Mirasol Completes Espejo Project Geophysical Program and Confirms Drill Targets

    VANCOUVER, June 16 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ; Frankfurt:
M8R) is pleased to announce that it has enhanced its 100% owned Espejo project
and defined multiple drill targets adjacent to the Pan American Silver Corp.'s
Manantial Espejo silver-gold mine, presently under development in Santa Cruz
Province, southern Argentina. Mirasol's Espejo property is located on the
projected trend which hosts Coeur's bonanza-grade Martha silver mine and the
Pan American project, containing a combined estimated 70 million ounces of
silver in resources and past production.
    The Espejo project's targets are epithermal silver-gold vein
mineralization under shallow cover, just seven kilometers along strike from
the Manantial Espejo mine project (50 million ounces of silver and 0.66
million ounces of gold in reserves and resources)(*). According to company
sources, Manantial Espejo planned development will include both surface and
underground operations and is expected to commence production in the second
half of 2008.
    Mirasol's in-house geophysical and geological teams recently completed an
extensive program of high resolution ground magnetics, gradient array
IP/resistivity geophysics, and geological mapping over a prospective section
of the Espejo claims where Jurassic volcanic host rocks appear in small
windows through gravel cover. (See news release dated January 16, 2007)
    Detailed interpretation of the resultant magnetic images has allowed
Mirasol's geologists to confirm that key vein-controlling structures from the
mine corridor continue into the gravel covered target area of the Espejo
claims. Integrated interpretation of the geophysical and geological data
highlighted nine high priority drill targets in promising structural settings,
with IP/Resistivity signatures that may indicate covered epithermal vein
and/or sulphide mineralization. These targets can be cost effectively tested
with fences of shallow reverse circulation drill holes.
    The Espejo project is strategically located adjacent to the Manantial
Espejo mine development and within 35 kilometres of the recently commissioned
mill at Coeur's Martha silver mine. The Espejo project encompasses 154 square
kilometres of claims and has excellent logistics, located adjacent to a
provincial road that links regional population centres.
    (*) Manantial Espejo's contained silver and gold reserves and resources
    as stated in Pan American Silver Corp. Statement of Mineral Reserves and
    Resources dated December 31, 2007.

    About Mirasol Resources Ltd.:
    Mirasol Resources Ltd. is an exploration company focused on the discovery
and acquisition of high-potential, precious metals deposits in the Americas,
utilizing leading edge technology for strategic advantage. Mirasol currently
holds 100% of the rights of eight active exploration projects and ten
early-stage prospects in Santa Cruz Province identified through the Company's
proprietary exploration. The Company has joint ventured several of its
Patagonian projects with strong, well-funded partners Coeur (TSX: CDM; NYSE:  
CDE) and the Hochschild Group (LN: HOC). The company operates subsidiary
companies in Argentina and Chile and is engaged in generative exploration in
high-potential regions elsewhere in the Americas.
    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.

    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

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

    %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:

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