The San Roque project in Argentina comprises 11 claims totaling 70,046 hectares. Marifil has the right to purchase a 100% interest in three key claims for $400,000. Drilling has revealed significant disseminated and stockwork lead, zinc, gold, silver, and indium mineralization over an area of at least 3 by 4 kilometers within a collapsed caldera. The project has excellent infrastructure including access by road and rail, water, labor, and proximity to a major seaport. Under a joint venture agreement, NovaGold can earn up to a 70% interest in the project by committing $9 million over five years to exploration programs.

1. TSXV: MFM
San Roque Project
Joint Venture with NovaGold Resources Inc.
October 2011
The San Roque project comprises eleven claims totalling 70,046 hectares. Three of the claims are owned by MIM
Exploraciones SA ("MIM"). Marifil has the right to purchase a 100% interest in these claims for $400,000. The San
Roque property contains a large sulphide system defined by an induced polarization ("IP") survey and widespread
drilling over an area measuring at least 3 kilometres by 4 kilometres. This area is the site of a coincident lead-zinc-gold-
silver anomaly in soils and the IP geophysical anomaly. Marifil believes this mineralization lies within a collapsed
caldera or diatreme structure. Widespread mineralization occurs throughout the volcanic rock types present within the
postulated caldera/diatreme and mineralization also extends into the underlying basement schists.
The infrastructure is especially favourable at San Roque. The climate is mild and work can be carried out year round;
the terrain is relatively flat, with elevations generally only 200 to 300 m above sea level, and abundant water is near-
by. The property is located in a region with a large, skilled workforce and is accessible by a paved highway. A railroad
crosses the south boundary of the claims, cheap hydroelectric power is available, and a deep water ocean port lies just
65 kilometres to the east.
Drilling by Marifil reveals significant disseminated and stockwork galena and sphalerite (ores of lead and zinc) miner-
alization containing gold, silver, and indium. Marifil believes mineralization at San Roque is analogous to the giant
Penasquito deposit in Mexico, now being mined by Goldcorp, and the Camino Rojo and San Augustin deposits, also
in Mexico. The Montana Tunnels deposit in western Montana is also a similar geologic model.
JOINT VENTURE AGREEMENT
Under the terms of the Option Agreement ("Agreement") announced on June 23, 2010, NovaGold has an option to
acquire a 49% interest by spending $3,000,000 during the first two years of the Agreement (including making the
$400,000 payment to MIM) and paying Marifil $100,000 per year. After earning its 49% interest, NovaGold can earn an
additional 2% interest by committing to a Phase 2 program. During the Phase 2 program NovaGold shall spend an
additional $6,000,000 over the next three years and pay Marifil $100,000 per year to earn an additional 19% interest,
bringing its total interest to 70%. All further expenditures shall be shared 70% NovaGold and 30% Marifil.
Below: Lead-zinc veins cutting brecciated volcanics
Right: Drill core showing the border of the vein with con-
centric bands of sphalerite.

2. SAN ROQUE DRILL SECTIONS
Quick Facts
Polymetallic sulfide system San Roque
San Antonio
Indium enriched with gold Port
and silver
All 73 holes carry values Las Grutas City of
Viedma
Previous focus on narrow
zones Gulf of
7 - 8 km2 anomaly San Matías
jurassic acidic volcanics
caldera setting
tic
Devonian schist basement Puerto Madryn l an n
mineralized At cea
O
Rio Negro province,
Argentina
70 km2 property
excellent infrastructure: rail,
highway, water and labor
major seaport nearby
Contact Info
Hugh Oswald, IR John Hite, President
T: 604.684.4743 ext. 243 T: 702.562.4880
E: hugh@ascentacapital.com E: pgefinder@earthlink.net
www.marifilmines.com
Monomictic breccia (VRH) with quartz matrix