Mexivada Discovers New Clorinda Zone of Mineralization South of Dome Mine at Tim

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Dear Agoracom Family,

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Mexivada Discovers New Clorinda Zone of Mineralization South of Dome Mine at Tim

posted on Oct 17, 2011 02:39PM

Mexivada Discovers New Clorinda Zone of Mineralization South of Dome Mine at Timmins, Ontario

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 17, 2011) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to report that it has discovered a significant new zone of quartz-ankerite veining mineralization on its Golden Porcupine property, along the Deloro Fault zone sector, just south of the Dome-Aunor-Delnite mines complex of Goldcorp and other local companies at Timmins, Ontario. New trenching has exposed new outcrops with a zone of quartz veining, presently known to be up to 6 metres in width, as shown on a photograph on Mexivada's website at www.mexivada.com. Metallic mineralization is found in outcrop, including fine-grained pyrite in massive to banded vein quartz. The lateral extent of this system of veining is interpreted to be at least 650 metres in strike length, where it may have been intersected in Mexivada's latest drillhole GP11-6, and may be over 1 kilometre in length. Mexivada is further exposing the outcrop zone, and is mapping and sampling it. This target will be drilled upon completion of this mapping program.

Mexivada is continuing its core drilling program at Golden Porcupine. Mexivada has set up work and storage facilities in Timmins, where core logging and sawing is taking place. More results of the Golden Porcupine work program will be reported on a regular basis.

Mexivada also is conducting work in the Matheson area in Hislop Township, near the Ross Mine, which will be further reported upon shortly. A second drill rig may be contracted for work in this area by the end of October. Mexivada is using flow-through cash funds in Mexivada's treasury to fund a plus 5,000 metre drilling program in Ontario in 2011.

The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has examined and studied the Dome, Delnite, and Pamour mines, verified the information herein, and evaluated the interpretations contained in this news release.

About Mexivada Mining Corp.

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