VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 22, 2011) - MARIFIL MINES LTD. (News - Market indicator) ("Marifil" or "the Company") is pleased to announce that it has recently received $633,704 from the exercise of warrants issued in past private placements and the exercise of options held by officers and directors of the Company.
All proceeds from warrants and options exercised are being used to acquire new properties in Argentina, to develop our existing mineral properties, and for general working capital purposes.
About Marifil Mines, Ltd.:
Marifil Mines is a Canadian resource exploration company with an aggressive strategy, focused on exploring for and acquiring attractive mineral properties solely in Argentina, home of some of the world's most prolific recent mineral deposit discoveries. The Company has built an impressive portfolio of 20 commodity diversified mining properties, including several showing bonanza grade gold and silver values. Other properties include bulk tonnage precious and base metal targets, and targets for potash, lithium, sulfur and limestone.
Marifil's business model is to enhance its properties through focused early stage exploration, and then employ joint ventures with other mining companies to pay for the risk of further improvements in order to leverage value for its shareholders.
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).
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