Mexivada Mining Corp. (MNV: TSX-V), is pleased to announce that its optionee partner California Gold Corp. has begun a program of detailed geophysics at the Mexivada's AuroTellurio Project, located in the La Bambolla gold-tellurium mine area near Moctezuma, Sonora, Mexico, northeast of Hermosillo.

Three drilling targets have been defined on a geological basis, two of them, the southeasterly extension of the La Bambolla vein system and the deep-seated intrusive target area, respectively, will be further investigated using geophysical methods in order to better define the configuration of these targets at depth. A high resolution resistivity imaging technique, CSAMT (Controlled Source Audio-Frequency Magneto Tellurics), will be used to model lithologic contacts and structures. This methodology will be supplemented with CSIP (a similar technique to gradient Induced Polarization) in order to detect sulfide mineralization associated with both, the intrusive contact and the structural features. The results of these geophysical surveys should assist CalGold to select drill targets and specific drill sites more effectively.

PROJECT UPDATES:

Matheson, Ontario Projects:

Mexivada is continuing is data compilation and 3-D modeling of the geology at its Roger, Pete, and Tony properties near Brigus Gold's Black Fox -- Grey Fox mine complex. Additional old data has been found, showing one additional drillhole with a high-grade gold intercept. Mexivada with further report on these projects when the initial data modeling is complete.

Goldstorm, Nevada Project:

The venture between Mexivada and WKM has been officially terminated. Mexivada has found surface float rock indications of a lateral continuation eastward of the Clayton Vein system found in WKM's drillhole WG-1, over a length of at least an additional 350 metres, on 100% controlled Mexivada unpatented claims. WKM controls a 50% interest in the adjoining patented leased land block. Additional field mapping and sampling will be conducted at Goldstorm this summer.

Jefferson Property, Nevada Project:

Mexivada has staked an additional 48 lode claims atop open pit gold-silver-tellurium-indium targets at is 100% controlled Jefferson project, for a current total of 94 claims covering approximately 1800 acres. Jefferson adjoins the Round Mountain +15,000,000 ounce gold mine property of Kinross and Barrick Gold Corp, to the east. A further program of modeling of known, drilled indicated zones of gold-silver mineralization is being conducted, in advance of formulating a new program of drilling that could take place in 2013.

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 verified the information contained in this news release, and evaluated the interpretations contained in this news release. For further information, please visit our web site at www.mexivada.com or contact us by e-mail at [email protected].

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.

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