Vancouver, British Columbia, February 15, 2012 - Marifil Mines (TSXV:MFM) has released drill results from joint venture partner NovaGold Resources from the Phase 2 drill program on its San Rogue gold prospect in Argentina.

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Marifil has built an impressive portfolio of more than 20 properties, consisting of precious metals, base metals and potash/fertilizer projects in Argentina, with several properties containing bonanza grade gold and silver values.

One of these properties, the 70 thousand hectare San Roque project in Rio Negro, was joint ventured to NovaGold in June 2010. NovaGold, for those of you unfamiliar with the company, is capitalized in excess of 2 billion dollars, and claims to have one of the industry's best exploration teams, making them a pretty impressive partner.

Highlights from NovaGold's Phase 2 drill program included 35 metres grading 2.27 grams per tonne gold, 116 metres grading 1.77 grams per tonne gold equivalent and 65 metres grading 3.66 grams per tonne gold equivalent.

NovaGold's Phase 2 drilling consisted of 19 holes totalling approximately 4,300 metres, of which 961 metres above the cut-off grade, assayed an average of 1.94 grams per tonne equivalent gold, comprising gold, silver, indium, lead and zinc.

There are now 108 holes totalling 15,837 metres drilled on the San Roque property. Every hole intercepted mineralization, although some were below the cut-off grade. Mineralization is open in all directions and at depth, and equally important, mineralization frequently starts at surface and has been followed to the bottom of the deepest holes.

Marifil believes these are positive results and constitute an important discovery of a large disseminated precious metal rich polymetallic deposit which will probably be amenable to low cost bulk mining.

NovaGold has earned a 49% interest in the project, giving it the right to increase its ownership to 70%. They are constructing a 3D model for added interpretive modeling and potentially resource estimation as the project moves forward.

Richard Walters, Marifil's Executtive Vice President stated, "San Roque has evolved through 6 successive drilling programs into a very valuable asset for Marifil. It is now a substantial mineral deposit discovery that may well prove to be an ore body as work continues."

Marifil currently trades at $0.19 per share, and with 61 million shares outstanding, is capitalized at $12 million dollars.

For a more information on Marifil Mines, and its many projects, and to view a drill location map, please visit their website at www.marifilmines.com, or contact Hugh Oswald at 604-684-4743 ext 243 or email hugh@ascentacapital.com.

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