• Located in an emerging mineral district: 7 km west of Filo del Sol and 10 km west of Josemaria
• 2,690 line-km high resolution aeromagnetic survey completed

VANCOUVER, BC, November 4, 2021 — Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) is pleased to introduce the Company’s 100%-owned Sobek Cu project (“Sobek”) in Chile. Sobek was staked by Mirasol based on prospective local structural architecture with an important north-northeast trending mineralized structural corridor crosscut by north-northwest trending deep seated trans-cordilleran lineaments. The Sobek property land position was recently expanded following significant results reported by Filo Mining Corp. from its Filo del Sol project, which included a remarkable intercept of 858m at 1.80% CuEq (including 163m at 5.43% CuEq)[1]. Sobek is located 7 km to the west of the Filo del Sol project, a mid-Miocene epithermal - porphyry Au-Cu deposit.

Mirasol’s President, Tim Heenan, commented: “Sobek is located in a favourable and highly prospective metallogenic district. The importance of our Sobek project is highlighted by the recent significant discoveries at the neighboring Filo del Sol project. Mirasol has recently completed a helicopter supported aeromagnetic survey to assist in our evaluation of the project and to focus our field work on key prospective areas. Ground exploration at Sobek will commence following the analysis of this data.”

A new mineralized district is developing in the Sobek area with multiple deposits located in close proximity, including the Josemaria and Los Helados porphyry Cu-Au deposits located 10 km east-northeast and 20 km north of Sobek, respectively. Mirasol now controls 8,571 ha of exploration claims in this district in three blocks that are all on the Chilean side of the border with Argentina.

Figure 1: Sobek project location

Sobek is situated within the tectonic flat-slab segment of the Mio-Pliocene volcanogenic belt which is known as one of the world’s most endowed regions for giant magmatic-hydrothermal ore deposits. This belt hosts many large Cu deposits, including Rio Blanco, El Teniente and Pelambres-Pachon, as well as significant epithermal Au-Ag deposits, including Pascua-Lama, Veladero and El Indio. The Sobek property covers Lower Miocene intrusives and volcanics in the South and Central blocks and a Permo-Triassic intrusive sequence in the North Block. Repeated magmatism in the region from the Permian through the Eocene to Lower and mid-Miocene has led to the formation and preservation of several giant porphyry Cu-Au deposits.

Figure 2: Sobek regional setting

Mirasol has recently completed a high resolution 2,690 line-km helicopter supported aeromagnetic (“MAG”) survey contracted to High-Sense Geophysics Limited in Chile. The survey covered the entire property and was designed to refine the geological and structural interpretation at Sobek. Magnetic surveys can identify features commonly associated with large mineralized systems such as porphyry Cu-Au and high sulfidation epithermal Au-Ag deposits.

Following processing and interpretation of the MAG data, Mirasol will commence a ground exploration program at Sobek during the current exploration season. This program will further assess the potential for porphyry Cu-Au and epithermal Au-Ag mineralization with geochemical sampling, detailed geological mapping and potentially additional ground geophysical surveys over the priority prospects.

Sobek is a priority exploration project in Mirasol’s outstanding project portfolio, which includes Gorbea (partnered with Newcrest), Coronación (partnered with First Quantum), Virginia (partnered with Silver Sands) and the 100% controlled high-priority Altazor project, all of which are expected to be drilled this field season.

 

About Mirasol Resources Ltd

Mirasol is a well-funded exploration company focused in Chile and Argentina. Mirasol has seven partner-funded projects, with Newcrest Mining Ltd (Chile), First Quantum Minerals (Chile), Mine Discovery Fund (Chile), Mineria Activa (Chile), Silver Sands Resources (Argentina), Patagonia Gold (Argentina) and Golden Arrow (Argentina). Mirasol is currently self-funding exploration at two projects, Inca Gold (Chile) and Sacha Marcelina (Argentina).

 

For further information, contact:

Tim Heenan, President

or

Jonathan Rosset, VP Corporate Development

Tel: +1 (604) 602-9989

Email: contact@mirasolresources.com

Website: www.mirasolresources.com

 

Qualified Person Statement: Mirasol’s disclosure of technical and scientific information in this press release has been reviewed and approved by Tim Heenan (MAIG), the interim President for the Company, who serves as a Qualified Person under the definition of National Instrument 43-101.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.