Vancouver, Feb. 25 /PRNewswire-FirstCall/ --
REPUBLIC OF CONGO (Brazzaville) -------------------------------
Mexivada is pleased to report on exploration progress at its exclusive Malambani and Bitsandou Permis de Recherches concessions for gold and diamonds in the Republic of Congo (Brazzaville) ("ROC"). Mexivada's President, Richard Redfern, has returned from Mexivada's Mayoko field office, where he visited the Company's gold discovery at Bingoumi and its new discovery of large diamonds at Madoka. In addition, Mr. Redfern and his Congo management team met on February 19th and 21st in Brazzaville with Congo Mines Ministre Pierre Oba and his staff, and were invited to dinner with the Ministre as a formal introduction into Congolese mining society. Mexivada is one of only two exploration companies that have recently been so honored by Ministre Oba, who complimented the Mexivada team for its gold and diamond discoveries and for its continuous, diligent work efforts on its Congo projects.
Mexivada has applied for new Permis De Recherches for raw diamonds and for gold in the "Vouka" area south of Malambani, where Mexivada has a new discovery of diamonds and kimberlite indicator minerals, in a terrane not previously known to have been explored. Mexivada will provide further updates on these projects in the immediate future.
LA REPUBLICA, SILVER, MEXICO: -----------------------------
Mexivada is pleased to report the completion of an 11-hole Phase 1 HQ core drilling exploration program, with the La Republica vein being present in each hole, and being thicker than expected in the 2008 drillholes. The core fire assay results will be reported upon receipt and compilation.
MOLY DOME, MOLYBDENUM - GOLD, NEVADA: -------------------------------------
Mexivada is pleased to report the successful completion of a 3-hole Phase 1 HQ core drilling exploration program at Moly Dome. All of the samples have been logged, split, and sent to ALS Chemex labs in Elko, Nevada for gold fire assay and 4-acid dissolution induction-coupled plasma analysis of molybdenum, rhenium, silver, and other trace elements, and a few initial results have been returned, confirming the presence of porphyry-type molybdenum-(copper) mineralization and a later phase of gold mineralization of probable Carlin-age. The core fire assay results will be reported upon receipt, compilation, and interpretation of all assays, which effort is ongoing.
GOLDSTORM, GOLD-SILVER, NEVADA: -------------------------------
Mexivada is acquiring additional data on this high-grade Midas- and potentially Carlin-type gold-silver target system, which is located strategically on the Carlin Trend northwest of the Midas Mine, due east of the Twin Creeks-Getchell-Turquoise Ridge mine complex of Barrick/Newmont, and north of the Clover property of Yamana/Atna. Mexivada plans to acquire an adjoining block of mining claims in the target area from a third party.
POKER FLATS, GOLD, NEVADA: --------------------------
Mexivada controls claims, for which it holds drill permits, that lie directly south of Newmont's to-be-constructed Emigrant Springs gold mine in the Carlin-Rain mining district. Gold mineralization in hydrothermal or karst breccias has been found immediately north of the Poker Flats claims boundary, and Carlin-type gold mineralization has been found in prior drilling on the Poker Flats claims. Staccato Gold has been drilling exploration holes just to the northeast of Mexivada's claims; Mexivada plans to wait for their results prior to finalizing its exploration plans for Poker Flats.
OPAL SPRING, GOLD-URANIUM-MOLYBDENUM, NEVADA: ---------------------------------------------
Mexivada controls claims immediately adjacent to Gold Reef International's Texas Canyon project. Gold Reef has been doing substantial mapping and geophysical work on its claims to better delineate the gold and uranium-molybdenum mineralization present in this area, and announced that it had found high grade uranium mineralization cropping out at the surface, adjacent to the Mexivada claims boundary. Gold Reef has announced that it intends to conduct drilling at Texas Canyon in 2008. Mexivada intends to evaluate their results before finalizing its exploration plan for Opal Spring.
This press release and its contents have been reviewed by Richard R. Redfern, Mexivada's President, who is a Certified Professional Geologist and Qualified Person as defined under National Instrument 43-101.
About Mexivada Mining Corp. ---------------------------
Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, and joint venturing high-grade Gold-Silver, Molybdenum, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and the ROC Republic of Congo. Managed by experienced and successful board members and advisors, Mexivada is well financed with no debt. For further information, including area maps, sections, and photos, please visit our web site at http://www.mexivada.com/ or contact us by e-mail at
ON BEHALF OF THE BOARD OF DIRECTORS "RICHARD R. REDFERN" Richard R. Redfern President The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Caution Concerning Forward-Looking Statements
This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling assay results, future exploration work, and the expected results of this work. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals and diamond prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.
Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Mexivada Mining Corp. undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.
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