NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BC, November 28, 2011. Mirasol Resources Ltd. (TSX-V: MRZ, Frankfurt: M8R) (“Mirasol” and the “Company”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by Haywood Securities Inc. and including Macquarie Capital Markets Canada Inc. and Paradigm Capital Inc. (collectively the “Underwriters”), to sell 3,500,000 units (the “units”) of the Company at a price of C$3.30 per unit for aggregate proceeds of C$11,550,000 (the “Offering”). A unit will comprise one common share of Mirasol and one half of one share purchase warrant (a “warrant”). Each whole warrant entitles the holder to purchase one common share for a period of two years at a price of C$4.30 per share. The common shares and warrants are collectively referred to herein as the “Offered Securities”. The Offering is subject to TSX Venture Exchange acceptance.

The Company has granted the Underwriters the right to purchase an additional 500,000 units at C$3.30 per unit by the time of closing.

The Company intends to use the net proceeds of the Offering to conduct exploration activities on its 100%-held Virginia Silver Project located in Santa Cruz Province, Argentina, for exploration and development activities at other Mirasol properties, and for general corporate purposes.

The Underwriters will receive a cash commission equivalent to 6% of gross proceeds raised, and a share purchase warrants (“broker warrants”) of one common share equal to 5% of the number of units, at a price of C$3.30 for a period of two years.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

On behalf of the Board of Directors of Mirasol,

“Mary Little”

Mary L. Little President and CEO

Tel: (604) 602-9989;
Fax:(604) 609-9946
Email: contact@mirasolresources.com
Website: www.mirasolresources.com

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.