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

Mexivada Mining Corp.

January 12, 2011 18:44 ET

Mexivada Mining Corp.: New Major Midas-Style Gold Target Delineated at Goldstorm Property, Midas-Getchell Gold Trends, Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2011) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to announce receipt of assays pertaining to its Goldstorm property in a press release from West Kirkland Mining Inc. ("WKM") dated 10 January 2011. WKM drilled two core holes on the Goldstorm property. The first hole intersected 5 zones of Midas-Style low sulfidation gold mineralization in the top 118.4 metres of the hole, in a new target area defined by geophysics. The second hole could not be drilled where the WKM-Mexivada team wanted, due to permitting constraints by the U.S. BLM, so does not represent a test of the main Carlin-style gold target at Goldstorm.

"West Kirkland has now received results from 2010 drilling on the Goldstorm property, which consisted of two diamond drill holes. Intercepts from hole WG1001 confirmed the presence of and potential for volcanic-hosted gold veins similar to the Midas mine to the southeast of Goldstorm.

GOLDSTORM DRILL RESULTS

Hole ID From (m) To (m) Length Au g/t Ag not reported by WKM
           
WG1001 65.00 67.00 2.00 5.51* N/R
And 86.70 88.70 2.00 3.29 N/R
And 86.70 88.70 2.00 3.29 N/R
And 103.00 104.00 1.00 1.56 N/R
And 116.40 118.40 2.00 1.95 N/R
 
WG1002 No significant values
 
* "Uncapped"

WG1002 was drilled to a depth of 544.7 metres and reportedly did not cut stratigraphy favourable to host Carlin-type mineralization, one of the gold target types at Goldstorm. West Kirkland made payments of US$75,000 to Mexivada and US$10,000 to Richard Redfern / Allied Nevada Gold Holdings LLC to hold the Goldstorm option in good standing. Mexivada will be analyzing the drilling data when received from WKM."

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. Maps, sections, and photos are posted on our web site at www.mexivada.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard R. Redfern, President

This news release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause Mexivada's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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