SPOKANE, WASHINGTON--(CCNMatthews - Feb. 20, 2007) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces results from Phase II trench sampling on its wholly-owned San Roque indium & gold-silver project. The northern most trench in Phase II on Target 1(i) cut three parallel zones in silicified breccia, including 6.0 meters (m) grading 3.21 grams per tonne (g/t) gold and 26.8 g/t silver; 3.0 m grading 12.7 g/t gold; 3.0 m grading 12.7 g/t gold and less than 0.5 g/t silver; and 3.0 m grading 3.94 g/t gold and 0.7 g/t silver. This work has extended mineralization in the zone by another 200 m.

Most Phase II gold and silver assays have been received but Indium assays are in progress.

Having completed 52 trenches (1,508.2 m) and collected 765 samples, the Company has identified five important drill targets thus far, including the Del Indio breccia, which contains high grade indium along with gold (see News Release dated Feb 15, 2007). The Company plans to drill these targets as soon as a drill can be obtained.

The San Roque property comprises approximately 12,705 hectares and is located 56 kilometers east of San Antonio Oeste, a port on the Atlantic coast, in Rio Negro Province, Argentina.

(i)Target 1 - The Las Minitas target area contains three sub-parallel, NE-striking gold-bearing structures, the Del Indio vein, the Escondida vein, and the El Relincho vein.

Trenching over the Del Indio vein in a large brecciated area ( greater than 500 m by up to 1.8 m (average 0.8 m)) produced samples including (#6489) with 14,883 g/t of indium ("In") with 2.64 g/t gold over 1.5 meters and (#6483) with 12.37 g/t Au with 289 g/t In over 0.7 meters. The weighted average grade of indium in this structure is 2,017 g/t, which is equivalent to a value of $1,452 per ton. The weighted average gold grade is 2.16 g/t, equivalent to about $45 per ton.

Mineralization cut in these trenches comprises quartz veins and silicified breccias containing occasional specks of visible gold, iron oxides, and copper oxides. The vein appears to be increasing in width and gold content to the north.

The Escondida vein measures 1.5 to 2.0 m wide and 100 m in length. No significant gold values were cut in this vein, although good values were found in float samples.

The El Relincho vein measures 4.0 m wide and 300 m in length. In Phase I, gold values ranged from 0.27 to 2.29 g/t gold. In Phase II Trench 19 cut 2.3 m grading 3.37 g/t gold including 1.2 m at 4.83 g/t gold and Trench 20 cut 1.0 m at 1.68 g/t gold. The vein is cut off by a fault at the southwest end.

Target 2 - The Los Tortugas target area contains three sub parallel, NW-striking gold-bearing structures called the San Roque, San Antonio, and San Juan structures. Each of these structures contain zones of silicified breccias cut by stockwork quartz veinlets stained by iron oxides.

The San Roque structure is a wedge-shaped structure up to 22m thick and 250 m in length. The structure either pinches out or is faulted and offset on its SE end and could be up to 400 m in length. Trench 10 cut a zone 9.0 m wide grading 4.25 g/t gold and 35.8 g/t silver including 1.0 m at 11.04 g/t gold and 56.2 g/t silver in. Trench 11 cut 8.0 m grading 1.57 g/t gold and 5.5 g/t silver. Trench 13 cut 6.0 m grading 1.81 g/t gold and 5.8 g/t silver and, in a parallel zone cut 5 m grading 5.82 g/t gold (high silver assays are pending). Trench 15 cut 4.0 m grading 31.86 g/t gold including 1.7 m. grading 56.8 g/t gold with weak silver values.

The San Antonio structure presents a bulk tonnage target. The structure is 500 m long and 25 m in width. Gold values are generally less than 1.5 g/t, but surface samples here range up to 10.32 g/t gold.

The San Juan structure contains two parallel zones cut in Trenches 4 and 9. The structure is 100 m long and up to 12 m wide. Trench 4 cut 12.0 m grading 4.71 g/t gold including 4.0 m grading 12.3 g/t gold. The San Juan structure may be a fault offset continuation of the San Roque structure.

Target 3 area includes the Trahuil and Sandaje 7 structures. Trench 4 cut 4.9 m grading 2.24 g/t gold plus 1.0 m grading 2.19 g/t gold in the Trahuil structure. This structure is approximately 150 m in length and about 1.0 m wide.

Target 4 (Porphyry Zone) is a N-W striking structure approximately 500 m in length, about 2.5 m in width, and is located along a contact between a fine-grained silicic tuff and a porphyritic rhyolite. Surface samples along the structure returned values of 4.79, 11.61, 5.85, and 2.39 g/t gold respectively but the maximum value in trenches is 3.0 m grading 1.22 g/t gold.

Target 5 - The Morada structure is 500 m long and up to 6 m wide. Notable results include Trench 4 which cut 3.5 m grading 6.88 g/t gold including 1.0 m at 17.8 g/t gold and Trench 5 which cut 3.0 m grading 7.96 g/t gold including 1.0 m at 18 g/t gold.

The oldest rocks on the property are green schist facies metamorphics of Upper Proterozoic age overlain by the Marifil Volcanic Group of Lower to Middle Jurassic age. These rocks include pyroclastics, volcanic breccias, and pyroclastic flows. Mineralization in the San Roque area is influenced by a major NW-SE striking regional fault or shear zone. Higher gold values are associated with sub parallel NW-SE striking quartz veins and silicified breccias although gold plus indium is present in NE-striking structures.

Mr. John Hite, President of Marifil notes, "Above and beyond the highly exciting indium we have found, all of the gold-bearing structures are surrounded by haloes of lower grade gold which suggests that we may have some bulk tonnage targets. This will likely require more extensive sampling for us to satisfactorily estimate of the actual grade."

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.

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available 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.

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