Mr. Tim Heenan reports

MIRASOL RESOURCES CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Mirasol Resources Ltd. has closed the first tranche of its previously announced non-brokered private placement. The company issued 3,887,552 units at a price of 60 cents per unit for aggregate gross proceeds of $2,332,531.20. Each unit is composed of one common share and one-half of one non-transferable common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of 80 cents 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.

Three directors and one senior officer of the company participated in the financing and were issued an aggregate of 1,076,000 units under the offering. Accordingly, these subscriptions each constituted a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Shareholders in Special Transactions). The issuance of the units to the related parties was exempt from the valuation requirement of MI 61-101 under the exemption in Section 5.5(b) of MI 61-101 in that 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 in that the fair market value of the consideration for the securities issued to the related parties did not exceed 25 per cent of the company market capitalization.

About Mirasol Resources Ltd.

Mirasol is a well-financed exploration company with 20 years of operating, permitting and community relations experience in the mineral-rich regions of Chile and Argentina. Mirasol is currently self-financing exploration at the flagship Sobek copper-gold project located in the Vicuna copper-gold-silver district of northeastern Chile and controls 100 per cent of the high-grade Virginia silver deposit in the province of Santa Cruz, Argentina. Mirasol also continues to advance a strong pipeline of highly prospective early- and mid-stage projects.

We seek Safe Harbor.