Marifil Sells Lithium Properties for $5 Million Company Retains a 3% Net Smelter Royalty

SPOKANE, WASHINGTON -- (Marketwire) -- 08/12/10 -- MARIFIL MINES LTD. (TSX VENTURE: MFM) ('Marifil' or 'the Company') announces that it has signed an agreement with Renholn International, a private company ('Renholn'), whereby Renholn has the right to purchase all of the Company's lithium claims in Salta and Catamarca Provinces, Argentina.

Under the terms of the agreement Renholn agrees to pay Marifil $500,000 in cash at a rate of $125,000 on signing the agreement and $125,000 per year for three years. Renholn further agrees to carry out the $2,250,000 minimum exploration programs recommended in the Company's NI 43-101 reports for these properties at the rate of $500,000 in Year 1; $750,000 in Year 2; and $1,000,000 in Year 3. Marifil shall retain a 3% Net Smelter Royalty.

Renholn shall have three years to obtain a listing on the London AIM market for itself or some other Company ('NEWCO-AIM') that will hold the lithium properties. At the date of the AIM listing, Renholn, or NEWCO-AIM, shall issue $4,500,000 worth of shares in NEWCO-AIM to Marifil at the same price as the initial offering price for such shares.

The lithium properties comprise two claims in Salta Province totalling 19,600 hectares and seven claims in Catamarca Province totalling 19,185.4 hectares.

Mr. John Hite, President of Marifil states, 'This is an important milestone for the Company. This deal brings short term value to us in terms of cash for use to carry out other programs, intermediate value in terms of a work program and shares in NEWCO-AIM, and long term value from the 3% Net Smelter Royalty. Renholn is led by a successful mining executive and we are confident that Renholn will make this new company a great success.'

The Company will be paying a finder's fee to a third party.

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.

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Marifil Mines Ltd. 'Marifil', has taken all reasonable care in producing and publishing information contained in this news release, and will endeavor to do so on a periodic basis. Material in this news release may still contain technical or other inaccuracies, omissions, or typographical errors, for which Marifil assumes no responsibility. Marifil does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this site. Under no circumstances, including, but not limited to, negligence, shall Marifil be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer of other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material from this news release. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this site, except for personal use unless you have obtained our express written permission.

Forward-Looking Statements

This news release may contain forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (Http://www.sedar.com) or at Marifil's Website (Http://www.marifilmines.com).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts:

Marifil Mines Ltd.

John Hite

President

(208) 443-3198
www.marifilmines.com


Ascenta Capital Partners

Hugh Oswald

Investor Relations

(604) 684-4743 ext. 243
hugh@ascentacapital.com