Marifil Mines Ltd.

Marifil Mines Ltd.

July 21, 2011 09:00 ET

Marifil Receives Second Payment of $150,000 for K-3 Potash Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2011) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that Saccharum Energy Corp. (Saccharum) has sent the Company $150,000 as payment for the pending agreement for the K-3 potash property in Mendoza Province, Argentina.

A second payment of $150,000 for the K-4 property will be placed in escrow and released to Marifil once Saccharum receives evidence that the claims (cateos) have been duly registered to Marifil by the Mines Department of the Province of Mendoza.

Marifil and Saccharum believe that all of the legal issues are close to being resolved and that a final, comprehensive joint venture agreement will be signed, possibly within the next few days.

Mr. Johannes Kingma, President of Saccharum Energy Inc. states, "We are highly encouraged by the quality of this project and are planning an aggressive exploration program including drilling three core holes around discovery hole Md Rbi x-2 which cut 4.5 meters grading 20 to 22% K2O at a shallow depth of 221.5 meters."

Mr. John Hite reports, "Marifil is now in a strong financial position with more than $1 million of income this year and with partners who will be spending millions of dollars on our projects. This year we expect our partners will be drilling our San Roque, Toruel and Catamarca projects.

We are now focusing on replenishing our pipeline of new projects including a copper project, a gold project, and a phosphate project."

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. Walters is a Qualified Person as defined by National Instrument 43-101.


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