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

Mexivada Mining Corp.

November 28, 2011 10:53 ET

Mexivada Drilling Discovers Multiple Gold Intercepts at Hislop and Timmins, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2011) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to report discoveries from its core drilling programs in Hislop Township near the Ross Mine and at its Golden Porcupine properties located just south of Goldcorp's Dome Mine property. We report the discovery of multiple new gold intercepts that have fire assay gold assay values in excess of 1 gram per tonne gold (g/t Au). Most of these are new exploration discoveries in previously undrilled areas. Thirteen holes have been drilled to date and one hole currently is in progress at Hislop.

Hislop Properties, Matheson Gold Camp, Ontario: Mexivada has made a new gold discovery in its first drillhole and is in progress on a second hole in the "booming" Matheson area in Hislop Township, near the +1,000,000 ounce Ross gold mine, the Black Fox Mine, Gibson deposit, Contact - 147 Zones of Brigus Gold, and the Hislop Mine of St. Andrew Goldfields. The new discovery is located just southwest of where St. Andrew Goldfields recently completed at least 11 drillholes near the Mexivada claims boundary, along a north-trending magnetic-low anomaly that appears to extend southward into St Andrew ground. Core from this first hole is being sawed, but a small batch of rush samples showed an assay in excess of 1 g/t Au in highly favorable looking quartz- fine pyrite feeder veins.

A second drillhole on the property, which is proceeding to depth, has intersected multiple zones of mineralization, and a newly-discovered, quartz-veined syenite intrusive system. Brigus Gold's nearby high-grade Gibson-Contact-147 gold zones are located in or near syenitic intrusive systems. Mexivada plans to drill a third hole to the north of hole #2, and will report further information as the data are compiled and interpreted.

Golden Porcupine Property, Central Timmins Gold Camp, Ontario: Mexivada has completed a Phase 1, 12-hole core drilling program at its Timmins, Ontario properties, located near the Dome-Aunor-Delnite mines complex of Goldcorp. Not all the core has been sawed or sent off for assay. The drilling intercepted multiple zones of gold mineralization, in the majority of holes drilled, with local preliminary assay results in excess of 1g/t Au. Nine holes were drilled on the Golden Porcupine property, with 4 shallow holes testing the Clorinda shear/vein system, which was found to be up to 20 metres wide and showing gold assay values at surface and in drillholes of up to 3 g/t Au, a new gold discovery. Three holes were drilled on the Rypan option property, on the Jennifer and Clorinda Extension (?) vein systems, where mineralized drill intercepts also were encountered; no assays have yet been returned.

Core is being sawed, bagged and logged at Mexivada's new, large, office and work/storage facility in South Porcupine, Ontario by Mexivada's team of professional geologists and assistants. The present drill program is funded with flow-through funds in Mexivada's treasury. The work efforts are being supervised by A. David Heyl, C.P.G., Mexivada's Vice-President of Exploration.

ROC Congo Gold-Diamonds Project Update: Mexivada' optionee partner, Zamarat Mining Ltd., is working toward the re-starting of exploration activities on the Malambani gold and diamonds project. Previous work by Zamarat in 2011 delineated new, high-grade, previously undrilled gold bearing outcrops at Malambani, which yielded samples containing up to 2 metres of rock grading 19.4 g/t Au.

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 examined and studied the Dome, Delnite, Pamour and Hislop mines, verified the information herein, 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 www.mexivada.com or contact us by e-mail at info@mexivada.com.

ON BEHALF OF THE 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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