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Mexivada Defines Pamour-Type Open Pit Gold Target at Golden Porcupine Property, Timmins Gold Camp, Ontario
Published : February 24, 2011

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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 24, 2011) - Mexivada Mining Corp. (News - Market indicators)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to report significant progress on its Golden Porcupine gold property, Deloro Township, in the main Timmins gold camp, Ontario, Canada. Golden Porcupine is situated in the heart of Canada's premier gold mining camp, south of the 30,000,000 oz. Hollinger - McIntyre mines complex, southwest of Goldcorp's +17,000,000 oz. Dome Mine, and east of Lakeshore Gold's West Timmins project.

The Golden Porcupine Property sits just west-southwest of the historic, past producing Delnite, Aunor and Buffalo Ankerite mines, west of the Dome Mine and these three mines produced a total of over 4.4 million ounces of gold. The plus 4,500,000 ounce open-pitted Pamour Mine is northeast of Golden Porcupine, in the eastern part of the Timmins camp, and Mexivada is targeting the finding of this style of gold mine. Golden Porcupine also has fault-style gold targets, with some that carry high-grade gold mineralization on the surface, but these targets are of lesser interest to Mexivada.

Ground magnetic, VLF-EM, and induced polarization ("IP") surveys recently were completed on the property and interpreted for Mexivada by Wright Geophysics. Enzyme leach geochemical samples also were taken on the property in 2010. Strong magnetic lows with zones of coincident IP chargeability and soil geochemical anomalies have been found, with ENE-, NW-, and N-S trends. A large footprint, northerly trending chargeability zone has been defined which is interpreted as a major, large-scale open pit disseminated, Pamour Mine style gold target. The chargeability anomaly here is believed to represent disseminated pyritic mineralization in late porphyritic intrusive rocks of the Pamour-Pearl Lake style that were discovered through historic assessment work within this main target area. Possible feeder zones to this chargeability anomaly are exposed at the surface, which carry 1 to 2 ounce per tonne gold mineralization. Banded iron formation targets also are present within the main open pit target area, in a large, 15 by 60 metre trench that was developed on a highly silicified, quartz-veined banded iron formation. 

It appears that no exploration holes ever have been drilled on the open pit gold target, which is interpreted to have a plus 3-5,000,000 ounce gold potential, in line with Mexivada's model of searching for multi-million ounce gold deposits that would be attractive to major gold companies such as Goldcorp, Osisko, and Barrick Gold Corp. Mexivada and its Ontario field operations consultants now are compiling the available historic data for the property, which will be completed by March 1. Our geological team will begin mapping, channel sampling, and excavator trenching as soon as weather conditions at Timmins permit, and drilling is anticipated in summer 2011 using Landdrill or BDW Drilling, using flow-through cash funds raised by Mexivada.

ON BEHALF OF THE BOARD OF DIRECTORS

Richard R. Redfern, President

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 and assay results, future exploration work, and the anticipated 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.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.

For more information, please contact

Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
info@mexivada.com
www.mexivada.com
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Mexivada Mining Corp.

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CODE : MNV.V
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Mexivada est une société d’exploration minière d'argent et d'or basée au Canada.

Mexivada détient divers projets d'exploration en USA, au Canada, au Mexique, en Republique Democratique Du Congo et en Sierra Leone.

Ses principaux projets en exploration sont YECORA et AUROTELLURIO au Mexique, MOLY DOME en USA et MAYOKO en Republique Democratique Du Congo.

Mexivada est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 2,8 millions CA$ (2,6 millions US$, 1,8 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 1,19 CA$, et son plus bas niveau récent le 09 novembre 2012 à 0,02 CA$.

Mexivada possède 69 564 000 actions en circulation.

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Dans les médias de Mexivada Mining Corp.
03/11/2007Gold Drivers Report
Rapports annuels de Mexivada Mining Corp.
2007 Annual report
Financements de Mexivada Mining Corp.
10/08/2009Private Placement of $375,000
12/12/2007RECEIVES $1.66 MILLION FROM EXERCISE OF WARRANTS
Attributions d'options de Mexivada Mining Corp.
01/12/2007 Grant of options
Nominations de Mexivada Mining Corp.
12/06/2008Appoints John J. Ellis as Director
Projets de Mexivada Mining Corp.
18/03/2011(Republic Of Congo)and Zamarat Recommence Gold Exploration Program in Republic ...
24/02/2011(Golden Porcupine (deloro))Defines Pamour-Type Open Pit Gold Target at Golden Porcupine...
27/05/2009(Goldstorm)samples up to 2.5 g/t Au and 11.25 g/t Ag at Goldstorm in Ne...
13/05/2009(Sierra Leone Project)Discontinues Mining Test At Yaradu, Sierra Leone
17/02/2009(Sierra Leone Project)Starts Diamond Mining at Kono, Sierra Leonne; Larger Diamond...
07/08/2008(Republic Of Congo)Discovers 30 Metre Wide Disseminated Gold Zone At Ngouaka, R...
12/06/2008(Aurotellurio)Stakes New Gold-Tellurium Property in Mexico
23/04/2008(Republic Of Congo)Approved And Signed By President Denis Sassou N'Guesso Of T...
23/04/2008(Moly Dome)Discovers Porphyry Molybdenum, Silver-Tellurium, And Gold Sy...
01/03/2008(Republic Of Congo)DISCOVERS FIVE NEW GOLD ZONES AT MAYOKO, REPUBLIC OF CONGO
02/02/2008(Jefferson)OPTIONS JEFFERSON GOLD/SILVER PROJECT TO STONESHIELD CAPITAL
25/12/2007INTERSECTS UP TO 1.96 Kg/T SILVER IN DRILL HOLES AT LA REPUB...
10/07/2007Acquires High Grade Silver Mine La Republica Mexico.
09/07/2007Options to Purchase High Grade La Republica Silver-Au-Zn-Pb ...
16/05/2007(Yecora)Intersects 22.3 g/t Gold, 1,640 g/t Silver and High Grade Zi...
Communiqués de Presse de Mexivada Mining Corp.
06/11/2012Drilling Discovers Two High-Grade Gold Zones, Roger Property...
04/10/2012Expands High-Grade Gold Zone, Roger Property, Matheson, Onta...
09/06/2011Begins Work Program at Timmins Property, Ontario, and Define...
04/05/2011Announces New Whitehorse Gold Discovery at Ziggurat Property...
13/04/2011Announces Expansion of Poker Flats Project to 3,600 Acres in...
07/04/2011Options Additional 5% Interest in Poker Flats and Ziggurat P...
01/04/2011Options Gold Jackpot Au-Ag-Te-Cu Property, Pequop Gold Trend...
08/03/2011Zacks Investment Research Initiates Mexivada Mining Corp. Co...
08/12/2008Receives Signed MOU from Gbense Chiefdom for Diamond Mining ...
11/06/2008Finds 1.5 by 8 mm Nugget at Mbandza Gold Discovery, ROC Cong...
18/03/2008's diamond and gold concessions approved by ROC Congo Counci...
10/03/2008Mexivada-Eric Hommelberg Update
27/02/2008DISCOVERS NEW DIAMOND FIELD AT VOUKA, CONGO
18/01/2008Discovers Two Large Diamonds at Malambani, Republic of Congo
04/12/2007ACQUIRES GOLDSTORM MIDAS-STYLE GOLD-SILVER PROPERTY, NEVADA
25/11/2007Mexivada extends Malambani Gold Zones. Moly dome Update
08/11/2007 MEXIVADA DISCOVERS NEW PORPHYRY MOLYBDENUM-RHENIUM SYSTEM ...
11/10/2007DRILLS MINERALIZED INTERCEPT AT LA REPUBLICA; MOLY DOME IP A...
05/09/2007TO BEGIN DRILLING AT LA REPUBLICA IN MEXICO: PROJECTS UPDATE
06/06/2007Mobilizes for Drilling in Nevada at Gold Junction
08/03/2007discovers visible gold zones at Mayoko Project
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