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This blog was created to publish news on argentinean mining, thus complementing our website and presence in social networks. As all of our activities, it intends to connect the mining community in Argentina and provide a place to promote the activity in the world, developing business opportunities.

24 ene. 2011

Marifil Acquires K-4 Potash Project and Adds More Property to K-3


Geologic Studies Suggest Good Probability of Potash, Uranium, Lead, Zinc and Asphaltite

LAS VEGAS, NEVADA--(Marketwire - Jan. 23, 2011) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that an ongoing exploration program for potash in the Neuquen Basin in Argentina resulted in the identification and acquisition of a second large area highly favourable for potash in the northern portion of the basin in Mendoza Province (see news release dated December 13, 2010).

The Company has acquired by staking four cateos (claims) totalling 30,000 hectares (300 square kilometres) that it believes are highly prospective for potash. The claims, the K-4 Project, may also be prospective for uranium, biogenic sulfur (similar to the Company's Codihue sulfur project), Mississippi Valley type lead and zinc (similar to the Company's Picun Lefu lead zinc project), and for asphaltites (hard bitumens which can, through heating, be a source of petroleum).

Geologic mapping and basin analysis identified this large area as having good potential for salt horizons at depths ranging from 500 m to 2,000 m. The evaporate salt horizons are believed to range from 50 m to 350 m in thickness. Analysis of electric and gamma ray logs from abandoned oil wells is ongoing. Potash (a mineral salt with the chemical formula KCl) typically occurs near the top of thick evaporate salt horizons.

Research also identified additional area adjacent to the K-3 property. The Company staked a 10,000 hectare cateo to cover this prospective zone.

The southern part of the Company's K-3 project lies about 50 kilometers northwest of Vale's giant Potasio Rio Colorado potash mine which has a resource of 2 billion tons of potassium chloride. The K-4 project is located about ten kilometres north of the K-3 project (see attached map below).

"Our geologists have had an ongoing program in this region," stated John Hite, President of Marifil Mines. "Their work reveals that this part of the Neuquen Basin has high potential for potash, lead, zinc, uranium, and asphaltite. We are very pleased to have secured these highly prospective claims, one of four of the Company's potash properties.

The K-1 property has been sold to Allana Resources; K-2, an 80,000 ha project, is subject to a Letter of Intent with Saccharum Energy Corp.; and K-3 is subject to a Right of First Offer to Saccharum. The K-4 project is not subject to the Right of First Offer clause given to Saccharum Energy. However, in keeping with our business plan, the Company intends to farm out or joint venture this property. "

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.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact
Marifil Mines Ltd.
John Hite
President
702.562.4880
info@marifilmines.com
www.marifilmines.com
or
Ascenta Capital Partners Inc.
Hugh Oswald
Investor Relations
604.684.4743 ext. 242 or Toll Free: 1.866.684.4743 ext. 242
hugh@ascentacapital.com



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