Marifil Partners With Southern Copper on Cerro Samenta

VANCOUVER, BC - Marifil has signed an agreement with Southern Copper Argentina (SCA) to acquire a 70% equity interest in the Company's Cerro Samenta porphyry copper project in Salta Province, Argentina.

The agreement is subject to the following terms to earn a 70% equity interest in the property (all dollar amounts shown are in United States Dollars): SCA will pay Marifil a total of $375,000 over four years including $75,000 on signing the agreement; SCA will carry out a minimum $4 million work program on the property over four years; SCA will make the contract payments on behalf of Marifil to two underlying property owners over a six years period.

Additionally, SCA can increase their equity interest from 70% to 80% by providing Marifil with a bankable feasibility study within seven years of the date of signing.