Mexivada discovers five new gold zones at Mayoko, Republic of Congo

    TSX-V: MNV
    Frankfurt: M2Q

    VANCOUVER, March 3 /CNW/ - Mexivada is pleased to report on gold
exploration progress at Mayoko in the Republic of Congo-Brazzaville ("ROC").
    Two gold belts, the North Gold Belt and the South Gold Belt, extend
through Mexivada's exclusive Malambani Permis de Recherches concession for
gold and connected substances. Mexivada has discovered one new gold zone in
the South Gold Belt and four new gold zones within the North Gold Belt, where
chip samples contained gold values of up to 11 grams per tonne gold in 1-metre
("m") channel samples in altered, sulfidized banded iron formation ("BIF")
host rocks at the Lemagna prospect. Two of the new zones contain anomalous
gold-bismuth mineralization, which could be indicative of "Fort Knox"-type
intrusive-related open pit gold targets. These localities are shown on a map
posted to Mexivada's website at

    NORTH GOLD BELT - Lepindji-Bingoumi-Ngouhada-Lemagna Prospects: A series
of gold prospects have been found along the +15 kilometre ("km") long North
Gold Belt, tracing "leads" of placer gold up to their source outcrops.
Mexivada's prospectors filled up a glass Coca Cola bottle with gold nuggets
and flakes at the "Coke Bottle" zone near the Bingoumi prospect, and
subsequent hand trenching work delineated a +20m true width of magnetite-rich
Archean BIF, which is one of the main host rocks for gold mineralization at
Mayoko. Samples of oxidized BIF at Bingoumi were crushed and panned on site,
which yielded recovered gold contents of more than 30 grams per tonne of rock,
with gold aggregates up to 4.4 grams in weight. The zone of auriferous BIF
(see photos on website) extends northeast for at least 2.8 km to Lemagna, and
possibly an additional 2 km to the Tsopo prospect, for which a Mobile Metal
Ion ("MMI") geochemical survey has delineated a large gold-(bismuth) soil
anomaly. Tsopo could represent an intrusive-related "Fort Knox"-type gold
system. The belt of BIF also extends for a further 8 km to the west-southwest
to the Lepindji prospect where gold has been found with BIFs as well as
diamonds in the nearby creeks. Mexivada is beginning a program of mapping and
sampling in this Bingoumi to Lepindji zone.

    SOUTH GOLD BELT - Bambonga-Bilala-FMI-Lesseseti-Madoka: Work continues on
the +22 km long South Gold Belt, where 12 lode gold prospect areas have been
located. This belt extends from the Vouka Diamond-Mayoko Gold terrane
intersection zone west-southwest to the dominantly granitic Louesse Horst,
which also is a diamond target terrane that contains the new Mousondji diamond
prospect. Aeromagnetic data flown by Fugro Airborne for the government of
Gabon show patterns suggestive that the Mayoko greenstone belt structure
continues both eastward and westward into Gabon, for a length of more than
100 km.
    A new, +2 by 1.5 km open pit gold target has been defined at the Fmi zone
through MMI soil sampling, which yielded a strong gold-bismuth anomaly area
which, again, could be indicative of an intrusive-related "Fort Knox"-type
gold system Mexivada presently is doing follow-up rock geochem sampling in
this Fmi target area. Mexivada also will extend the area of exploration to the
southwest in the Bambonga target area, where the Avoine Company found a 1 kg
gold nugget after World War II.

    MEXIVADA HIRES NEW DIAMOND SPECIALIST: Mexivada is pleased to report the
hiring of Mr. Siva Sankar, a geologist with significant diamond experience
with DeBeers and other companies in Africa and India. Mr. Sankar will be
Project Geologist in charge of Mexivada's diamond exploration programs in the
Congo, reporting to Dr. Noel Watha-Ndoudy, Mexivada's Project Manager.
    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 mineral exploration company focused on
identifying, acquiring, advancing, and joint venturing high-grade Gold-Silver,
Molybdenum, Diamond, and Rare Metal exploration projects in Mexico, Nevada,
and the ROC Republic of Congo. Managed by experienced and successful board
members and advisors, Mexivada is well financed with no debt. For further
information, including area maps, sections, and photos, please visit our web
site at or contact us by e-mail at



    Richard R. Redfern

    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 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.

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