Marifil Mines Ltd (MFM)

[RobertJames]

Marifil Mines Ltd. Announces Non-Brokered Private Placement



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 11, 2013) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

MARIFIL MINES LTD. (TSX VENTURE:MFM) (the "Company") is pleased to announce a non-brokered private placement of up to 20,000,000 units at $0.05 per unit for gross proceeds of up to $1,000,000 (the "Offering"). Each unit will consist of one common share and one full purchase warrant (a "Unit"). Each whole warrant will entitle the holder thereof to acquire one common share of the Company at a price of $0.10 for 60 months from closing of the Offering. If, commencing on that date that is four months after the closing of the Offering, the closing price of the common shares of the Company on the TSX Venture Exchange is higher than $0.20 for 20 consecutive trading days then on the date that is the 20th consecutive trading day (the "Acceleration Trigger Date") the expiry date of the warrants will be accelerated to the date that is 20 business days after the Acceleration Trigger Date. Closing of the Offering is anticipated to be on or about February 25th, 2013.

Insiders, management and other existing shareholders identified by the Company will subscribe for up to $200,000 (up to 4,000,000 Units) of the Offering on the same terms and conditions.

Sprott Private Wealth LP and affiliates will act as finders in the Offering. A finders fee equal to 7.5% payable in cash or Units will be payable on a portion of the Offering. Brokers warrants equal to 7.5% of the Offering will be payable to certain finders, brokers warrants issued will be exercisable for a period of two years at $0.05 per share, subject to early acceleration on the same basis as the Unit warrants.

All securities issued pursuant to this non-brokered private placement will be subject to a four month hold period from the date of issuance.

Proceeds from the placement will be used for exploration and development activities on the Company's properties and for general working capital. The non-brokered private placement is subject to the approval of the TSX Venture Exchange