SOURCE: Marifil Mines Ltd.

Marilfil Mines Ltd.

August 10, 2016 13:49 ET

Marifil Mines Ltd. Announces Closure of Non-Brokered Private Placement

VANCOUVER, BC--(Marketwired - August 10, 2016) - Marifil Mines Limited (TSX VENTURE: MFM) ("Marifil" or the "Company") is pleased to announce that it has completed and closed the previously announced private placement, consisting of 6,996,800 units (the "Units") at $0.015 per unit for gross proceeds of $104,952 subject to final Exchange approval. Each unit consists of one common share of the Company and one common share purchase warrant exercisable at a price of $0.05 per share for the first 24 months from the date of issuance and $0.10 for the next 36 months. All units issued are subject to a four-month hold period ending on December 8, 2016.

Proceeds from the placement will be used for audit, legal, property maintenance, general working capital, and due diligence costs related to the potential sale of properties.

On Behalf of the Board of Directors,

John Hite, President

For further information regarding Marifil Mines Limited, please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com).

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