Phase IV Drilling At Virginia Silver Project 

VANCOUVER - Mirasol Resources Ltd. has commenced a new season of diamond drilling at its 100%-owned Virginia Silver Project, Santa Cruz Province, Argentina. This program comprises the Fourth Phase of drilling at Virginia and will include a minimum of 5,000 metres of diamond core drilling.

Phase 3 drilling was completed in late December 2011 and comprised over 5,900 metres in 55 core holes, raising the total drilled at Virginia to over 15,300 meters in 172 holes. Phase 3 drilling was focused to test new veins and to expand the projectâ•’s potential for discovery of additional shallow oxide silver deposits, principally in the areas where successful scout holes were drilled during Phase. Assays remain pending from a number of samples which will be reported on completion of quality control analysis.

Initial Phase 4 drilling is designed to further test extensions of four silver deposits, the Julia North, Central and South veins and the Naty Vein, defined by Phases 1 and 2 drilling. Extensions of these veins will be tested along strike and down dip. Phase 4 drilling may return to the Martina and Ely veins which have shown promising visual indications in the Phase 3 drill holes.

In parallel with Phase 4 drilling, a program of surface prospecting, sampling and trenching will be undertaken concurrently to explore the large prospective area indicated by IP gradient array geophysics and ground magnetics, and preliminary surface reconnaissance. Mirasolâ•’s in-house geophysical team has further extended gradient array IP coverage. The surface exploration program is designed to identify and prioritize additional targets for drilling in late 2012.