VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/14/12 -- MARIFIL MINES LTD. (TSX VENTURE:MFM) ("Marifil" or "the Company") announces that Marifil has regained ownership of the Mina El Carmen oil and gas property in Chubut Province, Argentina.

The Mina El Carmen project is an oil and gas property with a potential target of 8.1 billion cubic feet of natural gas and 6.4 million barrels of oil. Marifil's geologic report, including an estimate of target size, was prepared by an experienced Argentinian petroleum geologist who is a member of the American Association of Petroleum Geologists, but is not a Qualified Person as defined by NI 51-101. Therefore investors are cautioned that this estimated target is not a defined resource.

Mina El Carmen was sold to Ilakon Ltd. ("Ilakon"), a private company, in November 2010 for $250,000, an 8% royalty, and an annual minimum advance royalty of $75,000. Ilakon completed the $250,000 purchase and subsequently sold the property to Obtala Resources ("Obtala"), a British Company. Obtala (and/or Ilakon) failed to make the $75,000 advance royalty payment due in November 2012. Marifil exercised its right to cancel the contract and is now the owner of the property.

The property comprises four patented oil claims totalling 2,001 hectares located on the north flank of the Golfo San Jorge Basin in Chubut Province, Argentina (see El Carmen News Release dated October 16, 2007).

Twelve shallow wells were drilled on the property by private and government oil companies between 1928 and 1944, primarily to test a near-surface gas-bearing formation. Four of the wells have shut-in gas and two of the deeper wells reported oil and gas shows from deeper reservoirs. Several factors sharply limited the value of this early testing, including lack of technical ability, lack of seismic coverage, the use of now obsolete technology and placing wells where access was convenient rather than based on geology.

Marifil will begin looking for a new joint-venture partner for Mina El Carmen.

On Behalf of the Board of Directors,

John Hite, President

For further information regarding Marifil Mines Ltd., please refer to the Company's filings available on SEDAR (http://www.sedar.com) or at Marifil's Website (http://www.marifilmines.com).

This press release has been reviewed and approved by John Hite, President of Marifil Mines Ltd. and by Richard Walters, Vice President under whose directions the exploration program is being carried out. Mr. Hite and Mr. Walters are Qualified Persons as defined by National Instrument 43-101.

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