MEXIVADA MINING CORP.
Suite 1400 � 400 Burrard
Street
Vancouver, British
Columbia
V6C
3G2
Tel: (604) 689-1749
Fax: (604)
643-1789
January 17, 2008
TSX-V: MNV
OTC: MXVDF
Frankfurt:
M2Q
NEWS
RELEASE
Mexivada Discovers Two Large
Diamonds at Malambani, Republic of Congo
Mexivada Mining Corp. is pleased
to report the discovery of two large diamonds and probable kimberlite indicator
minerals from a previously unexplored location on its 100% controlled Malambani
Permis de Recherche concession, located near Mayoko, Republic of
Congo.
According to government records, mining of alluvial gold (+33,000
ounces) by the Avoine Company at Mayoko after World War II included their mining
of a 22 millimetre, sharp-faced white gem octahedral diamond thought to weigh
approximately 75 carats and a 7 millimetre blue-yellow colored diamond, during
the gold dredging operations. They never found the source of these diamonds.
Mexivada has been conducting
systematic reconnaissance exploration mapping and sampling for gold and diamonds
along the 8 by +23 kilometre long Mayoko Greenstone Belt at Malambani from its
Mayoko field office. Heavy mineral
pan-concentrate sampling in alluvium this past week led to the discovery of two
diamonds in two pits (PDM17 and PDM19), located 100 metres apart from each other
in a new area near Mayoko, within the boundaries of Mexivada�s Malambani
concession.
The first diamond is a white,
modified octahedron 7.5 millimetres in diameter, and the second stone recovered
was a shiny 6 millimetre greenish-white colored dodecahedral diamond. The stones weigh approximately 0.1 gram
each. The diamond indicator mineral chromite, as well as purplish pink garnets
(possibly pyropes), were also found at these two sampling sites in the pan
concentrates. Mexivada has applied
for the necessary permits to send these minerals to the Gemological Institute of
America (�GIA�) laboratory in Carlsbad, California for examination, study, and
verification by diamond expert John Koivula. Mexivada will continue its
sampling-mapping program at Mayoko, in search of kimberlitic pipes that could
host the diamonds and indicator mineral(s). Photographs of these recovered
minerals will be posted to the Mexivada website.
Although the Malambani property has had historic
alluvial gold and diamond mining operations on it, the property is without a
known body of primary kimberlitic or lamproitic diamond ore and Mexivada�s
activities to date have been exploratory in nature. Readers are cautioned that until a
primary diamondiferous source body has been found and an adequate number of
holes have been drilled and NI 43-101 compliant diamond testing analyses have
been obtained, reviewed, and properly interpreted by qualified personnel, any
conclusions as to the nature and extent of mineralization at Malambani must be
considered speculative in nature.
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 Republic of Congo (�ROC�). 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
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.