Keywords : Argentina | Copper | Nickel | Platinum |

News Release

Thursday, May 17, 2007

Marifil & Castillian Sign Earn-In Agreement for
San Luis Nickel-Copper-PGM Property, Argentina

Castillian May Earn Up to 65% Interest

Spokane, WA - May 17, 2007: MARIFIL MINES LTD. (MFM: TSX-V) ("Marifil") is pleased to announce that it has signed a second agreement with Castillian Resources Corporation (CT: TSX-V), ("Castillian") whereby Castillian may earn up to a 65% interest in Marifil's "San Luis" belt located in the San Luis province of Argentina.

The San Luis property is a 54,573-hectare nickel-copper-PGM ("platinum group metals") property located along a prospective belt of differentiated ultramafic rocks and believed to be highly prospective for PGM's, particularly platinum. The property is wholly-owned by Marifil, except for an underlying royalty on a portion of the property held by BHPBilliton (BHPB). (See Marifil News Release October 6, 2005.) BHBP had spent about US$1.7 million exploring the San Luis project during 2004 and 2005, bringing the total spent on this large target area to more than US$8.0 million.

In 2006, Marifil signed a joint-venture with Maximus Resources, a private company, to develop the Las Aguilas Ni-Cu-Co-Pt mine located near the south end of the ultramafic belt. Maximus subsequently vended its interest to Castillian Resources.

John Hite, Marifil's President said, "We are extremely pleased to be signing our sixth JV-agreement in the two years since we became a public company, a clear reflection of how others view the excellent prospects contained in Marifil's extensive resource portfolio. With this latest arrangement, we and our various partners will be actively exploring on 10 of our properties across Argentina and providing a healthy flow of news updates."

Under the terms of the Castillian agreement and following an exclusive Due Diligence period of up to 30 days, Castillian can earn a 50% interest in the property by spending US$3,000,000 in exploration and development over a four-year period and making certain payments to Marifil totaling US$600,000. Upon earning 50%, Castillian can further elect to increase its ownership to 60% by spending an additional US$2,000,000, providing a bankable feasibility study and making cash payments of US$150,000 per year each year beginning on the fourth anniversary of this date. Subsequent to earning a 60% interest, Castillian can increase its interest by a further 5% by arranging for the total amount of financing to bring the project to commercial production, such financing will be an obligation of the joint venture and will be subject to the parties agreeing to the terms of the financing, including all payback provisions, and by making cash payments of US$150,000 per year to Marifil for each year following Castillian's having earned a 60% interest in the Property, with those payments to Marifil continuing until such time as commercial production is declared on the Property and the capital costs of the project have been repaid in full.

The Agreement is subject to a number of conditions and regulatory approval.

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. under whose direction the exploration program is being carried out. Mr. Hite is a Qualified Person as defined by National Instrument 43-101.

The statements made in this press release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For further information regarding Marifil Mines Ltd., please refer to the Company's filings on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com.)

Marifil Mines Contacts: John Hite, President (509) 467-5200
Greg Taylor, Investor Relations, gtaylor@marifilmines.com Toronto area (905) 337-8475

Marifil Mines Ltd

	EXPLORATION STAGE
	CODE : MFM.V
	ISIN : CA56781Y1025

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Marifil Mines is a silver exploration company based in Canada.

Marifil Mines holds various exploration projects in Argentina.

Its main exploration properties are LOS MENUCOS, AMARILLO, FEROCARILLERA, TORUEL and PUNTA COLORADO in Argentina.

Marifil Mines is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.1 millions as of today (US$ 4.8 millions, € 4.1 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.03, and its lowest recent point on May 12, 2017 at CA$ 0.01.

Marifil Mines has 121 910 000 shares outstanding.

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Marifil Mines Ltd

& Castillian Sign Earn-In Agreement for San Luis Nickel-Copper-PGM Property, Argentina

Marifil Mines Ltd