VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 11, 2012) - Mexivada Mining Corp. (TSX VENTURE:MNV)(OTCBB:MXVDF)(FRANKFURT:M2Q) is pleased to announce the signing of an option to purchase up to a 60% interest in the Roger gold property, Hislop Township, in the Matheson gold camp, Ontario, Canada, from Romios Gold Resources Inc., under an agreement dated January 9, 2012. This agreement options Mexivada another strategic gold property, in the heart of Canada's premier gold mining camp, just south of Brigus Gold's Black Fox - 147 - Contact - Gibson gold mining property.

The Roger property is located 400 metres southwest and 750 metres south of Brigus' 147 and Gibson gold zones, respectively. Brigus announced a drill-indicated gold resource for the 147 Zone in a press release dated December 15, 2011. The past-producing Ross Mine (P. Sheridan, +1,000,000 ounces of gold) is located 2.8 km southeast of the Roger property. The Roger property shows pyritic gold mineralization at the surface, and outcrop samples assayed to in excess of 0.5 gram per tonne ("g/t") gold. The Roger property also has northerly trending faults that could be similar to those on the adjoining Brigus property that host the 147 and Contact Zones.

Chevron Minerals conducted initial exploration drilling of at least 12 holes in the late 1980s on the Roger property. Chevron discovered zones that assayed up to 12.2 g/t gold over 0.7 m in hole 88-202, at a depth of 137 m. Up to 6 different gold zones may have been found on the property by Chevron. These zones are along the NW-SE structural trend of the "V2 Zone" found on the adjoining Stroud Resources property to the southeast of Roger. Chevron's drilling was too wide spaced to define mineral resources on the property.

Mexivada feels that the Roger property offers excellent potential for the discovery of new gold zones. The property's strategic location near producing gold mines in a burgeoning gold camp is a great plus for this property. Mexivada will begin data analysis and modeling work immediately, and would hope to begin drilling work on the Roger property this spring or summer, using its flow through funds.

Mexivada ("Optionee") can earn a 50% interest in the mining rights to the Roger property, subject to approval by the TSX Venture Exchange ("Regulatory Approval"), by compensating Romios Gold ("Optionor") in structured payments of:

1. the payment of the sum of $25,000 to Optionor upon signing of this Agreement (paid) and the issuance of common Shares of the Optionee having a value of $25,000, within five (5) business days after receipt of Regulatory Approval of the terms of this Agreement (the "Approval Date");

1. the payment of the sum of $50,000 within one (1) year and five (5) business days from the Approval Date and the issuance of Shares having a Share Value of $50,000, concurrently;

1. the payment of $75,000 within two (2) years and five (5) business days from the Approval Date, and the issuance of Shares having a Share Value of $75,000, concurrently; and

1. the payment of $125,000 within sixty (60) following the second anniversary of the Approval Date, and the issuance of Shares having a Share Value of $125,000, concurrently.

Mexivada also has work commitments under the option to earn 50% of the mining rights as follows:

1. expending a total of $100,000 on or before the first anniversary of the Approval Date, and;

1. expending a total of $1,000,000 including the amount referred to above, on or before the second anniversary of the Approval Date.

Mexivada shall have the further right, upon formation of a Joint Venture with Romios Gold, to acquire its pro rata proportion of the surface rights to the Claim (the "Surface Rights Option"), in proportion to its interest in the Joint Venture, for the payment of $200,000 to the Optionor (the "Surface Rights Consideration"). Upon payment of the Surface Rights Consideration, the Optionor shall contribute the remaining interest in the surface rights of the Claim to the Joint Venture for no further consideration. If the Optionee does not pay the Surface Rights Consideration, the Joint Venture shall be obligated to pay a rental fee to the Optionor for use of the surface rights at the rate of $10,000 per year and the Optionor shall retain the surface rights to the Claim.

If the First Option to acquire a 50% interest in the mining rights is exercised, Romios Gold granted to the Optionee the irrevocable option (the "Second Option") to acquire a further 10% interest in the Mining Rights. Within thirty (30) days of the exercise of the First Option, the Optionee shall notify the Optionor in writing of its intention to exercise the Second Option. If the Optionee elects to exercise the Second Option, it shall expend a further $1,000,000 for a total of $2,000,000 on or before the third anniversary of the Approval Date, failing which the Optionee shall have earned only a 50% interest in the Mining Rights and a joint venture shall be formed. Upon the expenditure of an aggregate of $2,000,000 within the time provided herein, the Second Option shall be deemed to have been exercised, the Optionee shall have earned an undivided 60% interest in the Mining Rights and the Optionor and the Optionee shall thereafter enter into a joint venture agreement as provided for in the agreement.

When Mexivada has earned either a 50% interest or a 60% interest in the Roger gold property, the parties will enter into a Joint Venture Agreement for the further exploration of the property. The JV Agreement would provide for pro rata dilution for non-participation in programs. If either Party is reduced below a 10% interest, such interest shall be converted into a 2% Net Smelter Returns Royalty ("NSR"); and if one Party has its interest converted into an NSR the other Party shall have the right to buy 1% NSR for the sum of $1,000,000. If either party is reduced below a 10% interest, such interest shall be converted into a 2% Net Smelter Returns Royalty ("NSR") and the other Party shall have the right to buy a 1% NSR for the sum of $1,000,000.

If at any time one of the two parties of this agreement (the "Offeror") desires to sell, assign, or transfer all or any part of its rights and interest in this Agreement, the Joint Venture and the Claim (the "Sale Interest"), then the other Party of this agreement (an "Offeree") shall have a pre-emptive right to acquire such Sale Interest.

Mexivada has raised sufficient flow-through funds to conduct an initial drilling program on the Roger property, and would seek additional financings to fund further exploration and development efforts on the property. Mexivada has an office with secure sample storage, core sawing and logging facilities in South Porcupine, Ontario.

Mr. Richard Redfern, CEO and President of Mexivada, stated: "We are extremely pleased to option the prospective Roger property in the Matheson gold camp from Romios Gold. It is consistent with our company's strategy to explore and develop properties in areas with good gold potential, excellent infrastructure, and with near-term, drill-ready targets."

Mexivada is a diversified Canadian mineral exploration company focused on identifying, acquiring, advancing, joint venturing, and mining high-grade Gold-Silver, Tellurium, Diamond, and Rare Metal exploration projects in Mexico, Nevada, and Canada. Mexivada is managed by experienced and successful board members and advisors. The Company's President and CEO, Richard R. Redfern, M.Sc. and Certified Professional Geologist, a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the information contained in this news release, and evaluated the interpretations contained in this news release. For further information, please visit our web site at www.mexivada.com or contact us by e-mail at info@mexivada.com.

On behalf of the Board of Directors,

Richard R. Redfern, President & CEO

Mexivada Mining Corp.

Caution Concerning Forward-Looking Statements

This news release and related texts and images on Mexivada's website contain certain "forward-looking statements" including, but not limited to, statements relating to interpretation of mineralization potential, drilling and assay results, future exploration work, and the anticipated results of this work, including projected possible cashflows. Forward looking statements are statements that are not historical facts and are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in metals and diamond prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical, governmental, social, or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the company's projects; uncertainties involved in the interpretation of sampling and drilling results and other tests; the possibility that required permits and access agreements may not be obtained in a timely manner; risk of accidents, equipment breakdowns or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in these work programs.

Forward-looking statements contained in this release are based on the beliefs, estimates, and opinions of management on the date the statements are made. There can be no assurance that such statements will prove accurate. Actual results may differ materially from those anticipated or projected. Mexivada Mining Corp. undertakes no obligation to update these forward-looking statements if management's beliefs, estimates, opinions, or other factors, should change.