Marifil Mines Ltd.
TSX VENTURE : MFM

Marifil Mines Ltd.

October 12, 2012 15:20 ET

Marifil Resumes Operatorship of Las Aguilas

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2012) - Marifil Mines Ltd. (TSX VENTURE:MFM) ("Marifil" or "the Company") is happy to announce that it has resumed operatorship of the Las Aguilas property. Marifil and Prophecy Platinum Corp. (TSX VENTURE:NKL) have terminated their Joint Venture earn-in option on the Las Aguilas property, San Luis Province, Argentina.

Marifil has begun discussions with an Argentinean company that is interested in forming a partnership to develop the property.

John Hite, President of Marifil, comments: "While we are disappointed that Prophecy Platinum has elected not to move forward with Las Aguilas, we remain excited about the property and the opportunity to form a new partnership. Since Las Aguilas has a 43-101 (Wardrop Engineering) indicated plus inferred resources containing a minimum of 18,871 tonnes of copper, 18,796 tonnes of nickel, 1,381 tonnes of cobalt and 1,222,670 ounces of platinum plus palladium, we remain encouraged about its near-term development possibilities. We look forward to partnering with a company that will focus on expanding this resource and engaging in mine development and are confident in the project's potential."

For more information on the Las Aguilas property, please visit Marifil's website or Marifil's May 11, 2011 news release.

On Behalf of the Board of Directors,

John Hite, President

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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