Mexivada Mining Corp.
OTC Bulletin Board : MXVDF

Mexivada Mining Corp.

September 14, 2011 09:30 ET

Mexivada Begins Drilling Program at Golden Porcupine Property, Timmins, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2011) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to report the startup of a core drilling program at its Golden Porcupine property at Timmins, Ontario, Canada. Golden Porcupine is situated in the +60,000,000 ounce Porcupine gold camp, south of the Delnite and Aunor gold mines and southwest of Goldcorp's +17,000,000 oz. Dome Mine. Mexivada is using flow-through cash funds in Mexivada's treasury to fund this drilling program.

Mexivada is targeting the finding of three types of gold deposit: 1) Pamour Open-Pit Style gold associated with felsic intrusive rocks and their hosts, similar to at the plus 4,500,000 ounce Pamour Mine in the eastern part of the Timmins camp, 2) Dome Mine - Delnite Mine style vein-style gold hosted in and disseminated adjacent to fault structures, and 3) Meliadne-Central Patricia-Pickle Crow style bulk mineable and structure-controlled gold in and near large banded iron formations. All of these are large ounce potential gold target styles.

Mexivada's new program of NQ core drilling has begun on the property, along with mechanized trenching to expose additional rock outcrops. The first two drillholes are being sited on the "Big Bif" open pit style gold target area, where a very large gold target area was defined by ground magnetic and induced polarization surveys, showing coincident IP - Mag lows and elevated gold geochemical anomalies.

Subsequent drilling will then occur in 1) the "Gold Chlorite" target area, located along a north-northwest trending induced polarization chargeability high in the southeastern part of the property, near shafts and trenches from which high grade gold samples were reportedly taken by a previous explorer, and 2) the "PDFZ" target area in the northern part of the property occurs along confirmed segments of the regional Destor-Porcupine structural zone, including parallel fault-shear structures to the south. Induced polarization chargeability highs are present along segments of these structures, along with 3 small, coincident magnetic "low" areas. Ossian Gold Mines reportedly drilled 8 holes totaling 1894.5 metres in this target area in 1938-39.

Mexivada feels that the Golden Porcupine property holds good promise to hold gold deposits of the size and gold grade that would be attractive for possible future development. The Big BIF, PDFZ, and Gold Chlorite gold targets are interpreted overall to have good gold potential, in line with Mexivada's model of searching for large deposits that would be attractive to major gold companies such as Goldcorp. Mexivada presently is negotiating with third parties for the acquisition of additional attractive gold properties in the Timmins region.

The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information and evaluated the interpretations contained in this news release.

About Mexivada Mining Corp.

Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, mining, and joint venturing high-grade 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 or contact us by e-mail at


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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