Marifil Mines Limited Announces Private Placement

Vancouver, British Columbia--(Newsfile Corp. - March 15, 2019) - Marifil Mines Limited (TSXV: MFM) (OTCQB: MFMLF) ("Marifil" or the "Company") is pleased to announce a non-brokered private placement consisting of the issuance of up to 14,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of up to $700,000 (the "Offering"), subject to the approval of the TSX Venture Exchange (the "Exchange"). Insiders may participate in the Offering.

Each Unit will consist of one common share of the Company (each, a "Share") and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one Share at a price of $0.07 per Share for a period of two years following the closing of the Offering (the "Closing").

The proceeds of the Offering will be used for general working capital.

All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months and one day after closing of the Offering. Completion of the Offering is subject to the approval of the Exchange. Any participation by insiders in the Offering will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") but is expected to be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.

None of the securities to be issued in connection with the Offering will be or have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This press release is being issued pursuant to Rule 135c of the 1933 Act and shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of the securities, in any state where such offer, solicitation or sale would be unlawful.

ON BEHALF OF MARIFIL MINES LIMITED
"Rob Abenante"
Robert Abenante, President & CEO

Contact Information:

Phone: 1-833-669- 6463
1-833-669- MINE
Email: info@marifilmines.com

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQB Venture Market accepts responsibility for the adequacy or accuracy of this release.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

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