Mirasol Resources Ltd. reported on progress of the exploration program and drill results from the maiden drill program launched at the Vania prospects on the Inca Copper-Gold Project ("Inca Gold") in Chile. The Vania North and Vania South zones are controlled along a major north-northeast regional structural corridor which hosts the Inca del Oro porphyry to the south and the expansive El Salvador mining district to the north. The maiden drill program at Vania was designed to test for potential concealed porphyry intrusive bodies under transported alluvial/colluvial gravel cover.

The drill targets were supported by the recently completed Airborne Mobile MT survey, IP Ground geophysics, geochemical soil survey and select outcropping high-grade rock chip samples peripheral to the concealed targets. Two drill holes were completed, with the first drill hole at Vania South (VANS-DDH-001) reaching a depth of 580 meters, and a second drill hole at Vania North (VANN-DDH-001) reaching a maximum depth of 346 meters. Inca Gold, which hosts the Vania Prospect, is a large 16,300-hectare property package located at a relatively low altitude of 2,300m (ASL) in the Paleocene belt of Chile with year-round access and nearby infrastructure.

Pursuant to an Agreement between Mirasol and affiliates of Newmont Corporation ("Newmont"), Mirasol has the option to earn-in 100% of Inca Gold, subject to a 1.5% NSR royalty. The drill hole targeting the Vania North prospect (VAN-DDH-001) penetrated 180 vertical meters through Atacama Formation, with gravels and intercalations of ignimbrites, appearing as a conductive layer in IP-PDP resistivity sections. The mineralized section with elevated copper values is coincident with a high chargeability zone, albeit low values (3 mV/V).

The extensive Atacama gravel cover may be acting as a buffer, affecting the response. Starting at a depth of 265 meters, the drill hole intercepted a dioritic intrusive with silica-magnetite alteration, accompanied by the presence of pyrite, and lesser chalcopyrite. The drilling intercepted 34 meters with 0.0205% copper (205 ppm) and a deeper interval showed another zone of interest, giving 34 meters, including 0.0205% copper (205 ppm).

The predominant "green rock" alteration in the drillhole corresponds to chlorite, epidote, and calcite, indicating propylitic alteration, typical of distal or peripheral zones of the porphyry alteration model. The alteration identified in these copper-anomalous intervals corresponds to chlorite-sericite and is characterized by spectroscopy data showing chlorite and phlogopite, potassium and magnesium-rich micas, as well as the presence of quartz-pyrite-magnetite, possibly related to a potassic alteration zone at depth. The mineralized sections with elevated copper values, are coincident with a chargeability zone, although the chargeability values are not very high (3 msec).

This anomaly is located 180 meters beneath the Atacama gravel cover, which may be acting as a buffer to the chargeable response.