Mexivada discovers new diamond field at Vouka, Republic of Congo

    TSX-V: MNV
    Frankfurt: M2Q

    VANCOUVER, Feb. 27 /CNW/ - Mexivada has discovered two new diamond
occurrences at Madoka and Mousondji on its exclusive Malambani Permis de
Recherches concession in the Republic of Congo ("ROC"), and has discovered a
new diamond field at "Vouka" in its Mbinda prospecting permit area. Mexivada
has applied for a new Permis De Recherches covering the Vouka area. The
Chinese firm "Congo Trading and Development" has surrounded Mexivada's
Malambani concession with prospecting permits for gold and diamonds, covering
the eastern extension of the auriferous Mayoko greenstone belt.
    Additionally, a "G-10" garnet, typically associated with diamondiferous
kimberlite pipes, was recently returned from Mexivada's stream sediment
sampling program at Bilala on Mexivada's Malambani concession, where the
Avoine Company mined a 22 millimetre gem diamond after World War II. Avoine
also recovered a 7.5 mm blue-yellow diamond at Malambani, in an area
suggestive that kimberlite may be present as dikes controlled locally by
ENE-trending fault zones.

    VOUKA DIAMOND FIELD: Mexivada has discovered diamonds, and the possible
kimberlite indicator minerals chromite and ilmenite, in a terrane in the
Mandoro River Basin not previously known to have been explored. Several
diamonds 1 to 3 millimetres in diameter, and of white to brownish colors, have
been found in two target areas to date. Diamonds, chromite, and ilmenite were
found in north-northwest trending fault-controlled stream drainages in the
western part of the target area, in a geologic setting thought to be similar
to that at Makongonio-Mbigou in Gabon, where kimberlites and diamonds to
60 carats in size have been found. Diamonds also have been found at two places
near a large, circular structural target in the central part of the Vouka
area. Mexivada recently started this exploration program and is continuing it
with one field crew based out of our Mayoko office. Mexivada feels that the
structural geology of the Vouka area is favorable for the discovery of a large
diameter diamondiferous kimberlite pipe.

    MADOKA DIAMOND DISCOVERY: Mexivada has discovered diamonds and the
possible kimberlite indicator minerals chromite and ilmenite at Madoka, just
southeast of Mexivada's Mayoko field office. The diamonds recovered to date
are shown on Mexivada's website, are 6 to 8 millimetres in diameter and of
colorless and greenish to yellow green in color, and two are of good gem
quality. Chromite and pinkish purple garnets, possible kimberlite indicator
minerals, were found together with the diamonds. The area is faulted, altered,
is cut by quartz veins, and gold was recovered in the pan concentrates.
Unusual metamorphosed "amphibolites" rocks were found on site (see photo on
website) that will be crushed and tested for kimberlite affinities. The
possible presence of metamorphosed kimberlite pipes and dikes is being
investigated by Mexivada. It is believed that this metamorphism took place at
approximately the same time as at the Witwatersrand, South Africa, at
2863- 2881 million years ago, which would make them the world's oldest known
kimberlites. Diamonds also have been found in the "Rand" metasediments, but
the original source kimberlites have not been found to date. Mexivada is
continuing diamond exploration with high priority at Madoka, given the large
size and good quality of the diamonds found to date.

    MOUSONDJI DIAMOND DISCOVERY: Two diamonds of approximately 0.5 gram in
weight each have been found in the Mousondji river drainage, in the
southwestern portion of the Malambani concession. This diamond occurrence, in
the western Louesse Horst geologic terrane, will be followed up as time
    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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