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Mirasol Resources Receives Funds from Exercise of Warrants

VANCOUVER, BC May 23, 2006 — Mirasol Resources Ltd. (TSX-V: MRZ) is pleased to announce that it has received total proceeds of $2,888,875 from the exercise of 5,252,500 warrants. Including funds received in the recent private placement of $2.5 million announced April 24, 2006, the Company now has $5.5 million available to fund it exploration activities. Mirasol Resources Ltd. is actively expanding its generative exploration program to other highly prospective areas within Latin America.

Mirasol Resources Ltd. is an exploration and development company focused on discovery and acquisition of new, high-potential precious metals deposits in the Americas. The Company was formed to capitalize on more than 40 years of cumulative experience by Mirasol’s exploration team in Latin America, and utilizes state-of-the art remote sensing technology and targeting expertise. Mirasol Argentina presently holds 100% of the rights of six exploration projects, totaling more than 100,000 hectares in Santa Cruz Province, in the Patagonia region of southern Argentina, as well as several additional early stage precious metals properties in Argentina.

For further information, contact:

Mary L. Little, President & CEO
Tel: (604) 602-9989: Fax: (604) 688-8852
Email: contact@mirasolresources.com
Website: www.mirasolresources.com

Investor Relations:
Bruce Korhonen, Ascenta Capital Partners Inc.
Tel: 604.684.4743 ext. 230
Toll free: 1.866.684.4743 ext. 230
Email: bruce@ascentacapital.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release

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