Mirasol Upsizes Private Placement Financing to $7.4 Million

VANCOUVER, British Columbia, June 02, 2023 (GLOBE NEWSWIRE) -- Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol”) today announced that due to strong demand it has increased its previously announced non-brokered private placement from 4,000,000 units up to 5,920,000 units at a price of $1.25 per unit (the “Placement”). The aggregate gross proceeds of the offering are expected to be up to $7.4 million instead of the originally planned $5.0 million.

Mirasol’s Chairman, Patrick Evans, noted: “We upsized the offering to accommodate strong interest from key new investors. The increased demand validates the high-quality of our large portfolio of copper-gold-silver projects and demonstrates confidence in Mirasol’s operating team.”

In all other respects, the terms of the Placement will be as announced on May 17, 2023. The Placement is expected to close on or about June 7, 2023. Completion of the Placement is subject to the approval of the TSX Venture Exchange.

This press release is not an offer of common shares for sale in the United States. The Shares have not been and will not be registered under the U.S. Securities Act, or any state securities laws.

About Mirasol Resources Ltd

Mirasol is a well-funded exploration company with 18 years of operating, permitting and community relations experience in the mineral rich regions of Chile and Argentina. Mirasol controls 100% of the high-grade Virginia Silver Deposit in Argentina and is currently self-funding exploration at two flagship projects, Sobek and Inca Gold, both located in Chile. Mirasol also continues to advance a strong pipeline of highly prospective early and mid-stage projects.

For further information, contact:

Tim Heenan, President

or

Troy Shultz, Vice President Investor Relations

Tel: +1 (604) 602-9989

Email:

Website:

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry and to policies linked to pandemics, social and environmental related matters. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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