Follow up exploration work confirms high grade mineral shoots in...

Follow up exploration work confirms high grade mineral shoots in Brasil Copper Mine, Southern Peru  Follow up exploration work undertaken in two reopened galleries and shafts in the Brasil vein I at the Company’s Cobrepampa project has intersected high grade massive copper-gold-silver ore shoots.  These results further enhance the sulphide mineralisation potential of the Brasil mine. Further results pending. Perth, Australia: May 29 th, 2015 – The Directors of Minera Gold Ltd (“Minera Gold” or the “Company”) (ASX:MIZ) are pleased to announce the results of ongoing detailed geological mapping and channel sampling completed at the Brasil copper mine, located in close proximity to the Company’s 100% San Santiago processing plant in Southern Peru. The follow up work consisted of mapping and systematic sampling in historical areas of the mine that were reopened by workers under Minera Gold’s supervision. A total of 13 samples were taken from sublevels, fronts and galleries. In both, the SE and NW reopened shafts, the mineralised ore shoots are in the hypogene zone, with massive chalcopyrite, pyrite and magnetite, with minor bornite in lenses and disseminated in the wall rocks. The alteration in the wall rocks is mostly secondary biotite, chlorite. The best channel sample results reported from this area of the mine are as follows:  0.60m grading 9.10% Cu, 4.53 g/t Au and 4.5 g/t Ag  0.85m grading 7.68% Cu, 2.08 g/t Au and 5.6 g/t Ag  1.08m grading 3.76% Cu, 1.13 g/t Au and 4.9 g/t Ag It should be also noted that whilst our work was being undertaken, workers in the mine uncovered an old gallery that was closed off by previous miners at Brasil vein I system and that this area of the mine has now been reopened. This gallery has more than 160 m in length appears that it was developed to intersect and mine a branch of the Brasil vein I. The Company are currently reopening the shafts that were sunk to mine the ore shoots, and a detailed mapping and systematic sampling program will be carried out in the following weeks. Consultation with our geophysical consultants has indicated that as soon as funding is available, a geophysical magnetic survey of the Brasil veins to be followed up drilling is the most economic method to determine the continuity of the shoots along strike and also at depth. Mr Ashley Pattison, Managing Director of Minera Gold, commented The work completed to date at the Brasil copper mine continues to illustrate to our team that this mine has the real potential to be a long term source of ore to the San Santiago plant in the near term and the opening up of old workings in the mine and identification of new high grade ore shoots is a very exciting development for Minera Gold from this asset”