Mexivada Mining Corp. : Mexivada Formulates Mag Dome Open-Pit Gold Target on Poker Flats Property, Adjacent To Gold Standard Railroad Property, Nevada

 Thu Mar 29, 2012
Mexivada Formulates Mag Dome Open-Pit Gold Target on Poker Flats Property, Adjacent To Gold Standard Railroad Property, Nevada
 Mexivada Mining Corp. (MNV - TSX-V) is pleased to announce that it has formulated the new "Mag Dome" gold target on its Poker Flats property in the Railroad-Bullion subdistrict of the Carlin Trend, Nevada. Poker Flats lies adjacent to its neighbor Gold Standard Ventures Corp. ("GSV"), which has made new discoveries of high-grade Carlin-style gold mineralization at its Railroad project, including a core drilling intercept of 56.4 metres of 4.26 grams per tonne gold from 169.2 to 225.6 metres in its drillhole RR11-16. Gold Dome is an open-pit configuration gold target that has never been tested by previous drilling, but shows great geophysical similarities to the Bullion-Railroad targets of GSV. Mexivada has optioned the Poker Flats property to its partner, Spartan Gold Ltd (SPAG - OTCBB), which may earn up to a 75% interest in the Poker Flats property.

The Gold Dome gold target on the Poker Flats property lies due south of Newmont Mining's new Emigrant open pit gold mine, which is now under full-scale construction for open pit heap leach gold processing. Mexivada and Spartan have 2 main north-south structural gold targets on the property, extending southward from the Emigrant Mine area. The Gold Dome target area lies along one of the Emigrant Mine-parallel fault feeder zones adjacent to a strong magnetic "high", interpreted by Mexivada to be an intrusive system perhaps similar to those at the Bullion Mine. It is felt that the Gold Dome target offers excellent potential for the discovery of a shallow-depth Railroad-style gold system, in open pit configuration, near the ground surface. Spartan and Mexivada control the private property on which this Gold Dome target lies. An exploration program is being formulated for this Gold Dome target area, and for the "Poker" target area due north of Gold Dome. Carlin-style collapse breccia-style gold mineralization has been found and sampled at the surface, along the northwest boundary of the Poker Flats claims, and one gold-mineralized drillhole was completed on the Poker target in the 1980's by Franco Nevada Mining Corp., under the direction of Dr. Ken Snyder.

The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information contained in this news release, and evaluated the interpretations contained in this news release. For further information, please visit our web site at www.mexivada.com or contact us by e-mail at info@mexivada.com.

Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, joint venturing, and mining high-grade Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and Canada. Mexivada is managed by experienced and successful board members and advisors.

On behalf of the Board of Directors,
Richard R. Redfern
President & CEO
Mexivada Mining Corp.

Caution Concerning Forward-Looking Statements

This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work, including projected possible cashflows. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals and diamond prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.

Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Mexivada Mining Corp. undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contacts:

Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
info@mexivada.com
www.mexivada.com