Mexivada Mining Corp.
TSX VENTURE : MNV
OTC Bulletin Board : MXVDF
FRANKFURT : M2Q

Mexivada Mining Corp.

August 09, 2011 09:45 ET

Mexivada Appoints VP-Exploration and Updates Progress at Timmins, Ontario Gold Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 9, 2011) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to announce appointment of A. David Heyl to the position of Vice President-Exploration. With over 25 years of field- and upper management experience, Mr. Heyl has a solid geological background in generating and conducting exploration and mining programs for gold, rare earth metals, and base metals, resulting in several discoveries. Dave worked for Barrick Gold in Peru, was the exploration manager for Southern Peru Copper, and spent six years working in and supervising underground and open pit mining operations in the U.S.A. and in South America, often making major changes in reserves and productivity. He also has held geological and management staff positions with Colombia Gold Plc, Oroperu Resources, Monterrico Mining, Minera Remedios, Sacre Coeur, and spent six years working in and supervising underground and open pit mining operations in the USA and extensively in South America, often making major changes in reserves and productivity. He has worked extensively in Nevada, with Galli Exploration, Alta Gold, Battle Mountain Gold, and Copper Range Exploration at Round Mountain. Mr. Heyl holds a B.Sc. in geology from Fort Lewis College in Colorado, and was a licensed investment executive at Wedbush Securities in Colorado. He is an AIPG Certified Professional Geologist and is a Qualified Person as defined under National Instrument 43-101. This appointment reflects the strengthening of the Mexivada team as the company continues to aggressively seek and acquire high quality gold, rare earth and rare metal properties.

Golden Porcupine, Timmins, Ontario: Mexivada has been conducting data compilation of government and private company records, and has been conducting follow-up detailed mapping and sampling on its Golden Porcupine project at Timmins, Ontario, under the direction of Messrs. Heyl and Redfern. Several new drilling targets have been delineated, including an area in the southeastern part of the property, where high-grade gold assay values were reported on an assay plan dated 1911. The results of a new enzyme leach geochemical survey of B-horizon soils in this southeastern part of the Golden Porcupine property were analyzed by Mr. Heyl, and show anomalous areas of gold, arsenic, antimony and molybdenum, suggesting intrusive related gold in this part of the property. The new Mexivada assay results are expected shortly, including a re-assaying for fire assay gold of these enzyme leach soil samples. A program of mechanized surface outcrop stripping, followed by more mapping and sampling, will begin soon on the property, to be followed up by core drilling in the area this fall.

Mexivada has granted options to Mr. Heyl and management for the purchase of 550,000 shares at an exercise price of $0.10 per share for a five year period, effective as of today's date, pursuant to its stock option plan.

This press release and its contents have been reviewed by Richard R. Redfern, Mexivada's President, who is a Certified Professional Geologist and Qualified Person as defined under National Instrument 43-101. Map updates are posted to Mexivada's website at www.mexivada.com.

About Mexivada Mining Corp.:

Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, mining, and joint venturing prospective Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, Canada, and Africa. Mexivada is managed by experienced and successful board members and advisors. For further information, including area maps, sections, and photos, please visit our web site at www.mexivada.com or contact us by e-mail at info@mexivada.com.

ON BEHALF OF THE MEXIVADA BOARD OF DIRECTORS

Richard R. Redfern, President

Caution Concerning Forward-Looking Statements

This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals and diamond prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs. Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Mexivada Mining Corp. undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

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