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|  Target Potash Comments Marifil has identified two potash horizons in the same basin as Rio Tinto's Rio Colorado potash mine, the Upper Horizon and Lower Horizon. Recent analyses of gamma ray and electric logs from abandoned oil well drill holes on the property have confirmed the presence of a potash target greater than 200 square kilometres. Business / Work Plan In August 2008, the company signed a Letter of Intent (LOI) with Oxbow Holdings Corp. to the joint venture the property. The transaction with Oxbow is subject to approval by Marifil's board of directors and the TSXV. For complete details, please see news release dated August 12, 2008. Hectares 99,964 Overview The 100 percent owned K-2 potash project is comprised of 99,964 hectares and is located in the Neuquén Basin in Argentina. Marifil's recent exploration program between has resulted in the discovery of a potash target that potentially exceeds 200 square kilometres. The primary down-hole tool used for measuring the presence of potash is a gamma ray log, which detects naturally occurring gamma radiation being emitted by potassium salts (potash). Complimentary information supporting these logs includes well diameter, density, resistivity, induction and neutron logs. The company has analyzed logs from four existing oil well drill holes on the property -- Conin X1, Pillantoqui X1, YFP Quilimalal X-1 and YFP Pasa Hacha X-1 -- which show excellent stratigraphic correlations with each other. YFP Quilimalal X-1 and YFP Pasa Hacha X-1 have defined an area 18 kilometers long in a north-south direction and 13 kilometers wide in an east-west direction. Highlights include:
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