Minefinders Corporation Ltd.: Dolores Silver Grade and Resource Significantly Increased.

Business Editors

VANCOUVER, B.C.--(BUSINESS WIRE)--June 7, 2001

Minefinders Corporation Ltd. (the "Company")(OTCBB:MNEFF)(TSE:MFL.), Mark H. Bailey, President and CEO, reports that ongoing metallurgical and geochemical tests indicate that silver grades and resource in the Dolores deposit, located in Chihuahua, Mexico, are significantly greater than previously estimated.

The new data is based upon multi-acid ("total") digestion ore-grade analyses of 307 mineralized drill samples by ALS-Chemex Labs in Vancouver. The economic impact of increased silver content and grade is expected to be substantial, as in-pit resources are effectively moved from waste to ore categories resulting in reduced strip ratios, additional silver production and accelerated cash flow. The previously reported resource for Minefinders' 100% owned Dolores Project was 2.45 million ounces of gold and 129.7 million ounces of silver (NR 9-18-2000).

The Company was originally alerted to the possibility of underreporting of silver values at Dolores when column-leach tests (by McClelland Labs) indicated that ores contained an average 30% more silver than that predicted from the original geochemical analysis of drill material. A check analysis of 307 five-foot samples from 12 drill holes representing different portions of the deposit showed significant increases in overall silver assay grades when total digestion techniques were used. These results confirm that silver has been underreported for the deposit. Of the 307 samples, 52 samples were re-assayed as check samples and results for 21 high-grade samples compared favorably to previous fire-assays. Check assays were used to assure high levels of quality control and confidence in these new results.

Comparison of aqua-regia digestion and multi-acid digestion assay results for low to mid-grade silver mineralization at Dolores (up to 100 g/t) are presented in Table 1 below. In addition, total digestion results compare favorably with high-grade (more than 100 g/t) fire assay quantitative results.

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Table 1
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Type of     Number    Avg. Grade   Avg. Grade   Percent     Percent
Mineral-    of        Ag Multi-    Ag Aqua      Change      of
ization     Samples   Acid g/t     Regia g/t                Resource
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Oxide        119        38.8        26.0      plus 49.4 %    33.1%
Mixed        105        28.7        24.5      plus 16.8 %    42.7%
Sulfide      62         34.2        33.6      plus  1.7 %    24.2%
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                                   Avg. Grade
                                   Fire Assay

High Grade   21        188.75      186.29           1.3%
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The Company consulted in detail with both ALS-Chemex quality assurance professionals and Bondar-Clegg Laboratories personnel in comparing the two analytical techniques. The industry standard, aqua regia digestion with Atomic Absorption (AA) analysis, used for all previous Dolores samples is considered a "partial" digestion, in laboratory terms. As reported by Steve Armstrong, manager of Bondar Clegg Laboratories in Hermosillo, Sonora, Mexico, "there are some areas, especially in Mexico, where the silver content is significantly higher in total digestion assays because partial digestion by aqua-regia results in reporting lower-grades of silver mineralization. This results in subsequent lower estimation of mineral resources, due to silver results that do not reflect true total content." At Dolores incomplete silver dissolution in aqua regia is believed to be due primarily to the presence of silver halide minerals that occur in substantial quantity within both oxidized and mixed oxide-sulfide material in the Dolores resource.

Recovery rates and percentage recoveries predicted by column leach tests were based upon total digestion analysis procedures and will not be affected by this new information. Total recovered silver from the deposit will reflect the increased silver grades and content of the deposit.

An extensive check assay program was followed by ALS-Chemex to confirm the new assay numbers. A total of 52 samples including several complete sample intervals were check assayed by ALS-Chemex to verify the new data. All samples from the intercepts have been stored in the ALS-Chemex storage facility in Chihuahua, Mexico, since the 2000 drill program and original pulps were retrieved by ALS-Chemex for reanalysis.

The projected impact of higher silver grades in the Dolores deposit is an increase in silver production, lower strip ratios, reduced production cost per ounce and accelerated cash flows.

Additional total digestion assays will be completed on mineralized drill intercepts from the Dolores deposit and results from these new silver grades incorporated into the block model. Comparison studies on the Company's other projects in Mexico are also being conducted to provide accurate assay data for silver. All gold assays from Dolores were done using fire assay techniques and therefore are not impacted by aqua regia digestion.

Quality assurance professionals from Chemex and Bondar Clegg and Minefinders management are qualified persons as defined by CSA/NI 43-101.

On Behalf of the Board of Directors MINEFINDERS CORPORATION LTD.

Mark H. Bailey, President and Chief Executive Officer

Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statements in this release that are forward-looking are subject to various risks and uncertainties concerning the specific factors identified above and in the corporation's periodic filings with the Ontario Securities Commission and the U. S. Securities Exchange Commission. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not intend to update this information and disclaims any legal liability to the contrary.