ARIZARO-LINDERO

Mansfield Minerals announced it has received an updated resource estimate from AMEC Americas Limited on its 100% owned Lindero oxide gold deposit located in northwestern Argentina. Significantly, for the measured and indicated category at a cut off grade of 0.30 grams/tonne, the new estimate shows an increase in gold grade of 6.7% over those of the previous (June 2008) estimate at 1.96 Moz while the number of ounces reduced by 6.2%. AMEC’s decision to emphasize the cut-off at 0.3 grams/tonne versus 0.45 grams/tonne as stated in the previous estimate is a function of increased confidence in project metrics as the prefeasibility study progresses.

Mansfield Minerals provided a prefeasibility study update on the Lindero heap leach oxide gold deposit, Salta Province, Argentina. AMEC Americas Limited is over-seeing completion of this study with a delivery date currently projected in late Q4 2009. The Lindero gold deposit hosts an NI 43-101 compliant measured and indicated oxide gold resource of 70.3 MT grading 0.72 grams/tonne containing 1.6 million oz gold. There is an additional 270,000 oz gold at 0.61 grams/tonne in the inferred category (Golder Associates, 2008). The afore-mentioned resources are calculated at a cut-off grade of 0.45 grams/tonne gold.

Reported progress towards the prefeasibility study. Geotechnical studies have been completed which included 1,200 m of drilling in five holes to determine pit slope stabilities. In addition, a seismic survey was executed to determine rippability characteristics of the Red Bed sequence surrounding the Lindero deposit Four blast tests totaling 30,000 tonnes were also undertaken, three of which were done in ore rock and the remaining test within waste rock. The objective of the blast testing is to determine sizing for conveying and crushing parameters