MEXIVADA
MINING CORP.
Suite 1400 �
400 Burrard Street
Vancouver,
British Columbia
V6C
3G2
Tel: (604) 689-1749
Fax: (604)
643-1789
October 11, 2007
TSX-V: MNV
OTC: MXVDF
Frankfurt: M2Q
NEWS
RELEASE
MEXIVADA DRILLS
MINERALIZED INTERCEPT AT LA REPUBLICA; MOLY DOME IP ANOMALIES
IDENTIFIED
La Republica Silver-Gold-Zinc-Lead Project, Y�cora
District, Chihuahua, Mexico: Mexivada Mining Corp. has
completed the first core drill hole of its 2000 metre Phase 1 drilling program
at the La Republica property. A second hole is in progress. The first 3 drill
holes are designed to test possible northern extensions to the high-grade Main
Stope silver-gold zone, which reported silver assays of 175 ounces per ton
(�oz/ton�; 5.99 kg/tonne) and up to 0.25 oz/ton gold (8.56 grams per tonne,
�g/t�) in the old mine workings.
Data from Sierra Nevada Gold was found that described their drilling of one core
hole in 1998 into the Main Stope on approximately the 91 metre level. This hole
intersected a mine working 5.5 metres high, which contained floor rubble that
assayed 398.7 grams per ton (�g/t�) silver, and two additional one meter thick
quartz veins in the footwall that assayed 179.1 and 110.7 g/t silver
respectively. Sierra Nevada Gold terminated their program at La Republica after
this drillhole. The historic information provided above is for reference only
and the reader should not infer or assert that the information is correct,
reliable, relevant or accurate and should not be relied
upon.
Mexivada�s drillhole LR-07-1 intercepted
the La Republica vein north of the Main Stope at approximately 115 metres below
the collar of the vertical Parker Shaft, and had a true width of approximately 6
metres of fault breccia and white to gray silica veining in the Republica
fault-vein structure, between 165 and 172 metres. Additionally, mineralized
rhyolitic porphyry dikes are present in the footwall, being quartz-veined and
sulfide-bearing to a depth of 177 metres, and quartz-veined to a depth of 186
metres. All of these rocks are being assayed. This 21 metre interval is the
widest discrete, mineralized drilled interval of the La Republica system reported to date. The footwall to the dikes in hole LR-07-1 comprises andesitic
flows and flow breccias of the Sierra Madre Lower Volcanic Sequence. While
mineralization was noted in portions of the drillhole, no conclusions can be
drawn as to the grade or extent of the mineralization prior to the receipt of
assays. The drill samples were sawed and delivered to ALS Laboratories in
Hermosillo, who are processing the samples.
Mexivada�s drillhole LR-07-2 is testing
the area north of LR-07-1 and south of the Polverine mineralized surface zone,
where Mexivada sampled and assayed a 2 metre thick zone of breccia from the
Republica Fault Zone that assayed 1,230 g/t silver, 0.88% zinc, 0.31% lead, and
0.2 g/t gold. Drillhole LR-07-3 will test the downplunge projection of
Polverine.
Moly Dome, Nevada, Molybdenum-Copper-Gold-Silver
Project: Zonge Engineering of Reno,
Nevada has resumed Mexivada�s induced polarization (�IP�) survey at the Moly
Dome project, in advance of core drilling that is scheduled to start on October
21st. Mexivada has staked an
additional 9 mining claims to protect its target area at Moly
Dome.
Mexivada�s self potential (�SP�) survey
on the Moly Dome porphyry molybdenum-copper-gold-silver target area yielded an
open ended +1600 metre long conductive anomaly that was interpreted by Durango
Geophysical Operations to possibly be indicative of a significant zone of
near-surface sulfide mineralization. An earlier geological interpretation by
Wright Geophysics shows this SP anomaly to occur along the arcuate margin of an
interpreted large intrusive body, as shown on Mexivada�s website. The IP survey
is being conducted to target electrically conductive sulfide mineralization at
depth, using dipole-dipole arrays. The initial two IP lines indicate the presence of two moderate strength IP chargeability anomalies, including one
directly beneath the Moly Shaft, where quartz-molybdenite mineralization is
exposed at the surface. These IP
anomalies will be tested during Phase 1 drilling. The target sought for by Mexivada at Moly
Dome is a large scale Robinson- or Mount Hope- type molybdenum-copper porphyry
system with peripheral enrichments in gold and
silver.
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 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.