Mirasol Agrees to Sell its Interest in the Joaquin Silver-Gold Project to Coeur d'Alene Mines

Mirasol Agrees to Sell its Interest in the Joaquin Silver-Gold Project  to 
Coeur d'Alene Mines 
VANCOUVER, Dec. 11, 2012 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, 
Frankfurt: M8R) Mirasol Resources Ltd. ("Mirasol") is pleased to announce it 
has reached an agreement to sell its 49% interest in the Joaquin Silver-Gold 
Project, Argentina, to Coeur d'Alene Mines Corporation ("Coeur") (NYSE:CDE; 
TSX:CDM), which has been operating on the Joaquin Project through an Argentine 
Under the terms of the agreement, Mirasol will receive a total consideration 
of US$60 million, which includes a payment of approximately US$30 million in 
cash and a quantity of Coeur common shares valued at approximately US$30 
million based on the ten trading day volume weighted average price prior to 
the date of Mirasol's acceptance of Coeur's offer, in return for Coeur 
acquiring Mirasol's subsidiary which holds the Joaquin property. 
Mirasol's president and CEO, Mary Little, said, "Mirasol is delivering on its 
strategy of building value through making new discoveries in the areas where 
we explore. In the case of Joaquin, our partner Coeur plans to carry forward 
while we continue to engage in discovery-oriented exploration programs in 
Latin America. The proceeds of the deal will help sustain these efforts for 
the next several years. We are pleased to formalize the Joaquin sale and are 
committed to providing our shareholders with the best opportunities for 
exploration success." 
The transaction has been approved by the Boards of Directors of Mirasol 
Resources Ltd. and Coeur d'Alene Mines Corporation but remains subject to 
customary closing conditions, including the receipt of regulatory approvals. 
The transaction does not require the approval of the shareholders of either 
Coeur or Mirasol. 
In November 2006, Mirasol and Coeur entered into an exploration and joint 
venture option agreement with respect to the Joaquin project. In 2010, Coeur 
vested at 51% interest and has since proceeded to advance the project towards 
feasibility stage. 
The Joaquin silver-gold deposit is a grass roots discovery initially 
identified by Mirasol through its proprietary exploration approach, upon which 
Coeur has defined a resource of Canadian National Instrument N.I. 43-101 
mineral estimate of 38.4 million ounces silver in the Measured and Indicated 
categories plus 31.3 million ounces silver in the Inferred category. In 
addition, Joaquin contains 39,600 gold ounces in Measured and Indicated 
resources and 19,400 gold ounces in Inferred (Table 1 and Technical Report of 
September 21, 2012 at www.sedar.com). The N.I. 43-101 resource estimate was 
prepared by independent consulting firm NCL Ingenieria y Construccion Ltda. of 
Santiago, Chile, using a $30 per silver ounce and $1,500 per gold ounce price, 
and a resource cut-off of 30 g/t (grams per tonne) for silver oxide material 
and a 34 g/t silver cut-off for silver sulphide material, within 
Whittle(®)-estimated surface pit mine parameters. 
Table 1. Mineral Resources for the Joaquin Project at September 2012 

                       Tonnes (000) Grade (g/tonne)    Contained Ounces
                                    Silver     Gold Silver (000)   Gold

Measured  Resources                                                    

Oxides                        1,400   90.5     0.11        4,200  4,900

Sulphides                       200  186.2     0.11        1,300    800

Total Measured                1,700  103.1     0.11        5,500  5,700

Indicated Resources                                                    

Oxides                        9,600   89.8     0.10       27,600 30,300

Sulphides                     1,000  162.7     0.11        5,400  3,700

Total Indicated              10,600   96.8     0.10       33,000 34,000

Measured and Indicated                                                 

Oxides                       11,000   89.9     0.10       31,800 35,200

Sulphides                     1,200  166.8     0.11        6,600  4,500

Total Measured and           12,200   97.6     0.10       38,400 39,600

Inferred Resources                                                     

Oxides                        6,000  100.1     0.06       19,300 11,900

Sulphides                     1,900  198.8     0.12       12,000  7,500

Total Inferred                7,900  123.7     0.08       31,300 19,400

  1. From September 21, 2012 Technical Report.
  2. Metal prices used were $30 per silver ounce and $1,500 per gold

  3. Oxide mineral resources estimated using a cut-off grade of 30 

     grams per tonne silver and sulphide mineral resources with a
     cut-off grade of 34 grams per tonne silver within Whittle

 (®)-estimated surface mine parameters.
  4. Mineral resources estimated by the consulting firm of NCL 
 Ingeniería y Construcción Ltda. in Santiago, Chile.
  5. Mineral resources that are not mineral reserves have not 
 demonstrated economic viability.
  6. Rounding may result in apparent differences between tons and 
 grades contained ounces. 
The estimate was prepared according to N.I. 43-101 standards and in accordance 
with CIM Standards on Mineral Resources and Reserves: Definitions and 
Guidelines (CIM 2005) by NCL, who was selected and contracted by Coeur, and 
who also performed the original NI 43-101 resource estimate (press release May 
9, 2011). 
About Mirasol Resources Ltd. 
Mirasol is focused on the discovery, exploration and acquisition of 
high-potential precious metals deposits in the Americas, utilizing leading 
edge technology for strategic advantage. Mirasol currently holds an active 
portfolio of exploration properties in Santa Cruz Province, in the Patagonian 
region of Argentina, identified through the Company's proprietary 
exploration targeting and technology. Mirasol's 100%-held Virginia high 
grade silver vein discovery has advanced through more than 23,400 metres of 
drilling. Mirasol holds 100% of the rights to the Rubi copper-gold porphyry 
target, strategically located in the El Salvador copper mining district, 
as well as a new portfolio of gold exploration targets in northern Chile. 
Mirasol operates through subsidiary companies in Argentina and Chile and is 
engaged in generative exploration in high-potential regions in the Americas. 
Quality Assurance/Quality Control:
Coeur d'Alene has been operating the Joaquin project and generated the 
drilling data used in this news release and reported it to Mirasol. Drill core 
samples were submitted to Alex Stewart (Assayers), Argentina S.A. and ALS 
Laboratories, both ISO 9000-2000 accredited laboratories located in Mendoza, 
Argentina. Gold and silver results were determined using standard fire assay 
techniques on a 30 gram sample with a gravimetric finish for gold and silver. 
Coeur's QAQC program includes the insertion of blanks, standards and 
duplicates into the sample stream for Joaquin drill holes. Mirasol has 
performed an independent analysis of the QAQC data generated by Coeur. Dr. 
Paul Lhotka has reviewed the Coeur resource in this news release, and is a 
qualified person as defined by National Instrument 43-101. 
Exploration at Mirasol's Projects is supervised by Stephen C. Nano, Vice 
President of Exploration; Timothy Heenan, Exploration Manager; and Dr. Paul 
Lhotka, Principal Geologist. All technical information for the Company's 
projects is obtained and reported under a formal quality assurance and quality 
control (QA/QC) program. Drill core, 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 standards. 
Assay results from diamond drill core or RC drill samples may be higher, lower 
or similar to results obtained from surface samples. 
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that 
term is defined in the policies of the TSX Venture Exchange) accepts 
responsibility for the adequacy or accuracy of this release. 
Mary L. Little President and CEO Tel:(604) 602-9989; Fax:(604) 609-9946  
Email:contact@mirasolresources.com Website:www.mirasolresources.com 
SOURCE: Mirasol Resources Ltd. 
To view this news release in HTML formatting, please use the following URL: 
CO: Mirasol Resources Ltd.
ST: British Columbia
-0- Dec/11/2012 13:30 GMT
Press spacebar to pause and continue. Press esc to stop.