Yamana Gold terminates the Gorbea Joint Venture
Monday, Apr 16, 2018
Mirasol Resources Ltd. announces that it has been advised by Yamana Gold of its decision to terminate the Gorbea Joint Venture  in Chile.

On March 25, 2015, Yamana, Mirasol and their respective Chilean subsidiaries, entered into a Letter Agreement (the "JV Agreement"), whereby Yamana had the right to acquire up to a 75% interest in nine exploration stage high-sulfidation epithermal ("HSE") gold projects in the Mio-Pliocene age mineral belt of northern Chile, which are collectively referred to as the Gorbea Joint Venture.

During the three years of the Gorbea JV, Yamana focused its drilling activity exclusively on the Atlas and Titan projects.  At Atlas, Yamana has identified a significant body of HSE gold mineralization positioned approximately 265 m below drill collar which has returned the best drill intercept of 114 m grading 1.07 g/t Au, including 36 m grading 2.49 g/t Au.  During the 2017-2018 exploration season, Yamana initiated reconnaissance level surface exploration at the Ventura, Orion and Siro projects.  Since inception of the JV Agreement, Yamana has incurred exploration expenditures in-excess of US$ 8,000,000 on the properties which includes 11,640 m of drilling; Yamana has made US$580,000 in option payments to Mirasol.

Stephen Nano, CEO of Mirasol, stated that "we have appreciated working with the Yamana's exploration team over the past three years and value the significant investment made on the Gorbea projects. Mirasol will shortly receive this season's drill and surface assays from Yamana and following analysis will report on these results and our future plans for the Gorbea Projects."

Mirasol is operating four other large-scale JVs on Mirasol projects with its JV partners in Chile and Argentina, which are budgeted to deliver CA$ 7.5 million in JV partner exploration expenditures this fiscal year.  At the Altazor and Zeus projects in Chile, Mirasol and JV partner Newcrest Mining are exploring for multi-million ounce HSE Au projects in the prospective Mio-Pliocene mineral belt.  In Santa Cruz province of Argentina, Mirasol will be drilling at the Claudia and Curva projects targeting high grade low sulfidation epithermal Au + Ag mineralization with JV partner OceanaGold.

For more information, please visit: http://mirasolresources.com/

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