MEXIVADA MINING CORP.

Suite 1400 � 400 Burrard Street

Vancouver, British Columbia

V6C 3G2

Tel: (604) 689-1749 Fax: (604) 643-1789

March 3, 2008 TSX-V: MNV

OTC: MXVDF

Frankfurt: M2Q

NEWS RELEASE

MEXIVADA DISCOVERS FIVE NEW GOLD ZONES AT MAYOKO, REPUBLIC OF CONGO

Mexivada is pleased to report on gold exploration progress at Mayoko in the Republic of Congo- Brazzaville (�ROC�).

Two gold belts, the North Gold Belt and the South Gold Belt, extend through Mexivada�s exclusive Malambani Permis de Recherches concession for gold and connected substances. Mexivada has discovered one new gold zone in the South Gold Belt and four new gold zones within the North Gold Belt, where chip samples contained gold values of up to 11 grams per tonne gold in 1-metre (�m�) channel samples in altered, sulfidized banded iron formation (�BIF�) host rocks at the Lemagna prospect. Two of the new zones contain anomalous gold-bismuth mineralization, which could be indicative of �Fort Knox�-type intrusive-related open pit gold targets. These localities are shown on a map posted to Mexivada�s website at www.mexivada.com.

NORTH GOLD BELT- Lepindji-Bingoumi-Ngouhada-Lemagna Prospects: A series of gold prospects have been found along the +15 kilometre (�km�) long North Gold Belt, tracing �leads� of placer gold up to their source outcrops. Mexivada�s prospectors filled up a glass Coca Cola bottle with gold nuggets and flakes at the �Coke Bottle� zone near the Bingoumi prospect, and subsequent hand trenching work delineated a +20m true width of magnetite-rich Archean BIF, which is one of the main host rocks for gold mineralization at Mayoko. Samples of oxidized BIF at Bingoumi were crushed and panned on site, which yielded recovered gold contents of more than 30 grams per tonne of rock, with gold aggregates up to 4.4 grams in weight. The zone of auriferous BIF (see photos on website) extends northeast for at least 2.8 km to Lemagna, and possibly an additional 2 km to the Tsopo prospect, for which a Mobile Metal Ion (�MMI�) geochemical survey has delineated a large gold-(bismuth) soil anomaly. Tsopo could represent an intrusive-related �Fort Knox�-type gold system. The belt of BIF also extends for a further 8 km to the west-southwest to the Lepindji prospect where gold has found with BIFs as well as diamonds in the nearby creeks. Mexivada is beginning a program of mapping and sampling in this Bingoumi to Lepindji zone.

SOUTH GOLD BELT- Bambonga-Bilala-FMI-Lesseseti-Madoka: Work continues on the +22 km long South Gold Belt, where 12 lode gold prospect areas have been located. This belt extends from the Vouka Diamond-Mayoko Gold terrane intersection zone west-southwest to the dominantly granitic Louesse Horst, which also is a diamond target terrane that contains the new Mousondji diamond prospect. Aeromagnetic data flown by Fugro Airborne for the government of Gabon show patterns suggestive that the Mayoko greenstone belt structure continues both eastward and westward into Gabon, for a length of more than 100 km.

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A new, +2 by 1.5 km open pit gold target has been defined at the FMI zone through MMI soil sampling, which yielded a strong gold-bismuth anomaly area which, again, could be indicative of an intrusive-related �Fort Knox�-type gold system. Mexivada presently is doing follow-up rock geochem sampling in this FMI target area. Mexivada also will extend the area of exploration to the southwest in the Bambonga target area, where the Avoine Company found a 1 kg gold nugget after World War II.

MEXIVADA HIRES NEW DIAMOND SPECIALIST: Mexivada is pleased to report the hiring of Mr. Siva Sankar, a geologist with significant diamond experience with DeBeers and other companies in Africa and India. Mr. Sankar will be Project Geologist in charge of Mexivada�s diamond exploration programs in the Congo, reporting to Dr. Noel Watha-Ndoudy, Mexivada�s Project Manager.

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, Molybdenum, 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, sections, 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;