Mexivada Mining Corp. : Mexivada Models Gold-Silver Mineralization and Stakes New Claims on Jefferson Au-Ag-Te Property, Nevada

 Thu Apr 26, 2012
Mexivada Models Gold-Silver Mineralization and Stakes New Claims on Jefferson Au-Ag-Te Property, Nevada
 Mexivada Mining Corp. (TSX-V: MNV) is pleased to announce that it conducted preliminary exploration target modeling of gold-silver mineralization on its 100% controlled Jefferson property, Nevada, using Leapfrog 3-D software. The Jefferson property is situated along the Round Mountain-Northumberland Gold Trend, 7 kilometres ("Km") east of the plus 15,000,000 ounce Round Mountain Mine open pit, and near the +1,000,000 ounce Gold Hill gold mine, both owned or controlled by Round Mountain Gold Company ("RMGC"), a venture between Kinross Gold Corp. and Barrick Gold Corp. Newmont's +3,000,000 ounce Northumberland Mine, a Carlin-type, open pitted former gold producing mine, lies 27 Km north of Jefferson. The Jefferson Canyon mining district, one of Nevada's first mining camps, was mined for silver and gold beginning in the late 1870's, and was explored by drilling by Copper Range, Echo Bay, and other companies in the 1980's. It has since lain dormant of any exploration, until the arrival of Mexivada, which has conducted an extensive exploration program starting in 2005, laying the foundation for renewed drilling of gold, silver and tellurium targets. Mexivada feels that the Jefferson Property holds good potential to host a new gold-silver-tellurium mine, with the delineation of several new open pit and underground gold-silver targets. Mexivada has staked an additional 48 claims at Jefferson, increasing the property to 94 unpatented lode claims, approximately 1,850 acres in size.

In 1984, Mr. Richard Jeanne, a qualified person, calculated and reported a Jefferson drill-indicated mineral inventory for Copper Range Exploration Company, of gold-silver on unpatented and patented claims within the Mexivada Jefferson property boundary. Mr. Jeanne classified this historic inventory as a "Mineable Reserve" in his technical report. Cautionary note: These are historic figures which cannot be verified by Mexivada and may not comply with the standards of NI 43-101. They are provided for information only and should not be relied upon for evaluation of the Jefferson property. Mr. Jeanne defined the mineralized areas based on 68 drillholes for the "Pit A" exploration target zone and on 16 drillholes for the "Pit B" exploration target zone, which are controlled in part both by Mexivada and by RMGC. Mr. Jeanne reported that the "Pit A" target zone (see maps at www.mexivada.com) carried an estimated, block modeled proven and probable inventory of 10.45 million tons at 0.007 ounce per ton gold ("oz/t Au") and 1.48 oz/t silver and an open pit stripping ratio of 2.4:1, for 73,150 ounces of gold and 15,466,000 ounces of silver, using "cutoff grades of 0.01 oz/t Au and 0.50 oz/t Ag." The "Pit B" target zone carried an estimated proven and probable mineral inventory of 3.72 million tons at 0.02 ounce per ton gold ("oz/t Au") and 0.13 oz/t silver, for an additional 74,400 ounces of gold and 483,600 ounces of silver. Mr. Jeanne reported his opinion that additional drilling would continue to increase the mineral inventory and potentially the gold-silver grades in both the A and B zones. The total mineral inventory calculation by Mr. Jeanne was more than 14,000,000 tons of mineralized rock, containing more than 140,000 ounces of gold and more than 15,900,000 ounces of silver.

Mexivada compiled the 118 drillholes at Jefferson that are existing and known to Mexivada, and contracted resource modeler P.J. Hollenbeck to evaluate and model these drilling data using Leapfrog 3-D modeling software. This modeling is not as detailed as in using a detailed block model analysis, which is the next step in Mexivada's analysis of the Jefferson property. It does provide an updated preliminary view of the known mineral zones present on the Jefferson property, and a substantial gold-silver mineral inventory was calculated, using gold-equivalent grade shells at a 50:1 gold to silver price ratio. Mexivada will report a detailed mineral zone analysis, with ranges of tonnages and gold and silver grades, upon completion of the block modeling, to better define mineralized zones on the Jefferson property.

Mexivada is continuing to study and model the gold-silver-tellurium-indium mineralization shown to be present at Jefferson, and is preparing a revision to the existing 43-101 technical report on the Jefferson property by David R. Shaddrick, dated April 16, 2008. The potential quantity and grades of mineralization on the Jefferson property is conceptual in nature, and there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in discovery of a mineral resource.

About Mexivada Mining Corp.
Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, joint venturing, and mining high-grade Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and Canada. Mexivada is managed by experienced and successful board members and advisors. For further information, please visit our web site at www.mexivada.com or contact us by e-mail at [e-mail].

On behalf of the Board of Directors,
Richard R. Redfern
President & CEO
Mexivada Mining Corp.

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 and assay results, future exploration work, and the anticipated 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:

Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
[e-mail]
www.mexivada.com