Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

November 12, 2014 09:30 ET

Marifil Mines Limited Announces Closing of Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2014) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") is pleased to report that it has completed and closed its previously announced private placement consisting of 6,600,000 units (the "Units") at $0.02 per Unit for gross proceeds of $132,000 subject to final Exchange approval, effective October 31, 2014. Each Unit consists of one common share of the Company and one common share purchase warrant exercisable at $0.05 per share for 24 months and at $0.10 per share for 36 months thereafter. All of the securities issued will be subject to a statutory hold period expiring on March 1, 2015.

The proceeds from the private placement will be used for audit, legal, property maintenance, general working capital and due diligence costs related to pending asset sales and/or joint ventures.

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.

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