Minefinders Corporation Ltd.
NYSE Alternext US : MFN

Minefinders Corporation Ltd.

April 07, 2009 08:30 ET

Minefinders Reports First Quarter Production Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 7, 2009) - Minefinders Corporation Ltd. (TSX:MFL)(NYSE Alternext US:MFN) today announced first quarter and March 2009 production results.

The Company produced approximately 14,169 ounces of gold and 282,429 ounces of silver in the first quarter of 2009, its first full quarter of pre-commercial operations. Pre-commercial production of gold and silver at the Company's Dolores Mine in Mexico commenced in November 2008.

Metal production has continued to escalate as the Dolores Mine progresses to commercial production. Gold production increased to approximately 6,426 ounces in March 2009 from 5,089 ounces in February. Silver production increased to approximately 121,091 ounces in March 2009 from 111,010 ounces in February. With more than five months since the start of leaching operations, gold and silver recovery rates are exceeding expectations. Metal production is expected to continue to increase through the course of the second quarter as the volume of ore under leach and time under leach increases.

"The Dolores Mine remains on target to commence commercial operations in the second quarter with production of gold and silver increasing and two consecutive months of positive cash flow from pre-commercial operations," said Mark Bailey, President and Chief Executive Officer. "Also in March, as part of the broader market recognition that comes with mineral production, Standard & Poor's added Minefinders to the S&P/TSX Composite index, the headline index and the principal broad market measure for the Toronto Stock Exchange. Being added to the index reflects Minefinders' improved market capitalization and trading liquidity relative to other Canadian securities."

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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