Updated Resource Estimate For Joaquin Project

VANCOUVER - Mirasol Resources Ltd. reported the second National Instrument 43-101 resource estimate for the Joaquin Silver-Gold Project, Santa Cruz Province , Argentina , as prepared by an independent consultant for Mirasol's joint venture partner, Coeur d'Alene Mines. The estimate is an in-pit resource for the La Negra and La Morocha deposits, and includes 39.7 million ounces of silver in the measured and indicated categories, and 31.7 million ounces of silver in the inferred category, when both oxide and sulphide mineralization are combined for the two adjacent deposits.

The estimate was prepared according to NI 43-101 standards and in accordance with CIM Standards on Mineral Resources and Reserves: Definitions and Guidelines (CIM 2005) by independent consulting firm NCL Ingenieria y Construcciùn Ltda. ("NCL") of Chile , which was selected and contracted by Coeur, and who also performed the original NI 43-101 resource estimate.

Also, a significant amount of infill diamond drill hole data was not incorporated into the current estimate due to time constraints, particularly from the La Morocha deposit.  Mirasol has received assay results from many of the omitted holes, that include the best hole (DDJ-277) containing a 35.3 metre core length intercept of 704 grams per tonne (g/t) silver and 0.24 g/t gold, which includes 15.3 metres of 2,372 g/t silver and 0.90 g/t gold.  The infill holes in the Morocha deposit confirm grade and continuity, and Mirasol expects their eventual inclusion will further increase the confidence classification of the resource, and perhaps also increase the average silver grade.

Geological data was used to separate the mineralization into oxide and sulphide types, and discreet mineralized bodies were defined by geology and grade shells to spatially limit the assay data. At Morocha, a single tabular body, dipping moderately north-easterly, was defined.  At La Negra, a sub-vertical feeder and sub-horizontal manto (planar tabular) bodies were defined.

The in-pit resources have been computer-modeled by Whittle  Pit mine shells designed using the technical parameters determined by Coeur's Technical Services Group and accepted by NCL (Table 2).  They include Coeur's current estimates of the operating costs and parameters.  Sufficient work has not yet been done to classify the resources as reserves and the parameters used in Table 2 are considered to be preliminary in nature.  The resources are not demonstrated to have economic viability at this stage, but are believed to have a reasonable probability of doing so, when required additional engineering studies are completed.