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

--------------------------------------------------------------------------------
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
the content of this announcement.
--------------------------------------------------------------------------------

companies/finances/shares/commodities

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)

end of announcement euro adhoc
--------------------------------------------------------------------------------

ots Originaltext: Miramonte Mining AG
Im Internet recherchierbar: http://www.presseportal.de

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

Branche: Metals & Minerals
ISIN: CH0028351796
WKN: A0MMH6
Börsen: Börse Frankfurt / Open Market / Entry Standard