Report on Exploration certifies the high potential of the Miramonte Mining Yellowsur gold mine project in Ecuador

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Zürich (euro adhoc) - Zürich, March 5th, 2008. Miramonte Mining (ISIN
CH0028351796 / WKN A0MMH6) today announced the publishing of a report on
exploration potential for the Yellowsur gold mine project in the Bucay area in
the province of Bolivar, Ecuador. The report was prepared by DUNCAN BAIN
CONSULTING LTD. Duncan Bain is an independent exploration and mining geologist
from London, Ontario in Canada.

The exploration report certifies the high mining potential of the 4 concessions
owned by Miramonte Mining in the Yellowsur area. Nine samples of typical ore
were taken by the geologist Duncan Bain from veins underground and three
additional samples were taken from the mill processing this material. "These
samples returned values ranging from 0.028g/T to 138 g/T gold. The results were
similar to those taken by Explotaciones Auriferas del Sur Yellowsur Cia. Ltda.,
the company who sold the concessions to Miramonte Mining", Alberto Fierro,
Managing Director of Miramonte Mining AG in Ecuador, adds.

In his report about the two currently active levels, Duncan Bain gives a
preliminary estimate of the gold resources in Yellowsur. The length of strike is
estimated on 500 metres, the average width on 0.8 metres and the depth on 1,700
metres. This would produce an assessed tonnage of 272,000 tonnes for each of the
eight veins reported in the area of Nueva Esperanza mine, in the southwest part
of Yellowsur. Assuming they are of similar size a total resource of 2.28 million
tonnes could be roughly estimated. Current assay values from the geologist and
historical data from Yellowsur Cia. Ltda. give an average grade of approximately
8g/T gold, for a total of approximately 17 million grams or 500.000 ounces.

"With improved mining and milling methods this resources can be taken advantage
of. Miramonte Mining could be able to improve the output of the Yellowsur
Project up to 4 million tonnes. At 7g/T this resources can produce 20.8 million
grams of gold or 900.000 ounces", explains Larry Williams, CEO of Miramonte
Mining AG.

The complete report on exploration potential can be ordered by E-Mail. Please
address your enquiry to investors@miramontemining.com.

About Miramonte Mining AG
Miramonte Mining AG is a small cap gold mining company with increasing portfolio
of projects in Ecuador and Nicaragua. The head office of the company is located
in Zürich, Switzerland. The stocks of Miramonte Mining are listed in the Open
Market in Frankfurt (ISIN CH0028351796 / WKN A0MMH6)

Further inquiry note:
Miramonte Mining AG fr financial relations gmbh
Tel +41 (0)43 500 16 23 Michael Goliath
Fax +41 (0)43 500 16 24 Tel +49 (0)69 95 90 83 12
E-Mail: investors@miramontemining.com Fax +49 (0)69 95 90 83 99
www.miramontemining.com E-Mail: m.goliath@financial-relations.de

end of announcement euro adhoc
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emitter: Miramonte Mining AG
Bellerivestrasse 28
CH-8008 Zürich
phone: +41 (0)43 500 16 23
FAX: +41 (0)43 500 16 24
mail: investors@miramontemining.com
WWW: www.miramontemining.com
sector: Metals & Minerals
ISIN: CH0028351796
indexes:
stockmarkets: Open Market / Entry Standard: Börse Frankfurt
language: English

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