VANCOUVER, Nov. 20 /CNW/ - Mirasol Resources Ltd. (TSXV: MRZ) announces
that it has finalized a definitive Exploration and Joint Venture option
agreement with Coeur d'Alene Mines ("Coeur") (NYSE: CDE; TSX:CDM) for
exploration of Mirasol's 100%-owned Sascha and Joaquin gold-silver projects.
The Sascha and Joaquin properties, located in Santa Cruz Province, southern
Argentina, host epithermal gold and silver mineralization with multi-ounce
values at surface, contained in multiple quartz vein systems.
Terms of the agreement are summarized in a Mirasol news release dated
September 14, 2006. Coeur has the option to earn an initial 51% in both
projects by expending a total of US$8,000,000 in exploration over four years,
of which $800,000 would be spent in the first year, and making cash payments.
Coeur may elect to fund a bankable feasibility study to increase its interest
to 61%, at which point Mirasol may elect to maintain a participatory 39%
interest or permit Coeur to increase its interest to 71% by providing mine
financing at commercial terms to Mirasol.
"We are very pleased to have Coeur, a highly respected precious metals
miner, as our partner for exploring the Sascha and Joaquin Projects," stated
Mirasol's President and CEO, Mary Little. "Coeur adds much benefit through its
valuable local experience and for future project development."
Coeur d'Alene Mines is a top tier international silver producer whose
South American operations include the Martha silver mine in southern Argentina
and the Cerro Bayo silver-gold mine in southern Chile, as well as the large
development-stage San Bartolome silver project in Bolivia.
Mirasol Resources Ltd. (TSXV: MRZ) is an exploration and development
company focused on discovery and acquisition of new, high-potential precious
metals deposits in the Americas, applying leading edge technology and a proven
track record for successful discovery. Mirasol's wholly-owned subsidiary,
Argentina SRL, currently holds 100% of the rights of nine exploration projects
totaling more than 170,000 hectares and is a major mineral landholder in Santa
Cruz Province, Patagonia, southern Argentina. Mirasol offers shareholders
access to growth from the early stages, a portfolio of 100%-owned high quality
projects in various stages of exploration and a focus on emerging regions with
high potential for discovery.
Quality Assurance/Quality Control: Exploration at the Sascha and Joaquin
Projects is supervised by Mirasol's Exploration Manager, Timothy Heenan, and
Vice President Exploration, Stephen Nano, both qualified persons under NI
43-101. All technical information for the Company's Argentina projects is
obtained and reported under a formal quality assurance and quality control
(QA/QC) program.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.
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