🕐13.01.11 - 16:54 Uhr

Mirasol Announces Remaining 21 Holes from Virginia Project Phase 1 Drilling- Con
firm a Significant High-Grade Silver Discovery



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Add to your address book or safe list to ensure delivery of email blasts (click for instructions) Mirasol Announces Remaining 21 Holes from Virginia Project Phase 1 Drilling- Confirm a Significant High-Grade Silver Discovery

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VANCOUVER, BC, January 13, 2011. Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) is pleased to announce results for the remaining 21 holes of the Phase 1 diamond drilling program of the Julia Vein at its 100% owned, Virginia Project in Santa Cruz province, Argentina. These results confirm a significant high-grade silver discovery at the project with multiple new drill holes returning intersections between 9 and 26.6 metres with grades between 250 and 1,000 grams per tonne (g/t) silver, which include higher grade internal intervals grading between 1,000 g/t and 6,298 g/t silver.

The 2,200 metre long Julia Vein has now been tested by 28 diamond HQ diameter drill holes (Figure 1) which targeted the structure at 25 and 50 metres below surface. As with the seven previously reported holes, all mineralized material is strongly oxidized with abundant iron oxides. The only sulphide observed is galena in minor amounts.

The Julia North segment of the structure has now been tested by 14 holes and dips at 50 to 80 degrees to the west. Better intersections from this round of holes (Table 1) include VG-014 which returned a true width of 26.59 metres of 348 g/t silver including a higher grade interval of 5.91 metres with 1,208 g/t silver, and VG-028, located 498 metres south of hole VG-014, with a true width of 9.33 metres at 654 g/t silver, including a higher grade interval of 5.05 metres of 1,152 g/t silver.

These, with previously announced results from Julia North, demonstrate the continuity of mineralization over a 500 metre strike length and as much as 60 metres down dip. The majority of holes have returning impressive widths and silver grades, in most cases exceeding widths and grades anticipated from surface channel sampling. The mineralization is clearly open to the north and down dip.

New holes on Julia Central and Julia South also contained significant intercepts. The widest of these was at Julia South where VG-023 intersected a true width of 7.57 metres containing 245 g/t silver including a higher grade interval of 2.62 metres of 560 g/t silver (Figure 1).

Julia South mineralization continues to be hosted by competent rock with good core recoveries. At Julia Central and Julia North, faulting in and around the mineralized zone continues to produce variable core recoveries. Methods used in logging and quality control are consistent with industry best practice as described in the previous news release. (December 16, 2010).

New holes have confirmed the trends indicated by the initial seven holes of Phase 1. As a group, the 28 holes have provided consistent intercepts of economic interest. Mirasol has resumed surface work on Virginia with a program of mechanical trenching commencing on other veins and targets surrounding the Julia Vein. It is Mirasols intention to recommence drilling at the Virginia project during the first quarter of 2011.

Table 1. Julia Vein Drill Hole Results

Hole From (m) To (m) Core Length (m) True Width (m)1 Silver (g/t) 2,3 Silver grade x true width
(g/t * m) Core Recovery (%)4 Julia North VG-008 18.90 21.00 2.10 1.82 107 195 85 VG-008 30.00 36.00 6.00 5.20 106 548 40 VG-014 5.00 32.00 27.00 26.59 348 9,242 67 including 18.00 24.00 6.00 5.91 1,208 7,138 17 VG-015 16.00 24.00 8.00 7.52 108 815 72 and 30.00 46.00 16.00 15.04 456 6,854 46 including 31.00 36.00 5.00 4.70 1,215 5,708 41 or combined 16.00 46.00 30.00 28.19 279 7,875 54 VG-016 20.45 43.00 22.55 19.91 368 7,319 66 including 32.00 36.00 4.00 3.53 1,627 5,745 66 VG-017 30.00 43.00 13.00 10.38 892* 9,260 60 including 35.90 37.00 1.10 0.88 6,298* 5,533 75 VG-018 34.80 35.90 1.10 0.78 304 236 82 VG-019 no significant assays VG-025 55.25 78.00 22.75 18.86 249 4,689 65 including 62.00 66.70 4.70 3.90 872 3,399 56 VG-026 62.45 76.57 14.12 11.71 91 1,070 64 including 66.70 69.00 2.30 1.91 187 357 63 VG-027 70.00 81.90 11.90 9.12 716 6,531 75 including 75.00 78.00 3.00 2.30 1,761 4,046 90 VG-028 60.00 72.00 12.00 9.33 654 6,097 72 including 63.10 69.60 6.50 5.05 1,152 5,821 64 Julia Central VG-009 39.40 41.80 2.40 1.70 85 144 53 VG-013 33.00 36.80 3.80 2.73 462



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