Minefinders Corporation Ltd. reports that the open-pit, fully-diluted reserve base at its 100% owned Dolores gold and silver deposit in Chihuahua, Mexico has increased to 2.45 million ounces of gold and 127.9 million ounces of silver, or 4.48 million ounces of Aueq(i) – an overall increase of 24.9% in contained gold reserve and an increase of 23.5% in contained silver reserve.

The new reserves are contained in 100.2 million tonnes of proven and probable ore having an average diluted grade of 0.76 grams per tonne ("gpt") gold and 39.7 gpt silver (1.39 gpt Aueq(i)), using a 0.3 gpt Aueq cutoff grade, as determined by a new, fully-engineered pit plan recently completed by the Company.

The new pit plan is based upon the optimized bankable Dolores feasibility study reported on February 27, 2006, the revised resources estimates reported on April 25, 2006, and an assumed base case gold price of US $400/oz and silver price of US $7/oz.

(i)(Note: all "Aueq" (gold equivalencies) are reported at a 63:1, silver to gold, ratio as per the feasibility study).

The Company is proceeding rapidly with development and construction of the planned, 18,000 tonnes per day Dolores open-pit, heap leach mine. The mine is expected to produce an average of 6,480,000 tonnes of ore per annum, over a projected mine life of 15.5 years, with an overall strip ratio of 3.4:1.

Drilling is ongoing at Dolores to expand resources currently outside the proposed mine plan, and convert them to additional surface and underground mineable reserves, and to condemn areas outlined for the plant and pad facilities. Construction of development offices, a heavy equipment yard, and other facilities is underway. The Komatsu mining fleet has been ordered and is being assembled, with initial deliveries of trucks expected in the fourth quarter of this year. Crushers and processing equipment have been ordered and are in fabrication, with deliveries expected in the fourth quarter. All critical contracts for mine and facilities construction have now been executed.