Marifil Mines Reports New Drill Information From K-2 Potash Project
To Receive NI 43-101 Report for Newly Acquired Potash Property
Spokane, Washington -- July 8, 2008 -- Marifil Mines Ltd. (TSXV: MFM) is pleased to announced today that further to the news release of June 26, 2008, detailed review of the drill hole data confirms economic amounts of potash are present in both drill hole Conin X1 and in drill hole Pillantoqui X1 on the K-2 project. The K-2 project is located in the Company's newly acquired, 100 percent owned 100,000 hectare potash property in the Neuqu�n Basin, Argentina. Hole Conin X1 (figure 1) contains 5.8 meters grading 15.22% potash (K 2O), including 2.0 meters at 20% K 2O, and an additional intersect of 5.4 meters of 11.5% K 2O. Highlights from hole Pillantoqui X1 (figure 2) include 10 meters of 11.7% K 2O and 1.6 meters of 14% K 2O. The potash grades are presumed accurate to +/ - 0.5 percent. The analysis is based on electric logs of oil well drill holes and is corrected for hole diameter, mud density, and other parameters. Similarities in the mineralization found in Conin X1 and Pillantoqui X1 (figure 3) suggest a strike of at least 13 kilometers of potash horizon. Marifil has had a consulting geologist on site and expects to receive an NI 43-101 report within the next two weeks. Mr. John Hite reports, "This strong correlation between the two holes 13 kilometers apart indicates that we may have discovered a major potash deposit." To date, Marifil has identified two potash horizons in the same basin as Rio Tinto's Rio Colorado potash mine. Rio Tinto's Rio Colorado mine has a geologic resource of two billion tons of KCl. KCl is the chemical composition of the mineral sylvite, which is highly soluble in water.
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Figure 1: Conin X1
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Figure 2: Pilloantoqui X1
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Figure 3: Conin-Pillantoqui Correlation
| This press release has been reviewed and approved by John Hite, President of Marifil Mines 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.About Marifil Mines Ltd.Marifil Mines Ltd. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "MFM" with approximately 34.5 million shares issued and outstanding. Marifil operates under a Joint Venture Model whereby the company acquires properties, adds value by geologic mapping, trenching, geophysics, and/or drilling and then seeks qualified partners to earn their interest by advancing the property to production. Castillian is earning an interest in the Las Aguilas nickel-copper-PGM project in Argentina from Marifil. For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR www.sedar.com or at Marifil's Website www.marifilmines.com. For Further Information Contact:
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Investor Relations: Anthony Srdanovic, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 242 Phone: 1.866.684.4743 ext. 242 Email: anthony@ascentacapital.com
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