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Mexivada finds white and fancy colored diamonds at its Kono mine, Sierra Leone

Posted on: Friday, 27 February 2009, 07:30 CST

VANCOUVER, Feb. 27 /PRNewswire-FirstCall/ - Mexivada Mining Corp. (MNV.V) has begun alluvial diamond mining near Koidu Town in the famous Kono mining district of Sierra Leone. Kono is renowned for its high-quality white gem diamonds, but also yields highly attractive green, yellow, and rare blue and reddish colored stones. The adjoining mining property downstream is reporting gem quality white, green, and yellowish diamonds up to 14 carats in weight.

Mexivada manages an artisanal mining partnership that is focused on mining a braided-stream channel gravel deposit that has been determined to be approximately 100 feet in width, with the most diamond-enriched portion being the lowest 12 to 24 inches at the base of the deposit. Mexivada presently employs a crew of approximately 35 local artisanal miners, and to date has spent 4 days in start-up of mining of the main channel gravel.

The partnership started mining and processing diamondiferous gravels using a Hartz jig on a small dump pile of gravel and recovered 3 small gem diamonds totaling approximately 0.3 carat, including 2 colorless stones and a clear yellow octahedral diamond. Mining of the main channel has to date yielded six other diamonds ranging in size between approximately 0.1 to 0.45 carats each, and the diamond indicator minerals corundum and ilmenite, and olivine. The diamonds recovered include a 0.45 carat eye-flawless "dazzling white, blue-flash" gemstone, a 0.28 carat light bluish green gem, and a small orange-colored stone.

Mexivada is very encouraged by the first few days of its diamond mining operations at Kono, and intends to periodically report on progress as the heart of the channel gravel deposit is accessed and processed through our recovery plant system.

This press release and its contents have been reviewed by Richard R. Redfern, Mexivada's President, who is a Certified Professional Geologist and Qualified Person as defined under National Instrument 43-101.

About Mexivada Mining Corp. ---------------------------

Mexivada is a diversified Canadian mining and mineral exploration company focused on identifying, acquiring, advancing, and joint venturing high-grade Diamond, Gold-Silver, and Rare Metal exploration projects in Mexico, Nevada, Sierra Leone, and the ROC Republic of Congo. For further information, including area maps and photos, please visit our web site at www.mexivada.com or contact us by e-mail at info@mexivada.com.

ON BEHALF OF THE BOARD OF DIRECTORS "RICHARD R. REDFERN" Richard R. Redfern President The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 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 and mining potential, drilling assay results, future exploration work, and the expected 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 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.

SOURCE Mexivada Mining Corp.

Source: PR Newswire

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