VANCOUVER, BC, May 22, 2007 — Mirasol Resources Ltd. (TSXV: MRZ; Frankfurt: WKN: AOF4Z5; M8R) announces that it has closed the non-brokered private placement announced April 13, 2007. The 2,000,000 unit offering was fully subscribed for gross proceeds of $2.0 million. Each unit consists of one common share and one share purchase warrant exercisable at a price of $1.50 per share for a period of two years from closing, subject to an exercise acceleration provision.

No broker or finders fees were paid and all securities are subject to a four-month hold period. The proceeds will be used to fund Mirasol’s exploration programs in Argentina and Chile, for corporate purposes, and for general working capital.

Mirasol Resources Ltd. is an exploration and development company with a proven track record to successful discovery, and is focused on the discovery and acquisition of new, high-potential precious metals deposits in the Americas. Mirasol’s subsidiaries currently hold 100% of the rights to nine exploration projects, totaling more than 180,000 hectares in Santa Cruz Province in the Patagonia region of southern Argentina. Four of the Company’s projects are under joint venture. The company operates two subsidiary companies in Argentina and is engaged in generative exploration in high-potential regions elsewhere in the Americas. For further information, visit the Company’s website: www.mirasolresources.com.

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

Bruce Korhonen, Investor Relations
Ascenta Capital Partners, Inc.
Tel: (644) 684-4743 ext 230; or 1 (866) 604-4743
Email: bruce@ascentacapital.com

Quality Assurance/Quality Control: Exploration at Mirasol’s Projects is supervised by Mirasol’s Exploration Manager, Timothy Heenan, and Vice President Exploration, Stephen Nano, both qualified persons under NI 43-101. All technical information for the Company’s projects is obtained and reported under a formal quality assurance and quality control (QA/QC) program.

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