Marifil Mines Ltd.

TSX VENTURE : MFM


Marifil Mines Ltd.

January 22, 2013 09:30 ET

Marifil Identifies High Gold Recoveries in Oxide Gold Tests

Receives Favourable Results from Cyanide Leach Tests in Zone 34 San Roque Property, Argentina

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2013) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces it has received preliminary results from bottle roll cyanide recovery tests from the Zone 34 oxide gold target at the San Roque Project, Rio Negro Province, Argentina.

Marifil submitted composite drill core samples from three holes to the Alex Steward Argentina S.A. laboratory for testing. The purpose of these tests was to determine the amenability of the oxide mineralization to heap leach gold extraction. The tests were highly successful and the Company intends to move forward with further testing and drilling of this gold deposit. Table 1 shows the results of these tests.

Table 1
Composite ID Drill Hole Samples Number of samples
MC-1-2 DDHSR 34 (Nova) 8314-15-16-17-18-20-
21-22-23-25-26-27-28-
29-30-32-33
17
MC-3 DDH 17 (Marifil) 9120-21-22-23-24-25-
26-27-28-29-30-31-32-
33
14
MC-4 DDH 20 (Marifil) 9218-19-20-21-22-23-
24-25
8

The laboratory carried out metallic screen assays to determine if coarse gold was present. The assays of the three composites plus one duplicate sample show that 95% of the gold reports to the -140 mesh fraction. This is important because fine-grained gold leaches more readily than coarse-grained gold.

The bottle roll tests were carried out at a pH of 11.2. The results for the 96 hour leach were 92.43%, 85.28%, and 95.14% recoveries of gold respectively. Graph 1 below shows the results for grade vs time for gold.

To view "Graph 1", please visit the following link: http://media3.marketwire.com/docs/MFMfig.pdf.

Silver recoveries were lower than expected, however this is typical for heap leach operations. Silver accounts for less than 20% of the dollar value of the deposit.

The Company is pleased with these preliminary results from San Roque. We look forward to conducting further testing on the property.

On Behalf of the Board of Directors,

John Hite, President

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).

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

General Disclaimer

Marifil Mines Ltd. "Marifil", has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. 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 does not accept responsibility for the adequacy or accuracy of this release.

Contact Information