Minefinders Corporation Ltd. announced today the full settlement of its $52.1 million convertible notes in accordance with their terms.

In settling the 2011 Notes, the Company issued 4,202,199 common shares on the conversion of $45.72 million face value of the 2011 Notes. The remaining 2011 Notes with a face value of $6.34 million were held to maturity and settled by a cash payment of $6.34 million in respect of the principal and $0.14 million in respect of accrued interest.

The 2011 Notes, which were issued in October 2006 and matured on December 15, 2011, had a face value of $52.1 million, an interest rate of 4.5% and were convertible at the election of the holders a rate of 91.9118 common shares per $1,000 principal amount of notes equal to $10.88 per share.

About Minefinders

Minefinders is a precious metals mining and exploration company and operates the Dolores gold and silver mine in Mexico. For more information, please visit our website at www.minefinders.com.

Minefinders Corporation Ltd.
Jonathan Hackshaw
Director of Corporate Communications
Toll Free: (866) 687-6263

Minefinders Corporation Ltd.
Mike Wills
Investors Relations Representative
Toll Free: (866) 687-6263

Source: Minefinders Corporation Ltd.