Mexivada Discovers Two Large Diamonds at Malambani, Republic of Congo

    TSX-V: MNV
    Frankfurt: M2Q

    VANCOUVER, Jan. 17 /CNW/ - Mexivada Mining Corp. is pleased to report the
discovery of two large diamonds and probable kimberlite indicator minerals
from a previously unexplored location on its 100% controlled Malambani Permis
de Recherche concession, located near Mayoko, Republic of Congo.
    According to government records, mining of alluvial gold (+33,000 ounces)
by the Avoine Company at Mayoko after World War II included their mining of a
22 millimetre, sharp-faced white gem octahedral diamond thought to weigh
approximately 75 carats and a 7 millimetre blue-yellow colored diamond, during
the gold dredging operations. They never found the source of these diamonds.
    Mexivada has been conducting systematic reconnaissance exploration
mapping and sampling for gold and diamonds along the 8 by +23 kilometre long
Mayoko Greenstone Belt at Malambani from its Mayoko field office. Heavy
mineral pan-concentrate sampling in alluvium this past week led to the
discovery of two diamonds in two pits (PDM17 and PDM19), located 100 metres
apart from each other in a new area near Mayoko, within the boundaries of
Mexivada's Malambani concession.
    The first diamond is a white, modified octahedron 7.5 millimetres in
diameter, and the second stone recovered was a shiny 6 millimetre
greenish-white colored dodecahedral diamond. The stones weigh approximately
0.1 gram each. The diamond indicator mineral chromite, as well as purplish
pink garnets (possibly pyropes), were also found at these two sampling sites
in the pan concentrates. Mexivada has applied for the necessary permits to
send these minerals to the Gemological Institute of America ("GIA") laboratory
in Carlsbad, California for examination, study, and verification by diamond
expert John Koivula. Mexivada will continue its sampling-mapping program at
Mayoko, in search of kimberlitic pipes that could host the diamonds and
indicator mineral(s). Photographs of these recovered minerals will be posted
to the Mexivada website.
    Although the Malambani property has had historic alluvial gold and
diamond mining operations on it, the property is without a known body of
primary kimberlitic or lamproitic diamond ore and Mexivada's activities to
date have been exploratory in nature. Readers are cautioned that until a
primary diamondiferous source body has been found and an adequate number of
holes have been drilled and NI 43-101 compliant diamond testing analyses have
been obtained, reviewed, and properly interpreted by qualified personnel, any
conclusions as to the nature and extent of mineralization at Malambani must be
considered speculative in nature.
    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 Republic of Congo ("ROC"). Managed by experienced and successful board
members and advisors, Mexivada is well financed with no debt. For further
information, including area maps 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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