Mansfield Commences Drilling Arizaro Gold-Copper Porphyry Discovery

VANCOUVER, BC - Mansfield Minerals Inc. has commenced a 3,000 metre diamond drilling program on its Arizaro gold-copper porphyry discovery in Argentina. Arizaro is located immediately adjacent (3 km southeast) to the Company's Lindero gold heap leach project. A full bankable feasibility study on the Lindero gold project has been commissioned with completion anticipated in early 2013. This final feasibility study will be based on an open pit heap leach gold mine.

The ten-hole drilling program at Arizaro will target lateral and depth extensions of the shallow (less than 300 metres vertical) gold mineralization previously encountered.

In addition, metallurgical testing of typical mineralization at Arizaro has commenced to determine suitability for treatment at the planned adjacent Lindero gold heap leach processing facility.

Paul Matysek, CEO and President, commented "As the Arizaro deposit exhibits a deeper oxide weathering profile and similar gold grades to the adjacent Lindero deposit, our objective is to define shallow high grade oxide gold resources for supplementary feed to the Lindero project."

The Arizaro porphyry body was identified prior to the discovery of the Lindero gold deposit in 1999. Management initially believed that the surface alteration zone reflected a more deeply eroded porphyry system. During a field traverse in late 2010, a well mineralized copper-gold breccia fragment was discovered in an otherwise un-mineralized fragmental body. The mineralized fragment was interpreted to be sourced from a mineralized system at depth. Subsequent drilling confirmed that Arizaro is not deeply eroded and possesses significant exploration potential.