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Re: News Release - Monday, April 21, 2008
Mexivada Discovers Porphyry Molybdenum, Silver-Tellurium, And
Gold Systems At Moly Dome, Nevada; Begins Tellurium Exploration
Program
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Mexivada has received final assay and geochemical results from its 2007
Phase 1 drilling program at its Moly Dome property, which is located
120 kilometres north-northwest of Elko, Nevada. Three HQ diamond core
drillholes were completed for a total of 1202 metres ("m") of drilling.
A porphyry molybdenum system and several intervals of
gold-silver-tellurium mineralization were intersected in hole 1. Hole 2
intersected a sulfidized, tungsten-enriched metasediment "carapace"
cover rock sequence, ostensibly above granitic or porphyry bodies, and
a silver-tellurium-gold enriched vein system was intersected in hole 3.
These drill results show that Moly Dome is in a highly prospective
target area for molybdenum, gold, and silver-tellurium mineralization,
in close proximity to each other.

Tellurium is a rare "high tech" metal that is an integral part of new
cadmium telluride solar panel technologies used by industry leader
First Solar (FSLR- Nasdaq). The price of tellurium metal has increased
from US$10.00 per kilogram ("kg") in 2004 to recent selling prices of
US$300 to possibly as much as US$500 per kg, and a recent article
suggested that First Solar could be vulnerable to tellurium shortages
that could result in significantly higher prices from here. Mexivada's
Jefferson property near Round Mountain, Nevada also contains
significant enrichments in tellurium, associated with its precious
metal systems. Mexivada has begun an exploration program for
additional potential new sources of tellurium metal.

Drillhole MD07-1 was drilled to a depth of 458.7 m at an angle of -65
degrees, attempting to drill across projected surface vein
mineralization located at the "Moly Shaft" prospect, where samples of
molybdenite (MoS2)-pyrite bearing quartz were found that contained up
to 0.359% MoS2 (see Mexivada's website at www.mexivada.com). MD07-1
also was designed to drill into a significant induced polarization
("IP") chargeability anomaly defined below the Moly Shaft. The
molybdenum mineralization intersected in MD07-1 is associated with
porphyry-style granitic intrusives and hydrothermal breccias that cut
deep-level "mesozonal" granodiorite to quartz monzonite stocks of the
Cretaceous 81 to 90 Ma (million years old) Mountain City granitic stock
system. Molybdenite mineralization occurs in variable amounts through
much of the drillhole, as closely spaced quartz-molybdenite-pyrite
veins, small pockets, and disseminations within strongly altered
metasedimentary and greenstone strata of the Paleozoic upper plate
Valmy Formation, and in alaskite and granodiorite porphyry rocks that
are strongly sericitic with potassic overprints characterized by
potassium feldspar and biotite selvages developed along veinlets and
stringers of quartz+magnetite+pyrrhotite. Geochemical and assay
results from MD07-1 indicate a 127 m thick intercept of stronger
mineralization occurring between 91-218 m with values of up to 0.626%
MoS2 over 1.5 m core lengths, as shown in the table below.

Gold mineralization in MD07-01 is somewhat anomalous yet pervasive
throughout most of drill hole MD07-1. A high gold value of 1.82 ppm Au
over a 1.5 metre interval (147.8 to 149.3 m) occurs adjacent to a
quartz latite dike of possibly Carlin-age and to a quartz-healed quartz
vein breccia. This could be indicative of a second, younger gold-rich
mineral event of Tertiary age, synchronous with gold mineralization at
Carlin Goldstrike, Nevada at 39 Ma. A gold-silver-tellurium-lead
enriched interval of mineralization also occurs at 222.5 to 224 m,
similar to those described below in holes MD07-2 and MD07-3.

Drillhole MD07-02 was drilled in the southern part of the Moly Dome
property to a depth of 331.3 m, at an angle of -60 degrees, into a
second IP chargeability anomaly. The hole intersected a south-dipping,
domed up and pyrite-sulfidized metasediment "carapace" cover rock
sequence of Valmy greenstone and quartzite that ostensibly overlies
granitic or porphyry intrusive bodies. Some weak gold-tungsten
mineralization was found in this sulfidized rock package, but wide
intervals between 150 to 185 and 215 to 280 m downhole were strongly
enriched in tungsten, with values to 0.056% W, suggestive of possible
nearby skarn mineralization. A gold-silver- lead-tellurium enriched
interval also occurs at 224 to 225.5 m, similar to that described below
in hole MD07-3.

Drillhole MD07-03 was drilled in the east-central part of the Moly Dome
property, north of hole MD07-1, at an angle of -75 degrees, to a total
depth of 411.8 metres. This hole was sited southeast of a large, strong
IP chargeability anomaly, targeting projected east-west trending
outcropping quartz vein mineralization containing molybdenite,
galena-(hessite?) and malachite. Localized sub-planar to stylolitic
veins of molybdenite were intersected between 303.3 to 408.4 m within
and along the margins of a quartz stockwork zone hosted by carbonaceous
spotted phyllite metasedimentary rock. Cross-cutting the molybdenite
mineralization are high-grade silver-tellurium-lead-gold bearing
quartz-sulfide and quartz-carbonate veins that contain up to 206 ppm
tellurium, 320 ppm silver, 1.15 ppm gold and 1555 ppm lead, over 1.5
metre core intervals. These veined zones contain localized
concentrations of the tellurium minerals hessite and altaite. The
relationship between the telluride-precious metal-carbonate
mineralization and molybdenum has not yet been clarified, but the
former may be superimposed on the molybdenum, and thus be younger in
age.

DRILLING RESULTS, MOLY DOME PHASE 1 CORE DRILLING PROJECT

Core Hole Molybdenum Geochemistry: (% MoS2)

DDH # Intercept (m) Width (m) % MoS2
MD07-1 91.4- 92.9 1.5 0.023
MD07-1 99.1-111.3 12.0 0.060
MD07-1 111.3-123.4 12.0 0.133
MD07-1 118.9-120.4 1.5 0.626
MD07-1 126.5-128.0 1.5 0.055
MD07-1 132.5-158.5 26.0 0.043
MD07-1 161.5-178.3 17.0 0.028
MD07-1 189.0-218.0 29.0 0.021

MD07-3 303.3-304.8 1.5 0.033
MD07-3 347.5-349.0 1.5 0.101
MD07-3 358.5-360.0 1.5 0.053
MD07-3 379.5-380.0 1.5 0.017
MD07-3 402.3-403.8 1.5 0.019
MD07-3 406.9-408.4 1.5 0.017

Core Hole Geochemistry: (Au, Ag, Te, Pb)

DDH # Intercept (m) Width (m) Au (ppm) Ag (ppm) Te (ppm) Pb (ppm)
MD07-1 77.7- 79.2 1.5 0.189 -0.01 -0.05 6
MD07-1 147.8-149.3 1.5 1.820 28.3 15.65 47
MD07-1 193.5-195.0 1.5 0.113 54.5 6.37 711
MD07-1 222.5-224.0 1.5 0.444 59.5 16.4 1555
MD07-1 257.5-259.0 1.5 0.251 24.9 8.31 170
MD07-1 266.8-268.3 1.5 0.128 126.0 17.05 1030
MD07-1 291.2-292.7 1.5 0.016 41.8 2.61 217

MD07-2 18.3- 19.8 1.5 0.112 2.78 0.30 8
MD07-2 39.6- 41.1 1.5 0.158 1.86 0.19 17
MD07-2 224 -225.5 1.5 0.100 46.8 3.67 544

MD07-3 150.9-152.4 1.5 0.217 1.67 1.10 45
MD07-3 353.5-335.0 1.5 1.155 320.0 206.0 608

INTERPRETATION: Mexivada has identified a previously unknown
"low-fluorine" style porphyry molybdenum-gold mineral deposit system at
Moly Dome, with low copper values. Similar style molybdenum systems are
found at Thompson Creek, Idaho and elsewhere in Nevada. The northern
part of the Moly Dome property has a strong IP chargeability anomaly
area that has not yet been tested for molybdenum by drilling. In
addition, strong silver-tellurium-gold mineralization appears to cut
the molybdenum system, and the extent and geometry of this
mineralization needs to be explored by additional drilling. Both the
molybdenum-gold and silver-tellurium-gold systems may extend upwards
to- or toward the ground surface. Moly Dome holds good potential to
yield a bulk-mineable molybdenum-gold-silver-tellurium deposit in
today's market, and it is close to established infrastructure and
mining workforces.

FUTURE WORK: Planning of phase II drilling is now underway in order to
define the shape, extents, and grades of mineralization at Moly Dome.
The northern part of the property area will be tested for additional
molybdenum porphyry bodies, in and near the IP anomalies. The form,
geometry, and extents of the silver-tellurium-gold mineralization also
will be tested by drilling, and additional bodies of this
mineralization will be explored for. Mexivada has begun a new program
of exploration for high-grade tellurium deposits in North America, and
elsewhere as opportunities arise, to augment the two properties that it
already controls.

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; 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.

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Copyright (c) 2008 MEXIVADA MINING CORP. (MNV) All rights reserved.
For more information visit our website at http://www.mexivada.com/ or
send mailto:info@mexivada.com
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