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Minefinders Corporation

TICKER: TSX:MFL; NYSE.A:MFN

DESCRIPTION: Minefinders is a precious metals mining and exploration company. The company's flagship Dolores Mine in Mexico commenced production of gold and silver in November, 2008 and is expected to produce more than 1.7 million ounces of gold and 64.4 million ounces of silver from heap-leach operations over a 15.5 year mine life. There is potential to increase production from operations by increasing high-grade recoveries with the addition of a mill and by expanding the mine into areas of additional mineralization.

WEBSITE: http://www.minefinders.com

The information below is based on the most recent information we have received from analysts and the companies participating in The Gold Report. We encourage you to visit the company's web site for updates.

"Minefinders Corporation continues to see improvement as it brings the Dolores project up to its full commercial production level. Cash costs have been dropping and the company is now stripping and starting to mine a higher grade area of the deposit so the numbers should continue to improve. They will also be working on a preliminary economic study of adding a full mill to the project. We are very interested to see how that turns out since we have always liked the deeper high grade zones at Dolores. Higher grade zones are the main beneficiary when a sulphide milling system that has higher recoveries is added and the deeper zones at Dolores are still open to expansion. We've been watching to see how the recoveries come in on the heap leach operation and they do seem to be still improving.

One important aspect to heap leach operations that traders need to be aware of is that it takes two or three or even four quarters to get to steady state production levels and really see what the recoveries percentages are for gold and silver with this type of mining. MFL also has a couple of exploration projects they have been assembling for the past few years and once Dolores is generating the cash flows projected for it, we would not be surprised to see Minefinders on the hunt for acquisitions."
- The Gold Report Interview with Eric Coffin (03/01/10)

"I just returned from Phoenix where I gave a lecture on the mining cycle. If you look at Minefinders Corporation Ltd. and you look at the mining cycle, we bought that stock at around $1 and sold it at $13 right at the top. That's a classic. It's a good value at this point in time and I believe as things progress, it's undervalued now. Based on my lecture people will have a pretty good idea where this company could go over the next several years."
- The Gold Report Interview with David Morgan (02/26/10)

"Best-Performing Canadian Stocks Year-to-Date as of 12/27/2009. . .47 Minefinders Corp. Ltd. (TSE:MFL) 79.0%." View Entire Article
- NASD100.com (12/27/09)

"Further smaller gold names in very strong demand include North American listed Minefinders. . ." Read full article.
- Mineweb (11/04/09)

"Minefinders Corporation (TSX:MFL, NYSE.A:MFN) has doubled this year. It's up 104%. And, again, it's not fully up and operational on its new Dolores Mine. It's not until January of next year that it begins to hit its full recovery for silver. It's already hit its recovery rate for gold, but silver still is to come. So there's going to be plenty of basis to raise its target price."
- The Gold Report Interview with John Doody (10/23/09)

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