Marifil Mines Ltd.

Marifil Mines Ltd.

March 30, 2005 09:30 ET

Marifil Mines Ltd. Collects 2,250 Gram per Tonne (65 Ounce per Ton) Gold Sample from its Amarillo Property, Argentina


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MARIFIL MINES LTD.

TSX VENTURE SYMBOL: MFM

MARCH 30, 2005 - 09:30 ET

Marifil Mines Ltd. Collects 2,250 Gram per Tonne (65
Ounce per Ton) Gold Sample from its Amarillo Property,
Argentina

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2005) - Marifil
Mines Ltd. (TSX VENTURE:MFM) ("Marifil") announces that a sample of the
Filo Amarillo high grade vein system returned a value of 2,251 g/t gold
(65.28 ounces per ton) from a 0.1m vein. A repeat analysis of this
sample assays 2,278.7 g/t gold (66.08 ounces per ton). The full
significance of this sample remains to be assessed because it represents
one of several similar veins. Prior samples collected from this same
zone have returned as much as 372 g/t gold over a width of 2.0m. This
mineralization is part of a vuggy silica-filled shear zone containing 66
g/t gold over a width of 14 meters. The strike and dimensions of this
zone are uncertain because of frost heave and slumping on the steep
slope.

The Amarillo copper-gold project, located within the Veladero - El Indio
gold belt, lies approximately 175 kilometers northwest of the city of
San Juan, Argentina. The Veladero - El Indio gold belt is host to a
number of large precious metal deposits, including Barrick's Veladero
and Pascua Llama deposits, which together comprise one of the world's
largest gold resources.

Marifil's property contains more than 20 square kilometers of intensely
altered sedimentary, volcanic, and intrusive rocks that represent the
upper levels of two or more large hydrothermal systems. Parts of the
system closely resemble gold rich, high sulphur epithermal systems such
as El Indio Other parts of the system more closely resemble the
alteration caps and intrusive bodies overlying porphyry copper deposits,
such as the Disputada copper deposit in Chile.

The Amarillo property was the site of two exploration campaigns in the
period 1993-1998 but only a small portion of this huge hydrothermal
system was systematically explored for gold and little, if any,
exploration was focused on porphyry copper potential.

In 1994-95 Minera Argentina Gold S.A. (MAGSA) conducted an exploration
program on the Amarillo property culminating in the discovery of the
Filo Amarillo gold-bearing shear and vein system grading 372 g/t gold
over a 2.0 meter width and 66.81 g/t gold over 14m in Trench 12. Nearby
areas identified include 9.4m. at 7.26 g/t gold in Trench 12 A, and 9.1m
with 3.87 g/t gold in Trench 12E. DDH-1 tested the T12C target, and
between 10.67m and 16.67m cut 6.0m grading 22.30 g/t gold. DDH-2 tested
the T12 target and intercepted 4.43m grading 3.93 g/t gold at a depth of
21.7m. Some of the core recovery was poor. Subsequent rotary drilling by
WMC in 1995-1997 failed to cut significant gold values but did cut
significantly high copper values.

MAGSA's trenching effort disclosed a number of important copper gold
anomalies centered on Cerro Morro and Cerro Esperanza, both located
about three kilometers south of the Filo Amarillo gold target. Here,
trenching reveals a large number of gold-bearing enargite veins and
veinlets. One of the better values reported is 1.5m grading 14.7 g/t
gold, 67 g/t silver, and 13.10% copper.

Significantly, the best copper and gold values around the crest of Cerro
Esperanza were never drilled. Similarly, a 200m diameter hydrothermal
breccia pipe which crops out 500m west of Cerro Esperanza was not
sampled or drilled.

Marifil Mines has mobilized a bulldozer to the Amarillo property and
initiated a program of geological mapping, trenching, and sampling. The
focus of the program will be to better define the zones of gold
mineralization with detailed mapping and sampling of the bonanza gold
zones centered on Filo Amarillo.

Marifil also intends to evaluate the deeper porphyry copper-gold
potential under Cerro Esperanza and Cerro Morro.

This press release has been reviewed and approved by John B. Hite,
P.Geo, President of Marifil Mines Ltd. and a Qualified Person as defined
by National Instrument 43-101, under whose direction the exploration
programs are being carried out.

Marifil Mines Ltd. is a Canadian resource exploration company with a
aggressive strategy, focused on exploring for precious and base metals
in Argentina. Visit our website at www.marifilmines.com for the latest
corporate information.

Marifil Mines Inc.

John Hite, President

Standard & Poor's Listed

Issued Share Capital: 18,332.931

Fully Diluted Share Capital: 21,322,892

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Marifil Mines Inc.
    Clive Massey
    Investor Relations
    (604) 662-3903
    (604) 331-1800 (FAX)
    info@Marifilmines.com
    www.marifilmines.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.