Minefinders Corporation Ltd.

Minefinders Corporation Ltd.

May 07, 2009 08:49 ET

Minefinders Achieves Commercial Production at Its Dolores Mine

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 7, 2009) - Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN) today announced that it has achieved commercial production effective May 1, 2009 at its 100% owned Dolores gold and silver mine in the state of Chihuahua, Mexico. The advance to commercial production status is based on the operational and financial performance of the mine to date.

Production of gold and silver at the Dolores Mine has continued to increase with gold production in April 2009 of 7,218 ounces, up from 6,426 ounces in March 2009. Silver production totaled 139,565 ounces in April 2009, up from 121,091 ounces in March 2009. Gold and silver production is expected to escalate to steady state levels later in the year as the volume of ore under leach and time under leach continues to increase.

"This is a proud day for Minefinders. After more than 14 years of exploration and development, Dolores is now a long term, low cost gold and silver mine," said Mark Bailey, President and Chief Executive Officer. "We will focus on maximizing the potential at Dolores by optimizing operational efficiencies while continuing to pursue growth opportunities for the Company."

The Dolores Mine is expected to produce over 1.7 million ounces of gold and 64 million ounces of silver over the initial 15-year mine life. Recent photos of operations at Dolores can be viewed at www.minefinders.com in the Dolores Gallery.

About Minefinders

Minefinders is a precious metals mining and exploration company and operates the multi-million ounce Dolores gold and silver mine in Mexico. The Company continues its exploration efforts on other prospective projects in Mexico to build a quality pipeline of precious metals projects for future growth.

This release contains certain "forward-looking statements" and "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "continue" or similar terminology. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Certain of the statements made herein by Minefinders are forward-looking and subject to important risk factors and uncertainties, both known and unknown, many of which are beyond the Company's ability to control or predict. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Those factors are described or referred to under the heading "Risk Factors" of Minefinders' Annual Information Form for the year ended December 31, 2008 and under the heading "Risks and Uncertainties" of Minefinders' Management's Discussion and Analysis for the year ended December 31, 2008, both of which are incorporated by reference herein and are available on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

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