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Este blog fue creado para publicar novedades sobre la mineria en Argentina, complementando así nuestro web y presencia en redes sociales. Como todas nuestras actividades, apunta a conectar a la comunidad minera argentina y establecer un ámbito de promoción de la actividad en el mundo, generando oportunidades de negocios.
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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.

21 jul. 2011

Marifil Receives Second Payment of $150,000 for K-3 Potash Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2011) - MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that Saccharum Energy Corp. (Saccharum) has sent the Company $150,000 as payment for the pending agreement for the K-3 potash property in Mendoza Province, Argentina.

A second payment of $150,000 for the K-4 property will be placed in escrow and released to Marifil once Saccharum receives evidence that the claims (cateos) have been duly registered to Marifil by the Mines Department of the Province of Mendoza.

Marifil and Saccharum believe that all of the legal issues are close to being resolved and that a final, comprehensive joint venture agreement will be signed, possibly within the next few days.

Mr. Johannes Kingma, President of Saccharum Energy Inc. states, "We are highly encouraged by the quality of this project and are planning an aggressive exploration program including drilling three core holes around discovery hole Md Rbi x-2 which cut 4.5 meters grading 20 to 22% K2O at a shallow depth of 221.5 meters."

Mr. John Hite reports, "Marifil is now in a strong financial position with more than $1 million of income this year and with partners who will be spending millions of dollars on our projects. This year we expect our partners will be drilling our San Roque, Toruel and Catamarca projects.

We are now focusing on replenishing our pipeline of new projects including a copper project, a gold project, and a phosphate project."

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. Walters is a Qualified Person as defined by National Instrument 43-101.

WE SEEK SAFE HARBOR.

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.

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).

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

Contact Information

*

Marifil Mines Ltd.
John Hite
President
(702) 562-4880

Marifil Mines Ltd.
Hugh Oswald
Investor Relations
(604) 684-4743 ext. 243
hugh@ascentacapital.com
www.marifilmines.com

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