Pre-Feasibility Study For La Bolsa Project 

VANCOUVER, BC - Minefinders Corporation Ltd. reported the results of an independently prepared pre-feasibility study for its La Bolsa gold and silver project in Sonora, Mexico. The property is located 27 kilometres west-northwest of the city of Nogales, near the Sonora/Arizona border.

The study contemplates conventional open-pit mining methods at La Bolsa with low-cost heap-leach processing. Throughput is projected at 8,500 tonnes of ore per day with two-stage crushing and gold and silver recovery achieved through a carbon absorption recovery system. The minable reserve, using prices of $825 per ounce of gold and $14 per ounce of silver contains 316,135 ounces of gold and 4.5 million ounces of silver. Assuming average recoveries of 72% for gold and 7% for silver, the total production from La Bolsa is estimated at 227,600 ounces of gold and 315,100 ounces of silver over a six year mine life. The life of mine reserve strip ratio is estimated at 1.9 to 1 waste to ore and the operating strip ratio is estimated at 1.5 to 1 waste to ore, net of capitalized pre-stripping. "The La Bolsa project has several favourable characteristics, including a low waste-to-ore ratio, amenability to heap-leach processing, and close proximity to infrastructure," said Mark Bailey, President and Chief Executive Officer. "We consider the results of the pre-feasibility study a positive step toward advancing the La Bolsa gold deposit to a production decision. Over the next several months we will consider our options to realize value from La Bolsa." The La Bolsa reserve has been estimated using recent drill data and the previously audited resource model and a National Instrument 43-101 ("NI 43-101") technical report. The NI 43-101 resource estimate was completed by Minefinders and was audited by Messrs. David Linebarger and Ralph Sacrison of Sacrison Engineering who are Independent Qualified Persons as defined by NI 43-101. An updated measured and indicated resource estimation incorporating additional infill drilling was completed in March of 2010 and was used to determine the final reserve estimation. The measured and indicated mineral resource used in the study at a 0.25 grams per tonne ("gpt") cutoff grade totals 18.73 million tonnes. The company's address is 2288, 1177 W Hastings St., Vancouver, BC V6E 2K3, (604) 687-6263, fax: (604) 687-6267.