MEXIVADA
MINING CORP.
Suite
1400 � 400 Burrard
Street
Vancouver, British Columbia
V6C
3G2
Tel: (604) 689-1749
Fax: (604)
643-1789
June 6, 2007
TSX-V: MNV
OTC: MXVDF
Frankfurt:
M2Q
NEWS
RELEASE
Mexivada Mobilizes for
Drilling in Nevada at Gold Junction; Moly Dome Geophysical
Program to begin in late June
Drilling Projects: Mexivada Mining Corp. has
begun mobilization for Phase 1 reverse-circulation ("RC") drilling at its Gold
Junction, Nevada property with its contractor, Jessmarc
Exploration LLC. The drill holes will have depths of approximately 50 to 200
metres to gold targets, testing for Round Mountain / Gold Hill type open pittable
epithermal gold targets. Upon
completion of the Gold Junction program, Mexivada plans to drill its Poker Flats
Carlin-style sediment-hosted open pittable gold targets near Carlin, Nevada. Mexivada expects to drill a total of at
least 8 holes in this Phase 1 program. The drill samples will be delivered to
and assayed by ISO-certified ALS Chemex Laboratories in Elko and Reno, Nevada.
Moly Dome, Nevada
Molybdenum-Copper-Gold Project: Mexivada controls 47 lode
mining claims at Moly Dome, located 120 kilometers north-northwest of Elko, in
the Edgemont Mining District. Moly
Dome has outcropping, moderately high grade molybdenum mineralization exposed at
the surface. Copper and Gold-silver
mineralization also are present on the property, in the same area as the molybdenum, but may be separate mineralizing pulses. Hand samples contained up to 0.359%
MoS2, along with anomalous values of rhenium. Yellow-brownish vein
quartz with abundant blebby azurite and malachite also was found recently at the
surface, suggesting the presence of copper mineralization at depth. Mexivada conducted geologic mapping,
sampling, and brief soil gas geochemical testing here in 2006, and just
completed detailed geological mapping and sampling of the main target areas.
Rock chip samples in 2006 returned local anomalous values of gold to 0.16 gram
per tonne (gpt Au) and to 64.6 gpt silver.
Mexivada has contracted with Durango Geophysical Operations of Durango, Colorado to conduct an Induced
Polarization survey across the porphyry target area at Moly Dome later this
month. Regional gravity and
magnetic geophysical data suggest the presence of a large plutonic intrusive
body(ies) at a shallow depth below the surface at Moly Dome, possibly associated
with a porphyry moly-copper system that would be cut by a later gold-quartz
mineral system of unknown size and origin. Small pods of argillicly to phyllicly
altered intrusive rocks are found locally at the surface, in Paleozoic
hornfelsed slate-phyllite and quartzite. The target at Moly Dome is a large,
open pittable Climax/Henderson- or Robinson-type porphyry molybdenum-copper
deposit, with a cross-cutting gold silver system, perhaps similar to that
present at Golden Phoenix� Ashdown molybdenum-gold mine, which is located 225
kilometres west of Moly Dome.
Mexivada has begun permitting for the proposed drilling program at Moly
Dome with the U.S. Department of Interior, Bureau of Land Management. If the permits are in place, Mexivada
plans to drill Moly Dome in late summer 2007, upon completion of its drill
program at Poker Flats.
This press release and its contents have been reviewed by
Richard R. Redfern, Mexivada's President, who is a Certified Professional
Geologist and Qualified Person as defined under National Instrument
43-101.
About Mexivada Mining Corp.
Mexivada is a
diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, and joint venturing high-grade Gold-Silver, Diamond, and
Rare Metal exploration projects in Mexico, Nevada,
and the ROC Republic of Congo. Managed by experienced and successful
board members and advisors, Mexivada is well financed with no debt. For further information, including area
maps and photos, please visit our web site at www.mexivada.com or contact us by
e-mail at info@mexivada.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"RICHARD R.
REDFERN"
Richard R. Redfern
President
Contact: LionsGate Communication
Corp.
Telephone: (866)
922-6774 or (604) 866-7700
info@mexivada.com
www.mexivada.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
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
assay results, future exploration work, and the expected 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 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.