Marifil Mines Ltd (MFM)

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Good morning MARIFIL MINES LTD. (TSXV:MFM)

Marifil Mines Ltd. Announces Non-Brokered Private Placement



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

MARIFIL MINES LTD. (TSX VENTURE:MFM) (the "Company") is pleased to announce a non-brokered private placement of up to 20,000,000 units at $0.05 per unit for gross proceeds of up to $1,000,000 (the "Offering"). Each unit will consist of one common share and one full purchase warrant (a "Unit"). Each whole warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.10 for 60 months from closing of the Offering. If, commencing on that date that is four months after the closing of the Offering, the closing price of the common shares of the Company on the TSX Venture Exchange is higher than $0.20 for 20 consecutive trading days then on the date that is the 20th consecutive trading day (the "Acceleration Trigger Date") the expiry date of the warrants will be accelerated to the date that is 20 business days after the Acceleration Trigger Date. Closing of the Offering is anticipated to be on or about February 25th, 2013.

Insiders, management and other existing shareholders identified by the Company will subscribe for up to $200,000 (up to 4,000,000 Units) of the Offering on the same terms and conditions.

Sprott Private Wealth LP and affiliates will act as finders in the Offering. A finders fee equal to 7.5% payable in cash or Units will be payable on a portion of the Offering. Brokers warrants equal to 7.5% of the Offering will be payable to certain finders, brokers warrants issued will be exercisable for a period of two years at $0.05 per share, subject to early acceleration on the same basis as the Unit warrants.

All securities issued pursuant to this non-brokered private placement will be subject to a four month hold period from the date of issuance.

Proceeds from the placement will be used for exploration and development activities on the Company's properties and for general working capital. The non-brokered private placement is subject to the approval of the TSX Venture Exchange

Marifil (MFM.V) Identifies High Gold Recoveries in Oxide Gold Tests


Receives Favourable Results from Cyanide Leach Tests in Zone 34 San Roque Property, Argentina


VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 22, 2013) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces it has received preliminary results from bottle roll cyanide recovery tests from the Zone 34 oxide gold target at the San Roque Project, Rio Negro Province, Argentina.

Marifil submitted composite drill core samples from three holes to the Alex Steward Argentina S.A. laboratory for testing. The purpose of these tests was to determine the amenability of the oxide mineralization to heap leach gold extraction. The tests were highly successful and the Company intends to move forward with further testing and drilling of this gold deposit. Table 1 shows the results of these tests.






Table 1









Composite ID

Drill Hole

Samples

Number of samples



MC-1-2

DDHSR 34 (Nova)

8314-15-16-17-18-20-
21-22-23-25-26-27-28-
29-30-32-33

17



MC-3

DDH 17 (Marifil)

9120-21-22-23-24-25-
26-27-28-29-30-31-32-
33

14



MC-4

DDH 20 (Marifil)

9218-19-20-21-22-23-
24-25

8








The laboratory carried out metallic screen assays to determine if coarse gold was present. The assays of the three composites plus one duplicate sample show that 95% of the gold reports to the -140 mesh fraction. This is important because fine-grained gold leaches more readily than coarse-grained gold.

The bottle roll tests were carried out at a pH of 11.2. The results for the 96 hour leach were 92.43%, 85.28%, and 95.14% recoveries of gold respectively. Graph 1 below shows the results for grade vs time for gold.

To view "Graph 1", please visit the following link: http://media3.marketwire.com/docs/MFMfig.pdf.

Silver recoveries were lower than expected, however this is typical for heap leach operations. Silver accounts for less than 20% of the dollar value of the deposit.

The Company is pleased with these preliminary results from San Roque. We look forward to conducting further testing on the property.

On Behalf of the Board of Directors,

John Hite, President

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com).

Marifil Mines (MFM.V) Year End Update: December 2012



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2012) -

Dear Shareholders & Investors,

On behalf of Marifil Mines Ltd. ("Marifil" or the "Company") (TSX VENTURE:MFM), I am pleased to provide an operational update on Marifil's activities for the year end 2012. During the past year, the Company has made several significant accomplishments on our extensive portfolio of projects in Argentina.

Marifil has expanded its land holdings and acquired two high-grade potash deposits K-5 and K-6 in the Neuquen basin. Additionally, the company hired consultant Dr. Robert Rennie to assist in the development and planned spinout of the potash, sulfur, and phosphate projects into Marifil Fertilizers Ltd. For more information on the company's potash projects please visit Marifil's website: http://www.marifilmines.com/

Marifil has been working diligently to find new partners for our properties. We have reached an agreement on one of our larger projects; however, we have been unable to sign a contract for several months due to bureaucratic delays. A second major project is being reviewed by several companies and investor groups and we hope to have updates in the coming months.

Further, Marifil has succeeded in adding value through exploration and development. One of our recent successes has been in identifying oxide gold at the San Roque property. This potential heap leach gold deposit is located in the Zone 34 area of the property and mineralization is thoroughly oxidized to a depth of 30 to 35 meters. Company geologists are currently preparing composite samples for metallurgical testing. Several companies have signed or are reviewing Confidentiality Agreements on this project. For more information on San Roque please read Marifil's December 10th News Release: http://www.marifilmines.com/s/news.asp?ReportID=560789

Despite Marifil's successes and advancements this year, our share price has been hit hard by poor macro economic conditions. The junior mining sector has suffered from slowing economic growth in the US, the Eurozone crisis, and the looming fiscal cliff. Poor investor sentiment, declining trading volumes, and restricted access to capital have caused almost half of all TSX-Venture junior mining companies' stock prices to fall below 10 cents. Adding to this list of problems is the perception that Argentina offers a poor investment climate, although a number of major companies are spending billions of dollars to develop new projects. Even in the face of these tough market conditions, we are confident in our growth strategy and excited about the future.

Our plan for 2013 is:
•To continue to develop our portfolio of projects, our diversity allows us to whether commodity price volatility
•To partner with mid-large mining companies to reduce risk and exploration costs
•To spinout Marifil Fertilizers Inc.

On Behalf of the Board of Directors,

John Hite, President

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com).

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.

Marifil Regains Ownership of Mina El Carmen



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2012) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that Marifil has regained ownership of the Mina El Carmen oil and gas property in Chubut Province, Argentina.

The Mina El Carmen project is an oil and gas property with a potential target of 8.1 billion cubic feet of natural gas and 6.4 million barrels of oil. Marifil's geologic report, including an estimate of target size, was prepared by an experienced Argentinian petroleum geologist who is a member of the American Association of Petroleum Geologists, but is not a Qualified Person as defined by NI 51-101. Therefore investors are cautioned that this estimated target is not a defined resource.

Mina El Carmen was sold to Ilakon Ltd. ("Ilakon"), a private company, in November 2010 for $250,000, an 8% royalty, and an annual minimum advance royalty of $75,000. Ilakon completed the $250,000 purchase and subsequently sold the property to Obtala Resources ("Obtala"), a British Company. Obtala (and/or Ilakon) failed to make the $75,000 advance royalty payment due in November 2012. Marifil exercised its right to cancel the contract and is now the owner of the property.

The property comprises four patented oil claims totalling 2,001 hectares located on the north flank of the Golfo San Jorge Basin in Chubut Province, Argentina (see El Carmen News Release dated October 16, 2007).

Twelve shallow wells were drilled on the property by private and government oil companies between 1928 and 1944, primarily to test a near-surface gas-bearing formation. Four of the wells have shut-in gas and two of the deeper wells reported oil and gas shows from deeper reservoirs. Several factors sharply limited the value of this early testing, including lack of technical ability, lack of seismic coverage, the use of now obsolete technology and placing wells where access was convenient rather than based on geology.

Marifil will begin looking for a new joint-venture partner for Mina El Carmen.

On Behalf of the Board of Directors,

John Hite, President

Marifil (MFM.V) Identifies Oxide Gold at San Roque; Potential Heap Leach Gold Deposit



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2012) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces it has identified a potential heap leachable gold deposit at the Zone 34 area on its San Roque Property, Rio Negro Province, Argentina.

Zone 34 includes two sub-parallel linear gold bearing structures about 125 meters apart, each exceeding 200 meters in length, named the west system and the east system. Both systems are hosted by a rhyolite crystal lithic tuff which has been shattered, silicified, and cut by stockwork quartz-pyrite-gold-silver veinlets. Mineralization is thoroughly oxidized to a depth of 30 to 35 meters.

Zone 34 represents a sparsely explored sector of the property which differs markedly from the focus area of past drilling as it lacks significant base metal and indium mineralization. This absence of base metals, especially copper, enhances the leachability of precious metals mineralization.

The last episode of drilling on the property ended with diamond drill core hole DDHMSR-0034 returning 35 m (oxidized) of 2.27 g/t Au and 42.6 g/t Ag from surface down followed by 37.5 m (unoxidized) of 1.12 g/t Au and 15.3 g/t Ag from 155.5 m to 193.0 m. These intercepts average less than 0.01% Cu, 0.10% Pb and 0.15% Zn.

The east system is defined by nine drill holes, including DDHMSR-0034, with an average thickness of 16.8 meters and a weighted average grade of 3.18 grams per ton gold. The west system is defined by six holes with an average thickness of 14 meters and a weighted average grade of 1.50 grams per ton gold.

Company geologists are preparing composite samples from drill core coarse rejects for metallurgical testing to determine whether this deposit can be exploited by low cost heap leach extraction. The Company is preparing for laboratory bottle roll cyanide leach tests to be quickly completed. If these results are positive then column leach tests will follow to further determine gold leachability characteristics.

On Behalf of the Board of Directors,

John Hite, President

Marifil Resumes Operatorship of Las Aguilas

Source: http://bit.ly/Wd0pgC

VANCOUVER, B.C. -- OCTOBER 12, 2012, MARIFIL MINES LTD. (TSX-V: MFM) ("Marifil" or "the Company") is happy to announce that it has resumed operatorship of the Las Aguilas property. Marifil and Prophecy Platinum Corp. (TSX-V: NKL) have terminated their Joint Venture earn-in option on the Las Aguilas property, San Luis Province, Argentina.

Marifil has begun discussions with an Argentinean company that is interested in forming a partnership to develop the property.

John Hite, President of Marifil, comments: "While we are disappointed that Prophecy Platinum has elected not to move forward with Las Aguilas, we remain excited about the property and the opportunity to form a new partnership. Since Las Aguilas has a 43-101 (Wardrop Engineering) indicated plus inferred resources containing a minimum of 18,871 tonnes of copper, 18,796 tonnes of nickel, 1,381 tonnes of cobalt and 1,222,670 ounces of platinum plus palladium, we remain encouraged about its near-term development possibilities. We look forward to partnering with a company that will focus on expanding this resource and engaging in mine development, and are confident in the project's potential."

For more information on the Las Aguilas property, please visit Marifil's website or Marifil's May 11, 2011 news release.

On Behalf of the Board of Directors,

John Hite

President

Netco and Marifil (MFM.V) Enter into Purchase Agreement for 100% of Toruel Silver Property


Consideration to include issuance of 19.9% of Netco Shares to Marifil


VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2012) - NETCO SILVER INC. (TSX VENTURE:NEI) ("Netco") and MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil") are pleased to announce that they have entered into an assignment and purchase agreement dated September 19, 2012 (the "PurchaseAgreement") whereby Netco has agreed to purchase all of Marifil's 100% interest in the Toruel copper-silver project (the "Toruel Property"), located in the Rio Negro Province of Argentina, and all exploration data related thereto (the "Transaction"). Netco and Marifil believe that the Transaction is in the best interests of their respective shareholders as owning a 100% interest in the Toruel Property will facilitate Netco's ability to finance work programs at the Toruel Property and the ownership interest that Marifil will acquire in Netco, as described below, will enable Marifil's shareholders to benefit from the exploration and development of the Toruel Property by Netco.

Netco and Marifil are currently parties to an option agreement dated March 3, 2011, as amended (the "Option Agreement"), pursuant to which Marifil granted Netco an option to acquire up to a 70% interest in the Toruel Property. Under the terms of the Purchase Agreement, Marifil will assign and sell to Netco all of its interest in the Toruel Property in consideration for:
a.Netco issuing Marifil an aggregate of 3,500,000 share purchase warrants (each, a "Warrant"), with each Warrant entitling Marifil to acquire one common share of Netco (each, a "Share") at a price of $0.10 per Share until the date that is twelve (12) months from the closing of the Transaction (the "Closing") and at a price of $0.15 per Share from the date that is twelve (12) months from the Closing until the date that is twenty-four months from the Closing;


b.Netco issuing to Marifil such number of Shares as will cause Marifil to hold an aggregate of 19.9% of the issued and outstanding Shares at Closing; and


c.the grant of a 3% net smelter returns royalty to Marifil.



Netco has also agreed to assume Marifil's existing property payment obligations to the underlying owners of the Toruel Property upon Closing.

The Transaction is expected to close on or about November 30, 2012. The Closing of the Transaction is subject to a number of conditions, including:
a.the approval of the TSX Venture Exchange and of the underlying owners of the Toruel Property, if applicable;


b.Netco having funds in the minimum amount of $825,000 (the "Closing Funds"), of which $375,000 shall be used to complete the purchase of claims from an underlying owner of the Toruel Property and $450,000 shall be used for a drill program on the Toruel Property;


c.satisfactory completion of all transactions contemplated in the Purchase Agreement; and


d.Marifil and Netco having executed a termination and release confirming the termination of the Option Agreement.



In the event that Netco is unable to provide evidence to Marifil of holding the Closing Funds at the time of the Closing, the Purchase Agreement and the Option Agreement shall be terminated.

About the Toruel Property

The Toruel Property covers 5,736 hectares and is located about 25 kilometers southeast of the village of Los Menucos, Rio Negro Province, Argentina. Netco has completed prospecting and surface sampling on the Toruel Property and has reported assays from 162 surface samples. These rock samples returned assays from 0.0 to 0.714 g/t gold (sample 10041) and channel samples from 0.0 to 0.379 g/t gold, 56.8 g/t silver and over 1% lead over 0.95 meters (sample 10066). Equally important, their work has revealed new vein structures outside of the known Toruel Vein, where past drilling had intersected 6.7 meters of 1,998 g/t silver and 5.34% copper. All laboratory work with respect to the samples was completed by Acme Labs, Santiago, Chile, an ISO 17025 accredited analytical laboratory. Sample preparation used procedure D60, R200-500, with digestion and analysis using method IEX, and precious metal determination by method G6-50.

Technical information in this news release has been reviewed and approved by Andrew Gourlay, P. Geo., President of Netco and a Qualified Person as defined in National Instrument 43-101. This news release has also been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President of Marifil Mines Ltd., under whose direction the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.

For more information, see Netco's technical report on the Toruel Property entitled, "Toruel Project, Rio Negro Province – Argentina", dated effective November 21, 2011 and authored by James F. Ebisch, MSc., which is available under Netco's profile on SEDAR at www.sedar.com.

Marifil Mines Ltd. Summer Update: September 2012



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 11, 2012) - Marifil Mines Ltd. (TSX VENTURE:MFM) -

Dear Shareholders & Investors,

On behalf of Marifil Mines Ltd.("Marifil" or the "Company"), I am pleased to report on Marifil's activities for the end of summer 2012. During this time, the Company continued to develop and advance its extensive portfolio of projects in Argentina and made a key addition to its team.

The Company announced a consulting services agreement with Dr. Robert J. Rennie to assist in the planned spin-out of its potash, sulfur, and phosphate projects. Dr. Rennie has a PhD. in Soil Microbiology and has over 27-years of experience working with and managing fertilizer companies. For more information on this agreement please see Marifil's May 1, 2012 News Release: http://www.marifilmines.com/s/NewsReleases.asp?ReportID=522352&_Type=News-Releases&_Title=Marifil-Hires-Fertilizer-Executive-Dr.-Robert-Rennie. Following, the Company signed a purchase agreement for the K-5 and K-6 Potash Properties. Marifil plans on spinning these properties into Marifil Fertilizers Ltd., a Capital Pool Company (CPC) or a shell company. This recent purchase now makes us the 2nd largest potash exploration company in Argentina. For more information, please see Marifil's May 8, 2012 News Release: http://www.marifilmines.com/s/NewsReleases.asp?ReportID=523543&_Type=News-Releases&_Title=Marifil-Signs-Purchase-Agreement-For-K-5-and-K-6-Potash-Properties).

Additionally, Marifil along with their JV Partner Netco Silver Inc. (TSX VENTURE:NEI) ('Netco') announced the discovery of two new mineralized vein systems at the Toruel Property. The Toruel Property is located approximately 100 kilometers from one of the world's largest undeveloped silver deposits: Pan American Silver's Navidad Project. For more information on the discovery, please see Marifil's May 31, 2012 News Release: http://www.marifilmines.com/s/NewsReleases.asp?ReportID=528272&_Type=News-Releases&_Title=Partner-Announces-the-Discovery-of-Two-New-Mineralized-Vein-Systems-at-the-.

In June, Marifil resumed operatorship of the San Roque from JV partner NovaGold. The San Roque property contains 111,000 hectares of land and covers a large gold-silver-lead-zinc-indium mineral deposit. 108 holes have been drilled so far, all of with have hit mineralization. Of particular interest is hole 34 which hit 35 m of 2.27 g/t gold from surface down. Currently, NovaGold has earned a 49% interest in the property. Both companies will now work to complete a shareholder's agreement, which will allow Marifil to move forward with further exploration of the discovery. For more information, please see Marifil's June 29, 2012 News Release: http://www.marifilmines.com/s/NewsReleases.asp?ReportID=534943&_Type=News-Release&_Title=Marifil-Resumes-Operatorship-of-San-Roque.

During the past few months, Marifil's geologists have carried out a phosphate exploration program in the Neuquen Basin and a regional exploration program for base and precious metals in Patagonia. Meanwhile, management has vigorously pursued a program of seeking out partners for our various projects and for spinning out our fertilizer minerals into a new company.

The Company is looking forward to a productive fall and continuing to increase shareholder value on our diverse portfolio of properties in Argentina. The market conditions have been difficult for all junior exploration companies but we believe this is starting to turn around. We are confident in our project generator model and will continue to find & acquire quality assets and generate cash flow through strategic partnerships and sales.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 7, 2012) - Marifil Mines Ltd. (MFM.V) ("Marifil" or the "Company") announces that it has granted incentive stock options to purchase an aggregate of 1,360,000 common shares of Marifil to directors, officers and employees of the Company. These options will be exercisable for a period of five years at the price of $0.20 per share.

The granted incentive stock options replace the 1,510,000 options that expired on May 28, 2012 and were exercisable at the price of $0.66 per share.

On behalf of the Board of Directors,

John Hite, President

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com).

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.

General Disclaimer

Marifil Mines Ltd., "Marifil", has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Marifil Reports Trenching Results on Cerro Samenta Porphyry Copper Property



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2012) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") reports that re-sampling of trenches on its Cerro Samenta porphyry copper project, Salta Province, Argentina confirms the presence of strong copper mineralization. The encouraging results of this sampling are set out in Table 1 below:



TABLE 1



Trench

Length
(meters)

Total
Copper (%)

Soluble
(Oxide)
Copper (%)



B

80.4
Plus 51.0

0.39
0.99

0.23
0.83



C

164.8

1.06

0.94



D

102.7

0.47

0.39



G

15

2.68

2.56



I

52

1.21

1.15



J

6

1.01

0.88



L

20

0.28

0.18



M

22

4.19

4.01



N

65

0.31

0.22



O

10
Plus 18

0.24
0.37

0.17
0.23



P

23

0.90

0.79


The trenches were originally dug by Teck Corp in the 1990s (see Marifil News Release dated November 30, 2011). The sample program was carried out by Petro Gold Servicios Mineros S.R.L., an independent geological services company. The purpose of the sampling program was to verify the presence and extent of oxide soluble copper.

Marifil concludes from the results of this examination that a significant copper oxide deposit may be present and that additional trenching along with shallow rotary drilling is justified. Marifil also believes that copper sulfide mineralization associated with the oxide copper deposits has been insufficiently tested by previous workers, and the property shows good promise for discovery of a porphyry copper deposit.

The Cerro Samenta property lies within a transverse continental scale lineament known as the Archibarca Lineament which localizes a string of porphyry copper prospects and deposits including Escondida situated 120 kilometers to the northwest of Cerro Samenta in Chile.

The project comprises two large and separate intrusive centers, the North Zone and the South Zone. Both zones display porphyry style copper and molybdenum sulfide mineralization within clusterhydrothermally altered quartz monzonite and rhyolitic intrusives. Both of the sulfide systems show strong induced potential (I.P.) geophysical anomalies. The South Zone appears to have been adequately drill tested by previous workers, but the North Zone, the site of the oxide copper trenches, lacks sufficient drilling for testing all the exploration potential.

Jeff Toohey, a qualified person and geologic consultant retained by Marifil to study the porphyry exploration potential of the property, concludes that further work is warranted and recommended with three key drill targets in the North Zone: the untested north-western quadrant of the chargeability anomaly (I.P.); the hydrothermal breccia deposit; and the sources of other occurrences of moderate- to high-grade oxide-Cu mineralization that has been sampled in soils and float and exposed in the sampled trenches to the south of the hydrothermal breccia.

Mr. Richard Walters remarks, "Cerro Samenta lies within a well established structural corridor hosting several porphyry copper deposits. It has easy access, and it's big with plenty of exploration romance. Already, a major copper producer has approached Marifil to engage in joint venture terms discussions

Marifil Mines (CVE:MFM) has an exciting year ahead for shareholders, says president John Hite, as the Canadian explorer, which is focused on its 25 properties spanning 555,000 hectares in Argentina, is planning on spinning out its potash assets into a separate company.

This is a move that will see Marifil likely shell out a "nice dividend" through a big portion of the shares from this transaction.

Earlier this month, the exploration-stage resource company hired Robert J. Rennie to aide with the proposed spin-out of its fertilizer-related assets, under a consulting services agreement. Rennie, who holds a PhD in soil microbiology from the University of Minnesota, is slated to become the president and chief executive of the Newco, or the new separate entity.

Rennie spent 20 years working for Agrium (TSE:AGU) - one of the world’s largest fertilizer companies. While at Agrium, he was chairman of the board of both Profertil S.A., a joint venture between Agrium and Repsol.

Marifil’s flagship potash properties, K-2 to K-6, are located in the Neuquén Basin in Argentina, where the company has identified "extremely significant potash targets" on all five properties through a review of oil well drill logs, Hite says.

The 100 percent-owned K-2 potash project, which is comprised of 99,964 hectares, is based on four wells that span an 18 kilometre distance from north to south. Within the triangle of wells, Hite says the co-relation is "startling", with mineralization projected from hole to hole.

Based on these wells, Marifil projects a potash target that potentially exceeds 200 square kilometres and yields around 200 million tonnes of KCI (the composite grade of all four potash-bearing beds of sylvinite from two horizons.

Hite notes there are similar targets on the company's K-3 and K-4 properties, with 50 to 100 million tonnes of potential KCl based on fewer wells.

The K-5 property, Hite says, is the "best explored", with 51 wells and intercepts of up to 4.5 metres thick, "running 40% to 45% KCl grades."

"With good grades and reasonable depths to around 1,000 metres deep, there is potential for underground or solution mining at K-5," says Hite, a professional geologist that has run junior mining companies out of Canada since 1987.

Hite adds that the company has identified up to seven separate horizons of potash.

Marifil plans on twinning two of the holes on K-5, and based on these results, the TSX Venture Exchange would need to approve the use of the remaining 49 holes on the property for a resource estimation, assuming the results match what is seen in the drill logs.

"There is giant potential here," the company's president adds.

But despite being the second largest potash holder in Argentina, Marifil's experience lies with hard rock mining, and is relatively new to the game of potash. It therefore has planned to spin out its potash assets into a separate entity, complete with a new board and president, with enough funding to develop the potentially lucrative properties.

Hite says an investment banking firm has already approached the company about raising a "significant amount of money", with an initial goal of around $6 million to be used to prove up the potash resource, followed by another $15 to $20 million of raising once this is done.

As an alternative, Hite says that a joint venture for each potash property is also a possibility, with the company recently having met with an interested potash player in Vancouver. But the spin off into a single entity is the preferred option.

Marifil's second flagship property is the San Roque project in the Rio Negro province of Argentina, a 51 percent-owned joint venture with NovaGold Resources (TSE:NG) (AMEX:NG).

San Roque is a 70,046 hectare "enormous" discovery, comprised of a large sulphide system with 108 holes. One of the last holes NovaGold drilled in the southeast portion of the property yielded an interval of 34 metres grading 2.27 grams per tonne (g/t) gold, with minor amounts of lead and zinc, says Hite.

The project is characterized by "steeply dipping linear structures", with a projected resource of around 30 to 60 million tonnes. The asset is open ended in every direction, says the company, and at depth.

"We think we can expand significantly at San Roque, and assuming we can raise another $4 to $6 million required for drilling, we could have an NI 43-101 resource in place by this time next year," insists Hite.

Marifil also owns the high grade silver-copper Toruel property in the Rio Negro Province near the small town of Los Menucos, which it has farmed out to Netco Silver.

Netco can earn a 50 percent interest in the project during the next three years by paying a total of $200,000 in cash, issuing 3.15 million shares to Marifil and making work expenditures of $2.8 million. Drilling is expected to start on the site by June this year.

Hite also says investors should take note of the company's porphyry copper projects, including the high grade, near-surface Cerro Samenta project in Salta province, where it has already received an offer from a "major copper company" for a joint venture.

This property, which is surrounded by large copper deposits such as the giant Esplendida mine, has had "fantastic" trench samples, remarks Hite, including 154 metres at 1.06% copper, 22 metres of 4.2% copper, and 50 metres of 2% copper.

"We have an exciting year ahead of us," says Hite, "with a nice dividend in the offing."

"The company has three legs under its stool - precious metals, base metals and industrial metals - making us widely diversified.

"As the world's economy and population grows, particularly in China, India and Brazil, we will be there to help produce," concludes Hite.

Marifil, with about $1.4 million in the bank, raised nearly $1 million last year from joint ventures and property sales, and Hite is looking to duplicate this goal in 2012.

The company closed Wednesday on the TSX Venture Exchange at 14.5 cents.

Marifil Acquiring High Grade Potash Deposit
PrintAlert
MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that
it has signed a Letter of Intent ("LOI") to acquire the Filo Morado potash
property in Neuquen Province, Argentina.


Filo Morado (now re-named K-5 by Marifil) comprises 14 claims totalling 30,100
hectares. Marifil has been granted a 60 day period to carry out due diligence; a
title report is in progress. The terms of the LOI call for a $25,000 payment on
signing (which has been paid); a $125,000 payment at the end of the due
diligence period; a $150,000 payment in six months; $175,000 in 24 months;
$200,000 in 30 months; and $2,400,000 in 48 months. The owner retains a 2% Net
Smelter Royalty but Marifil has the right to purchase 1.5% for $1,500,000.


The K-5 claims are bordered on the east by Vale's claims which host the +2
billion tonne Potasio Rio Colorado potash deposit and bordered on the north by
claims owned by K+S Group (a giant German fertilizer corporation) and which host
the large El Porton potash deposit. The K-5 prospect is possibly an extension of
the El Porton deposit.


Marifil geologists have identified significant sylvite (KCl) intervals in drill
logs from 27 holes drilled for oil. Eight additional drill logs are still being
analyzed. Potash mineralization has been identified in up to 7 separate
horizons. Most of these horizons range in depth from about 1000 to 1100 meters
but significant potash has been identified as deep as 1500 meters.


Table 1 below summarizes some of the more significant intervals:



Thickness
Drill Hole (meters) Grade (%KCl)

FM a17 2.5 45%
and 4.0 27%

FM 23 4.0 45%

FM 27 3.5 42%
and 2.5 43%
and 4.4 29%

FM 29 3.5 45%

RuC x-1 5.2 40%



All of the holes analyzed to date are shown in Table 2 and at the end of this
report.


The potash horizons occur in a large north-striking anticlinal or monoclinal
fold. Mineralization occurs over a width of 5 kilometers and a strike length of
about 20 kilometers.


Mr. John Hite reports, "This acquisition may be a real game changer for Marifil
and is one we worked for nearly one year to acquire. We have identified multiple
high grade sylvite (KCl) horizons with mineable thicknesses over an area of 80
to 100 square kilometers. These horizons should be extremely amenable to
solution mining. By adding the K-5 we have become the second largest potash
claim owner in the Neuquen Basin."


"Marifil is actively seeking a partner to develop our K-2, K-3, and K-4
properties. K-5 is a stellar addition to this portfolio."




TABLE 2

--------------------------------------------------------------------------
SILVITE HORIZON H1 SILVITE HORIZON H2
thick- thick-
WELL ID top Base ness % K Cl top Base ness % K Cl
--------------------------------------------------------------------------
FM X-1 1215.7 1217.5 1.8 21 1214 1215.3 1.3 23
FM X-3 1214.2 1216 1.8 18 1212 1213.6 1.6 22
FM X-4 1196 1197 1 14 1192 1193.5 1.5 26
FM X-5 1385.3 1386.8 1.5 25 1384 1385 1 24
FM 12 1528.7 1531.5 2.8 22 1524.2 1528.4 4.2 33
FM a-17 1160.8 1163.3 2.5 45 1158.4 1159.8 1.4 12
FM 19 1078.2 1080 1.8 21 1075.6 1078.2 2.6 19
FM 21 1083.8 1085.8 2 23 1080.5 1082.7 2.2 24
FM 23 1015.8 1019.8 4 45 1005.8 1008.3 2.5 17
FM a-26 1222.3 1223.8 1.5 26 1220.2 1222 1.8 25
FM 27 1021.3 1024.9 3.5 42 1017.8 1020.3 2.5 43
FM 29 1518.2 1521.7 3.5 45 1511.8 1513.8 2 37
FM 30 1534.8 1538 3.2 36 1515.2 1520.2 5 29
FM 31 1403.2 1406.5 3.3 37 1400.3 1402 1.7 13
FM 34 1391.5 1393.2 1.7 20 1388.7 1390.7 2 33
FM 35 1477 1478.2 1-1 22 1474.5 1476.6 2.1 33
FM 36 1376.5 1379.2 2.3 21 1370.4 1372 1.6 40
FM 36 1425.5 1427.2 1.7 22 1423.5 1424.8 1.3 20
FM 37 1058.2 1059.5 1.3 40 1055 1056.8 1.8 40
FM 38 1121.5 1123 1.5 25 1105.2 1107.4 2.2 22
RuC x-1 2437.5 2439 1.5 26 2436.2 2436.8 0.6 32
RuC x-2 2385.5 2388.3 2.8 27 2374.2 2376.3 2.1 29
FDT X-2 713.4 715 1.6 22 707.5 709.7 2.2 21
LBl X-1 1380.5 1382.4 1.9 17 1374.5 1379.5 5 19
--------------------------------------------------------------------------

SILVITE HORIZON H3 SILVITE HORIZON H4
thick- thick-
WELL ID top base ness % K Cl top base ness % K Cl
--------------------------------------------------------------------------
FM X-1 1212 1213.6 1.6 22 1196 1200 4 19
FM X-3 1208.6 1210 1.4 14 1204 1205.3 1.3 8
FM X-4 1189.5 1191 1.5 25 1178.8 1180.6 1.8 15
FM X-5 1377.3 1370.3 2 17
FM 12 1517.3 1522.8 5.5 25 1507 1510 3 44
FM a-17 1104 1108 4 27 1101.1 1102.3 1.2 17
FM 19 1068.5 1070.5 2 14 1054.2 1055.8 1.6 11
FM 21
FM 23 996 997.8 1.8 7
FM a-26 1207.8 1209.8 2 29
FM 27 1006.2 1010.6 4.4 29
FM 29 1509.8 1511 1.2 20 1501.5 1504 2.5 29
FM 30
FM 31 1398.8 1402.5 3.7 14
FM 34 1369.2 1371.5 2.3 45 1367 1368.7 1.7 38
FM 35
FM 36 1360.8 1362.8 2 21
FM 36 1422 1423 1 30
FM 37
FM 38 1096.4 1098.2 1.8 30 1090.7 1092.3 1.6 17
RuC x-1 2430 2435.2 5.2 40 2426 2429.3 3.3 7
RuC x-2 2372 2373.6 1.6 27 2353 2354 1 19
FDT X-2 704.8 706.2 1.4 24
LBl X-1 1367.8 1370 2.2 26



This press release has been reviewed and approved by John Hite, President of
Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions
the exploration program is being carried out. Mr. Hite and Mr. Walters are
Qualified Persons as defined by National Instrument 43-101.