Discovery of Gold and Silver System At La Virginia Project 

VANCOUVER, BC - Minefinders Corporation Ltd. reported that initial drilling has resulted in the discovery of a gold and silver mineralized system on the La Virginia zone of the Company's 100% owned La Virginia Project.

Assay results from the first nine drill holes include intervals of 2.0 metres assaying 12.17 grams per tonne (gpt) gold ("Au") with 51.5 gpt silver ("Ag") in LV 10-4C, and 1.1 metres of 5.75 gpt Au with 434.3 gpt Ag in LV 10-8C. More widespread intercepts include 27.0 metres containing 1.01 gpt Au with 89.9 gpt Ag in LV 10-7C with internal higher grade intervals. "We are encouraged by this new discovery, particularly as it is in the initial stages of the first drill program ever conducted at La Virginia. As our understanding of this large mineralized system evolves, we will expand our drilling program" commented Tench Page, Vice President, Exploration.

Mineralization occurs in epithermal quartz-chalcedony stockworks, veins and hydrothermal breccias with widths that can vary from one metre to greater than 30 metres. Drill intercepts in the highest portions of the system display high-level alteration and mineralogy including abundant chalcedony suggesting that for most of the zone the bonanza gold and silver portion of the system remains intact at depth. Sulfides, including occasional silver sulfides, are common in the mineralized zone with mixed oxidation occurring throughout most of the zone tested to date.

Approximately 2,770 metres of core in 11 widely spaced drill holes has been completed along 3 kilometres of the overall system. Drill holes LV 10-7C, LV 10-8C, and LV 10-9C tested the same section of mineralized structure at progressively greater depths and results indicate vertical continuity of mineralization over more than 200 metres of depth. Current drilling is testing progressively farther north as access is gained via the construction of new drill roads.

Initial exploration of historical workings at the La Virginia zone defined a mineralized trend that extends for a total strike length of up to fifteen kilometres. The drilling program, the first ever conducted on this zone, commenced in April 2010 and is focused on testing the potential depth extent of high-grade mineralization exposed over a strike length of 5 kilometres and width of two kilometres within the central portion of the zone. The ongoing drill program will continue to target the central portion of the La Virginia zone where most of the historic workings are located.

The La Virginia project is located approximately 220 kilometres east-northeast of Hermosillo, Sonora, Mexico and is 100 kilometres north-northwest of the Company's Dolores mine. The land package encompasses more than 34,000 hectares within a geologic environment similar to that of the Dolores gold and silver deposit and comprises seven separate large mineralized areas identified by the Company.

The company's address is 2288-1177 W Hastings St., Vancouver, BC V6E 2K3, (604) 687-6263, fax: (604) 687-6267.