ANITA

The company commenced a comprehensive new exploration program. The program will include extensive drilling on targets determined from Minefinders's compilation and analysis of all available historical data (including results from drilling in the early 1970s) and the results of its 2004 surface and underground exploration work. The compiled data indicate excellent potential for the discovery of a large-tonnage, nearsurface, silver-and-base metal system. The necessary environmental permitting has now been completed and a first phase drill program, including twinning of several of the previous drill holes, will start shortly. The initial drill program will use a reverse-circulation rig that is presently completing the final three holes of a 22- hole drill program on Minefinders's Real Viejo silver project, located 10 kilometres to the northwest of Planchas de Plata. Results from the first half of the Real Viejo drilling are expected this month. Drill targets have also been established for the other five areas of the Planchas de Plata district for which there is no historic drill data. This drilling will attempt to expand the mineralized zones that demonstrate characteristics similar to those within the areas of historical production. These additional zones are covered by the current drilling permit application and will be available to drill as the exploration program expands.

Initial reconnaissance mapping and representative rock chip sampling on the Anita concession have identified significant silver mineralization in porous host rocks and along fractures over a wide area. Twenty-three initial reconnaissance samples were collected from old pits, outcrops, and road cuts scattered over a portion of the property. Twenty-one of the 23 samples were mineralized and averaged 224.9 g/t (6.57 oz/t) silver, with the highest value of 891 g/t (26.0 oz/t) silver over a two meter interval.