Mr. Troy Shultz reports

MIRASOL RESOURCES CLOSES PRIVATE PLACEMENT

Mirasol Resources Ltd. has closed its previously announced non-brokered private placement. The company issued 5,909,600 units at a price of $1.25 per unit for aggregate gross proceeds of $7,387,000. Each unit comprises one common share and one-half non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of $1.70 for a period of 12 months from closing of the offering.

Proceeds of the offering will be used to advance exploration, including drilling, at the company's flagship assets in Chile and Argentina, and for general corporate purposes.

The securities issued under the offering are subject to a four-month hold period. Finders' fees were paid on a portion of the offering.

John Tognetti, a director of the company, was issued 800,000 shares under the offering. Accordingly, Mr. Tognetti's subscription constituted a related party transaction within the meaning of Multilateral Instrument 61-101 -- Protection of Minority Shareholders in Special Transactions. The issuance of the shares to the related party was exempt from the formal valuation requirement of MI 61-101 under the exemption in Section 5.5(b) of MI 61-101, as the company's shares are not listed on a specified market, and from the minority shareholder approval requirements of MI 61-101 under the exemption in Section 5.7(a) of MI 61-101, as the fair market value of the consideration for the securities issued to the related party did not exceed 25 per cent of the company's market capitalization.

About Mirasol Resources Ltd.

Mirasol is a well-financed exploration company with 18 years of operating, permitting and community relations experience in the mineral-rich regions of Chile and Argentina. Mirasol controls 100 per cent of the high-grade Virginia silver deposit in Argentina, and is currently self-financing exploration at two flagship projects, Sobek and Inca, both located in Chile. Mirasol also continues to advance a strong pipeline of highly prospective, early-stage/mid-stage projects.

We seek Safe Harbor.