MEXIVADA MINING CORP.
Suite
1400 � 400 Burrard Street
Vancouver, British
Columbia
V6C
3G2
Tel: (604) 689-1749
Fax:
(604) 643-1789
November 21,
2007
TSX-V: MNV
OTC:
MXVDF
Frankfurt:
M2Q
NEWS
RELEASE
MEXIVADA EXTENDS
MALAMBANI GOLD ZONES; MOLY DOME UPDATE
MALAMBANI,
ROC CONGO:
Mexivada is pleased to report that it has discovered four new gold zones
in its Malambani exclusive concession area, within the North Gold Belt along a
10 kilometre (�km�) length west of the previously reported Lemagna zone, where
chip samples contained gold values of up to 11 grams per tonne gold in 1-metre
channel samples were found in altered, sulfidized banded iron formation (�BIF�)
host rocks. These localities are shown on a map being posted to Mexivada�s
website at www.mexivada.com. Work
also has continued on the plus 15.5 km long South Gold Belt, where 11 lode gold
prospect areas have been located by sampling gold placer �leads� up to their
source areas. Both belts are open to the west and east.
Trenching
work just completed at the Bingoumi prospect in the North Gold Belt has
unearthed a 12 m long and a plus 3 to 4 m true width zone of auriferous BIF (see
photos on website) that appears to be the same stratigraphic unit as the BIF
exposed at Lemagna, 2.8 km to the east of Bingoumi. The BIF sequence tends to
average 15 metres in true thickness, not all of which is mineralized. Oxidized
channel samples of BIF were crushed and panned on site at Bingoumi, which
yielded recovered gold contents of 23 to 36 grams per cubic metre, with gold
particles up to 0.5 gram in size. Excavation work and sampling continues now,
during the rainy season at Bingoumi to delineate the mineral system. Mexivada�s
work is conducted out of its Mayoko office with 5 field geologists and engineers
and approximately 40 local prospectors and other workers from Mayoko and neighboring villages. Samples are being shipped to labs in South Africa for
chemical analyses and gold fire assays.
MOLY DOME,
NEVADA:
Mexivada completed its first drillhole at a depth of 459 metres, bottoming the
hole in quartz-sericite-pyrite altered mineralized granitic rocks that contained
local molybdenite in possible breccia clasts that had been transported upward
from depth. A second hole was started on a southern, induced polarization (�IP�)
target area, which will resume after the Thanksgiving holiday break. The cores
are being logged and will be split at a newly-opened facility which is being
rented from the Shoshone-Paiute Tribe at nearby Owyhee, Nevada.
Mexivada�s
third drillhole will test a large IP chargeability anomaly to the northwest of
holes 1 and 2, which may represent a shallow mineral target in a second igneous
body in a porphyry cluster at Moly Dome. An IP section showing this target is
being posted to the Mexivada website.
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.