Mexivada Mining Corp.
OTC Bulletin Board : MXVDF

Mexivada Mining Corp.

September 15, 2011 09:30 ET

Mexivada Executes Purchase Option of Rypan Porcupine Gold Mines Claims at Timmins, Ontario, and Expands Gold Target Area

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 15, 2011) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to report that it has entered into an option agreement with Ranger Exploration (P. C. Robert and W.T. Kornik) of Timmins Ontario ("vendors") to purchase a 100% interest in 4 claim units ("Rypan") in Deloro Township Ontario. Mexivada has mobilized a core drilling rig to the area, and plans to conduct core drilling on these claims in 2011. The Rypan claims are situated adjacent to the east property line of Mexivada's Golden Porcupine property, in the +60,000,000 ounce Timmins mining area, 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.

The Rypan claims are located along the Destor-Porcupine structural system, where significant, gold-mineralized vein systems have been newly discovered by Mexivada through detailed field work, and where Rypan Gold Mines conducted exploration and drilling 16 holes by 1947. Rypan reportedly discovered "commercial" gold assay values in holes 15 and 16 along the newly-defined Deloro Fault system, and hole 16 was found in the field by Mexivada. The new "Clarinda" quartz-ankerite-pyrite vein system also was found by Mexivada, with 4 interpreted superposed quartz veining events, similar to veining seen in the Dome Mine. The fault systems and quartz veining on Rypan extend to the west-southwest on to the Golden Porcupine main claimblock. Trenching to gain more exposures here will take place in September, and drilling will start thereafter.

Mexivada feels that the new Rypan property optioned from Ranger Exploration holds good promise to hold gold deposits of the size and gold grade that would be attractive for possible future development, in line with Mexivada's model of searching for large deposits that would be attractive to major gold companies such as Goldcorp. Mexivada continues to search for the acquisition of additional attractive gold properties in the Timmins - Matheson gold production region, on which to conduct drilling exploration.

Mexivada can purchase a 100% interest in the four-unit claim property by compensating vendors in 1) a payment of $25,000 in cash on signing, and 2) issue to Ranger 500,000 common shares of Mexivada common stock upon approval by the TSX Venture Exchange, and 3) a payment of $25,000 in cash on or before the first anniversary of the execution of the agreement, and 4) issue to Ranger 500,000 common shares of Mexivada common stock on or before the first anniversary of the execution of the agreement and upon approval by the TSX Venture Exchange.

The vendors (Ranger) shall retain a two percent (2%) net smelter returns royalty on the sale of all minerals from the property, in accordance with industry practice, and half of this NSR may be purchased from the vendors at any time for $1,000,000. Mexivada shall hold the property in good standing, so as to hold the Vendors' royalty valid throughout.

The proposed transaction remains subject to, among other things, receipt of all requisite Regulatory and other approvals, including the approval of the TSX Venture Exchange.

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, and Pamour 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 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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