Mexivada Drilling Discovers Two High-Grade Gold Zones, Roger Property, Matheson, Ontario-Interim Report

Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) ("Mexivada"
or the "company") is pleased to announce it has discovered at least 2 new zones
of significant high-grade gold mineralization with local gold assay values up to
73.1 grams per tonne (g/t Au) in drilling at the Roger property, as presented
below. The Roger property is located adjoining the Grey Fox property (the Gibson
and 147 zones of gold mineralization) owned by Brigus Gold at Matheson, Ontario.
Mexivada successfully completed its Phase 1 four-hole NQ core drilling program
on the property, drilling 1,669 metres of NQ wireline core at -45 degree angles.
The company has to date logged approximately 80% of the core, and approximately
three quarters of the footage has been cut and sent to ALS Laboratories in
Timmins for gold assaying. Due to erroneous small-sample-charge assays a number
of low assay results were received, despite the presence of visual gold
mineralization in the core. For example, one sample from hole R12-1 assayed
0.207 g/t gold by regular assay, but 23.5 g/t gold using screen fire assay.
Areas of the core showing visual gold mineralization are being re-assayed using
screen fire check assays for large particulate gold. Thus, extensive resampling
and re-assaying of the core, including the Chevron core, will be done. The true
widths of the zones of gold mineralization are not yet known. 


The mineralization at Roger shows some visual resemblances to
"flow-mineralization" at the Black Fox Mine of Brigus Gold. Several additional
areas with gold mineralization remain to be drill tested on the Roger property,
and Mexivada feels that the Roger property shows good indications of being able
to contain gold deposits of sufficient size and grade to be of interest to
larger companies. Roughly 30m of gravels overlie the bedrock at Roger, which
could be removed if sufficient open pitable gold mineralization is found on the
property. Mexivada enjoys cordial relations with its neighbours Brigus Gold and
St. Andrew Goldfields.


New drilling highlights include: 

-- R12-1 which contained a gold-mineralized zone 8.4 metres in core length which
contains intervals grading 10.4, 11, and 23.5 g/t gold, with not all samples
returned yet; and 


-- R12-3 which contained 1.3 metres grading 21.37 g/t gold -- Including 0.3
metres grading 73.1 g/t gold; and 0.5 metres grading 12.6 g/t gold further
downhole. 


Chief Executive Officer, Richard Redfern commented, "The results confirm the
presence of new gold zones not previously discovered by Hollinger nor by
Chevron, by systematic drilling. More drilling is required to block out mineral
resources on the Roger property, using screen fire gold assays to better
determine the gold grade where larger particles of gold exist." 


Drillholes 1 and 3, while assaying is not yet completed, have to date returned
local strong gold assay values, and at least two new zones of high-grade gold
mineralization have been discovered in them, away from the gold zones discovered
by Hollinger Consolidated Mines in 1933 and by Chevron Minerals in 1988-89.
Drillhole 4 is still being logged, sawed, and certain samples will be sent off
for routine 50g charge gold fire assays. The 50g gold fire assays yield more
reliable results than do normal 30g charge assays, due to the greater weight of
rock assayed. Where observable visual gold mineralization is seen, the sample is
sent to ALS for screen fire gold assays, which technique is designed to better
catch larger gold particles present due to the "nugget effect" of gold in
general, with a still larger sample size used. Mexivada will be re-logging and
re-sampling the Chevron drill core to re-examine the reported gold zones, and
will report further on the core logging and assays as the Phase 1 work program
is completed. 


The uncut results from the drill holes are summarized in the table below:



----------------------------------------------------------------------------
                                                    Screen                  
                                         50g FA       Fire                  
----------------------------------------------------------------------------
                   From    To  Interval   uncut       Gold  Comments        
----------------------------------------------------------------------------
Hole_ID             (m)   (m)       (m)  g/t Au     g/t Au                  
----------------------------------------------------------------------------
R12-1              53.5  54.5       1.0    0.24                             
----------------------------------------------------------------------------
                  246.9 247.6       0.7    1.05                             
----------------------------------------------------------------------------
                  383.6 384.5       0.9    1.85     in lab  in lab          
----------------------------------------------------------------------------
                    and                                                     
----------------------------------------------------------------------------
                  303.5 311.9       8.4    2.64     in lab  in lab          
----------------------------------------------------------------------------
              including                                                     
----------------------------------------------------------------------------
                  304.6 308.4       3.8              10.60  2 in lab, visual
                                                            gold mineralized
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
R12-2             297.0 298.0       1.0    0.48                             
----------------------------------------------------------------------------
                  305.5 306.5       1.0    0.49                             
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
R12-3             188.3 191.3       3.0             in lab  visual gold     
                                                            mineralization  
----------------------------------------------------------------------------
              including                                                     
----------------------------------------------------------------------------
                  189.5 190.8       1.3              21.37  uncut; 0.5 m @  
                                                            73.1 g/t Au     
----------------------------------------------------------------------------
                  266.5 267.5       1.0    0.34                             
----------------------------------------------------------------------------
                  312.7 316.4       3.7  in lab     in lab  visual gold     
                                                            mineralization  
----------------------------------------------------------------------------
              including                                                     
----------------------------------------------------------------------------
                  313.7 314.2       0.5   12.60     in lab  visual gold     
                                                            mineralization  
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
R12-4             NO DATA YET                                               
----------------------------------------------------------------------------



The Roger property is located 400 metres southwest and 750 metres south of
Brigus Gold's 147 and Gibson gold zones, respectively. The Roger property also
is adjoined on the east side by property controlled by St. Andrew Goldfields
Ltd., which appears to contain a southern extension of the 147 Zone. The Roger
project is being managed on-site by Mexivada's geologist, Kimberley Norman,
P.Geo. Mexivada has the option to earn up to 60% working interest in the Roger
property from Romios Gold Resources Inc. (see Press Release dated January 11,
2012).


Goldstorm Project Update

Mexivada's Chief Consulting Geologist has begun the detailed re-logging and
re-sampling of the drill core from the Goldstorm property in Nevada, located
northeast of Newmont Mining's large Twin Creeks Mine and northwest of its Midas
Mine. High-grade, high-level Midas-style gold-silver mineralization occurs in
hole G10-1, which assayed 9.29 grams per tonne gold ("g/t") and 72.6 g/t silver
between 66-67 meters. Several other intervals also show vein mineralization,
between 36 and 136 metres of the core length, with local grades up to 4.29 g/t
gold over 1 metre intervals. Mexivada is working on transferring the BLM
exploration permit ("Notice of Intent") from West Kirkland Mining, through the
Nevada Division of Minerals. This permit transfer will allow Mexivada to
re-start drilling at Goldstorm, likely without further permitting work. 


Resignation of Director

Allen Ambrose has resigned from Mexivada's board of directors because of his
need to reduce the number of directorships he is involved with. The board thanks
Mr. Ambrose, for his many years of service and invaluable support.


The Company's President and CEO, Richard R. Redfern, M.Sc., a Certified
professional Geologist and 'qualified person' for the purposes on National
Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified
and approved the information contained in this news release.


About Mexivada Mining Corp.

Mexivada is a diversified Canadian mineral exploration company focused on
identifying, acquiring, advancing, drilling, and joint venturing high-grade
Gold-Silver and Rare Metal exploration projects in Nevada, Canada, and Mexico.
Mexivada is managed by experienced and successful board members and advisors.
For further information, with maps and sections for Mexivada's properties,
please visit our web site at www.mexivada.com or contact us by e-mail at
[e-mail].


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.
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 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mexivada Mining Corp.
Investor Relations
1-604-568-7726 or 1-866-922-6774
[e-mail]
www.mexivada.com