=======================================================================
Re: News Releases - Tuesday, February 17, 2009
Mexivada Starts
Diamond Mining at Kono, Sierra Leonne; Larger
Diamond Found at Lepandza, Roc Congo
=======================================================================
Sierra Leone Projects: Mexivada Mining Corp. (MNV.V) has begun
Diamondmining near Koidu Town, in the heart of the famous, world class Kono
mining district of Sierra Leone. Hundreds of millions of US Dollars
worth of diamonds are produced from the district every year, including
many fancy-colored stones. Kono is renowned for its high-quality white
gem diamonds, but also yields highly attractive green, yellow, and rare
blue and reddish colored stones. In earlier years, many of the colored
diamonds were reported to have been discarded. The Kono District is
home to the largest concentration of artisanal miners in the world.
Mexivada's partners have received a second artisanal mining license
("AML") for
Diamond mining from the government of Sierra Leone. This
AML covers a 1-acre site adjoining the first license, on the opposite,
upslope side of the creek. The Mexivada partnership will mine the first
AML area and then proceed to the second AML area afterward.
Mexivada's mining operation is focused on mining a
large-
Diamond-bearing channelized deposit of alluvial gravels and on
previously extracted, but unprocessed, dump piles of these gravels from
the first AML. This diamondiferous gravel channel has yielded white,
green, and yellowish diamonds up to 14 carats in weight from the
adjacent, privately-owned AML on the downstream side of Mexivada's
present operation.
The targeted braided-stream channel gravel deposit is approximately 80
to 100 feet in width, and the most highly
Diamond-enriched portion is
the lowest 12 to 24 inches at the base of the channel deposit.
Overburden gravels on Mexivada's first concession appear to be 6 to 8
feet in thickness. These upper gravels will be tested for larger,
trapped diamonds and also for any remnant smaller diamonds, as part of
the due diligence process. Mexivada is targeting the recovery, through
Hartz jigs, of larger, plus 0.5 carat to plus 10 carat white and
colored diamonds for the specialty and auction
Diamond markets.
Mexivada will report on the results achieved from this initial test
mining evaluation prior to the PDAC meeting in Toronto in March, 2009.
Mexivada also is starting up a new white- and colored-
Diamondpurchase-and-export business for the North American and European
consumer and auction markets, to complement its mining and exploration
efforts. Mexivada's plan is to have this business up and running within
several weeks.
ROC Congo Projects: Adolphe Nguimbi, Mexivada's General Manager in the
ROC Republic of Congo (Brazzaville), reports that a one carat white
Diamond was found by a gold prospector in Mexivada's
Lepandza-Makoubi-Bouawsa
Diamond project area near Mayoko, Congo. The
Diamond was found in Lepandza Creek, approximately 420 meters westerly
of a sample that contained chromites and a 0.5 mm
Diamond, and 520
meters west of a sample in which a "G-10"
Diamond indicator garnet was
recovered. Mexivada feels that this target area is an excellent
prospect for discovery of a diamondiferous kimberlitic pipe or dike
system.
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 mining and mineral exploration
company focused on identifying, acquiring, advancing, and joint
venturing high-grade
Diamond, Gold-Silver, and Rare Metal exploration
projects in Mexico, Nevada, Sierra Leone, 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 (778) 737-7771
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 and mining
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 and
access agreements 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.
=======================================================================
Copyright (c) 2009 MEXIVADA MINING CORP. (MNV) All rights reserved.
For more information visit our website at http://www.mexivada.com/ or
send mailto:info@mexivada.com
=======================================================================
.
<