Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

July 20, 2011 09:00 ET

Marifil Reports Significant Gold-Silver-In-Pb-Zn Drill Intercepts at San Roque

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 20, 2011) - Marifil Mines Ltd. (TSX VENTURE:MFM) -

- 120.0 meters grading 3.06 g/t gold equivalent (Drill hole MSR-0009)
- 144.5 meters grading 1.73 g/t gold equivalent (Drill hole MSR-0013)

MARIFIL MINES LTD. ("Marifil" or "the Company") announces drill results from the NovaGold Resources Inc.'s ("NovaGold") Phase I drill program at the San Roque project, Rio Negro Province, Argentina.

Visit this link for a news summary of this press release: http://www.investmentpitch.com/media/956/Marifil_Mines_Ltd._TSXV:_MFM_News_Alert/.

Significant intercepts are shown in Table 1 below:

Table 1. San Roque Significant Drill Intervals - Phase I
total Au Ag In Pb Zn AuEq AuEq gpt
from to meters gpt gpt gpt % % gpt x meters
DDHMSR-0002 37.0 58.5 21.5 0.43 17.1 4.2 0.35 0.45 1.22 26.2
98.0 133.0 35.0 0.51 15.9 10.0 0.38 0.60 1.44 50.4
167.0 171.0 4.0 2.30 84.3 0.1 0.09 0.21 4.14 16.6
3 intervals 60.5 0.60 20.8 7.3 0.35 0.52 1.54 93.2
DDHMSR-0003 25.0 51.0 26.0 0.63 9.0 4.45 0.16 0.22 1.05 27.3
102.0 139.0 37.0 0.21 18.8 14.5 0.37 0.47 1.17 43.5
186.0 205.0 19.0 0.15 42.7 52.4 0.97 0.65 2.42 46.1
3 intervals 82.0 0.33 21.2 20.1 0.44 0.44 1.42 116.8
DDHMSR-0009 31.0 61.0 30.0 0.36 6.3 7.35 0.34 0.66 1.08 32.3
69.0 189.0 120.0 1.16 10.3 39.0 0.43 2.04 3.06 367.0
2 intervals 150.0 1.00 9.5 32.7 0.41 1.77 2.66 399.3
DDHMSR-0013 9.0 13.0 4.0 0.19 2.4 262.9 0.42 0.23 3.57 14.3
21.0 54.7 33.7 0.30 7.7 6.9 0.70 0.92 1.35 45.6
61.0 205.5 144.5 0.20 25.5 5.1 0.65 1.25 1.73 249.5
263.0 272.0 9.0 0.66 8.8 0.5 0.29 0.46 1.23 11.0
4 intervals 191.2 0.24 21.1 10.6 0.64 1.13 1.68 320.4
DDHMSR-0015 120.8 132.0 11.2 0.62 32.6 0.1 0.13 0.25 1.46 16.4
1 interval 11.2 0.62 32.6 0.12 0.13 0.25 1.46 16.4
Notes to Drill
Interval Table:
1. Significant interval defined as a minimum 10 meter interval or a 10 gram meter AuEq interval grading a minimum of 1 gpt AuEq
2. Internal dilution limited to 4 continuous meters of <0.5gpt AuEq Cut off grade 0.5 grams/tonne AuEq
3. Au Equivalencies based on the following metal value ratios
Au:Ag 50:1
Au:In 87.5:1
Au:Pb 19,845:1
Au:Zn 19,845:1
4. Long term metal ratios based on value relations of $1200/oz Au, $24/oz Ag, $400/kg In, $0.80/lb Pb and Zn
5. The intervals shown are drill length intervals. True widths are not known.
No significant intervals as defined by note 1 were drilled in the remaining 10 Phase I drill holes.

Every drill hole encountered some degree of mineralized rock, indicating the partnership is exploring a very large, complex and variously mineralized sulphide system containing gold, silver, indium, lead, zinc and some copper and molybdenum.

The Phase I drill program ran from March 16 to April 26 and comprised 15 HQ-size core holes totalling 3,538.4 meters. The program was designed to test three areas; the Del Indio zone (now called the Zone 33 Area), a series of IP and resistivity anomalies, and the Zone 51 area. The locations of drill holes are shown on the attached location map (to view click on: http://media3.marketwire.com/docs/mfm720.jpg).

Our partner, NovaGold has informed the Company that a Phase II program is now being planned. This program will include a 15 line-kilometer IP/Resistivity survey; and a 3,500 to 5,000 meter HQ-size drill program. The drill program is planned for September 1 to November 15, 2011.

Mr. John Hite reports, "Dick Walters and I, as well as Pedro Vera and Daniel Buffone, our two senior geologists in Argentina, have all long believed that we have discovered a major gold-silver-lead-zinc-indium deposit. This belief has been strengthened by these drill results. The mineralization in the Zone 33 area is open ended in several directions. Equally important, several similar geologic settings occur elsewhere on the property.

The commercial development possibilities at San Roque are greatly enhanced by its ideal location very close to all needed infrastructure."

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. The data presented was reviewed as part of a Quality Assurance/Quality Control (QA/QC) program under the direction of NovaGold Resources Inc.'s geologists Heather Brown, P.Geo. and Al Montgomery.

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