Mirasol Upgrades Libanesa and Identifies new Silver - Gold Target adjacent to Cerro Plomo



    VANCOUVER, July 21 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ; Frankfurt:
M8R) is pleased to announce it has identified additional silver/gold-base
metal targets through an MMI soil survey at its 100% owned Libanesa project,
located in the prolifically mineralized province of Santa Cruz, Southern
Argentina.
    Mirasol recently completed a detailed MMI (Mobile Metal Ion) soil survey
covering approximately a 2 square kilometre area centered on the Cerro Plomo
gold/silver-base metal breccia target (see press release of February 28,
2008). The MMI soil survey was designed to test for geochemical leakage from
silver/gold mineralization covered by recent soil and lake bed sediments.
Assays returned highly anomalous results for silver, gold, lead, zinc and
arsenic from six areas outside the known Cerro Plomo Breccia. Peak assay
results include silver up to 33,700 ppb, lead 22,100 ppb and zinc 23,800 ppb(*).
Note that MMI results are typically reported as ppb (parts per billion), where
1000 ppb equals 1 ppm. Anomalous indicator metals including tellurium and
antimony were also reported. (See map link:
    http://www.mirasolresources.com/i/Photos/Lib_MMI_AnomalyFigure.jpg).
    Integrated analysis of MMI soil results with Mirasol's geological and
geophysical results at Libanesa suggest that MMI soil anomalies form two
parallel northeast-trending structural belts associated with a series of
andesitic dykes. The more pronounced northern belt, which hosts the Cerro
Plomo Breccia, is open-ended to the east and west, and produced
silver/gold-polymetallic anomalies, developed intermittently over 1.2
kilometers of strike length.
    Follow up along both belts has identified float and outcrop of
mineralized breccias, vein and gossan adjacent to the soil anomalies in four
areas. Systematic mapping and rock chip sampling of the mineralized belts has
been completed by Mirasol geologists. Assay results are pending.
    These results upgrade the exploration potential of the Libanesa project,
and suggest the potential for new areas of shallowly-covered silver/gold
mineralization adjacent to the high-grade Cerro Plomo Breccia target.
    Stephen C. Nano, Vice President of Exploration for Mirasol, is the
Qualified Person under NI 43-101 who has prepared and approved the technical
content of this news release.

    (*) MMI Data Levelling & Response Ratios: Many statistical processes
require data to be normally distributed. As geochemical data is commonly
log-normally distributed or positively skewed it must first be transformed or
"levelled" so the data conforms to a normal distribution. Often a data set
contains mixed sample populations such as soil samples taken over different
rock or regolith lithologies, stream sediment samples taken from different
mesh size fractions or samples analyzed by different analytical techniques. In
these cases, data should be levelled according to each distinct value for a
group. The method that was used to level the data performs a linear transform
of the data into units of standard deviation centered around zero (the mean
value). This is done to give a "response ratio" (RR) or times background
measure, which shows if that particular sample is greater or less than the
mean value.
    Surface Geochemical Sampling: All assay results reported herein are for
rock and stream sediment samples collected from surface; assay results from
drill core samples may be higher, lower or similar to results obtained from
surface samples.
    Quality Assurance/Quality Control: Exploration at Mirasol's Projects is
supervised by Mirasol's Exploration Manager, Timothy Heenan, and Principal
Geologist, Paul Lhotka, Ph.D., P. Geo., both qualified persons under NI
43-101. All technical information for the Company's projects is obtained and
reported under a formal quality assurance and quality control (QA/QC) program.
Rock chip and stream sediment samples are collected under the supervision of
Company geologists in accordance with standard industry practice. Samples are
dispatched via commercial transport to an ISO 9001:2000-accredited laboratory
in Mendoza, Argentina for analysis. Results are routinely examined by an
independent geochemist to ensure laboratory performance meets required
standards.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of the content of this news
    release.

    %SEDAR: 00021558E




For further information:

For further information: Mary L Little, President and CEO, Tel: (604)
602-9989, Fax:(604) 609-9946, Email: contact@mirasolresources.com, Website:
www.mirasolresources.com


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