Marifil Acquiring High Grade Potash Deposit Five Drill Holes Contain 42% to 45% KCl

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/23/12 -- MARIFIL MINES LTD. (TSX VENTURE: MFM) ('Marifil' or 'the Company') announces that it has signed a Letter of Intent ('LOI') to acquire the Filo Morado potash property in Neuquen Province, Argentina.

Filo Morado (now re-named K-5 by Marifil) comprises 14 claims totalling 30,100 hectares. Marifil has been granted a 60 day period to carry out due diligence; a title report is in progress. The terms of the LOI call for a $25,000 payment on signing (which has been paid); a $125,000 payment at the end of the due diligence period; a $150,000 payment in six months; $175,000 in 24 months; $200,000 in 30 months; and $2,400,000 in 48 months. The owner retains a 2% Net Smelter Royalty but Marifil has the right to purchase 1.5% for $1,500,000.

The K-5 claims are bordered on the east by Vale's claims which host the +2 billion tonne Potasio Rio Colorado potash deposit and bordered on the north by claims owned by K+S Group (a giant German fertilizer corporation) and which host the large El Porton potash deposit. The K-5 prospect is possibly an extension of the El Porton deposit.

Marifil geologists have identified significant sylvite (KCl) intervals in drill logs from 27 holes drilled for oil. Eight additional drill logs are still being analyzed. Potash mineralization has been identified in up to 7 separate horizons. Most of these horizons range in depth from about 1000 to 1100 meters but significant potash has been identified as deep as 1500 meters.

Table 1 below summarizes some of the more significant intervals:

                     Thickness
Drill Hole             (meters)   Grade (%KCl)

FM a17                     2.5            45%
 and                       4.0            27%

FM 23                      4.0            45%

FM 27                      3.5            42%
 and                       2.5            43%
 and                       4.4            29%

FM 29                      3.5            45%

RuC x-1                    5.2            40%

All of the holes analyzed to date are shown in Table 2 and at the end of this report.

The potash horizons occur in a large north-striking anticlinal or monoclinal fold. Mineralization occurs over a width of 5 kilometers and a strike length of about 20 kilometers.

Mr. John Hite reports, 'This acquisition may be a real game changer for Marifil and is one we worked for nearly one year to acquire. We have identified multiple high grade sylvite (KCl) horizons with mineable thicknesses over an area of 80 to 100 square kilometers. These horizons should be extremely amenable to solution mining. By adding the K-5 we have become the second largest potash claim owner in the Neuquen Basin.'

'Marifil is actively seeking a partner to develop our K-2, K-3, and K-4 properties. K-5 is a stellar addition to this portfolio.'

TABLE 2

--------------------------------------------------------------------------
                        SILVITE HORIZON H1              SILVITE HORIZON H2
                             thick-                          thick-
WELL ID        top    Base    ness  % K Cl     top    Base    ness  % K Cl
--------------------------------------------------------------------------
FM X-1      1215.7  1217.5     1.8      21    1214  1215.3     1.3      23
FM X-3      1214.2    1216     1.8      18    1212  1213.6     1.6      22
FM X-4        1196    1197       1      14    1192  1193.5     1.5      26
FM X-5      1385.3  1386.8     1.5      25    1384    1385       1      24
FM 12       1528.7  1531.5     2.8      22  1524.2  1528.4     4.2      33
FM a-17     1160.8  1163.3     2.5      45  1158.4  1159.8     1.4      12
FM 19       1078.2    1080     1.8      21  1075.6  1078.2     2.6      19
FM 21       1083.8  1085.8       2      23  1080.5  1082.7     2.2      24
FM 23       1015.8  1019.8       4      45  1005.8  1008.3     2.5      17
FM a-26     1222.3  1223.8     1.5      26  1220.2    1222     1.8      25
FM 27       1021.3  1024.9     3.5      42  1017.8  1020.3     2.5      43
FM 29       1518.2  1521.7     3.5      45  1511.8  1513.8       2      37
FM 30       1534.8    1538     3.2      36  1515.2  1520.2       5      29
FM 31       1403.2  1406.5     3.3      37  1400.3    1402     1.7      13
FM 34       1391.5  1393.2     1.7      20  1388.7  1390.7       2      33
FM 35         1477  1478.2     1-1      22  1474.5  1476.6     2.1      33
FM 36       1376.5  1379.2     2.3      21  1370.4    1372     1.6      40
FM 36       1425.5  1427.2     1.7      22  1423.5  1424.8     1.3      20
FM 37       1058.2  1059.5     1.3      40    1055  1056.8     1.8      40
FM 38       1121.5    1123     1.5      25  1105.2  1107.4     2.2      22
RuC x-1     2437.5    2439     1.5      26  2436.2  2436.8     0.6      32
RuC x-2     2385.5  2388.3     2.8      27  2374.2  2376.3     2.1      29
FDT X-2      713.4     715     1.6      22   707.5   709.7     2.2      21
LBl X-1     1380.5  1382.4     1.9      17  1374.5  1379.5       5      19
--------------------------------------------------------------------------

                        SILVITE HORIZON H3              SILVITE HORIZON H4
                             thick-                          thick-
WELL ID        top    base    ness  % K Cl     top    base    ness  % K Cl
--------------------------------------------------------------------------
FM X-1        1212  1213.6     1.6      22    1196    1200       4      19
FM X-3      1208.6    1210     1.4      14    1204  1205.3     1.3       8
FM X-4      1189.5    1191     1.5      25  1178.8  1180.6     1.8      15
FM X-5      1377.3  1370.3       2      17
FM 12       1517.3  1522.8     5.5      25    1507    1510       3      44
FM a-17       1104    1108       4      27  1101.1  1102.3     1.2      17
FM 19       1068.5  1070.5       2      14  1054.2  1055.8     1.6      11
FM 21
FM 23          996   997.8     1.8       7
FM a-26     1207.8  1209.8       2      29
FM 27       1006.2  1010.6     4.4      29
FM 29       1509.8    1511     1.2      20  1501.5    1504     2.5      29
FM 30
FM 31       1398.8  1402.5     3.7      14
FM 34       1369.2  1371.5     2.3      45    1367  1368.7     1.7      38
FM 35
FM 36       1360.8  1362.8       2      21
FM 36         1422    1423       1      30
FM 37
FM 38       1096.4  1098.2     1.8      30  1090.7  1092.3     1.6      17
RuC x-1       2430  2435.2     5.2      40    2426  2429.3     3.3       7
RuC x-2       2372  2373.6     1.6      27    2353    2354       1      19
FDT X-2      704.8   706.2     1.4      24
LBl X-1     1367.8    1370     2.2      26

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.

WE SEEK SAFE HARBOR.

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Contacts:

Marifil Mines Ltd.

John Hite

President

(702) 562-4880
www.marifilmines.com


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Hugh Oswald

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