Orefinders Resources Inc. announced positive results of the company's Preliminary Economic Assessment (the PEA) of the South Zone Open Pit, part of the Mirado Gold Mine located to the southeast of Kirkland Lake, Ontario within the prolific gold producing Abitibi Greenstone Belt. This PEA considers only production from a specific area which encompasses approximately 5% of Orefinders' Mirado Project. The Mineral Resource contemplated within this PEA for mining is within the South Zone's open pit, and is near surface mineralization which can be economically mined within a relatively short time frame and without the use of an on-site processing or tailings facility. The company intends to use the free cash flow from this operation to develop what it sees as the true upside potential on the broader Mirado Project as well as other assets it owns. This PEA's economics indicate an after-tax internal rate of return for the project of 158% and a pre-tax undiscounted Net Present Value of CAD 30.8 million and a CAD 20.5 million after-tax NPV at a 5% discount rate. Payback on capital is reported at 7 months. Average gold price used is USD 1,300 per ounce and an exchange rate of 1.00 USD=0.76 CAD. The initial preproduction expenditure is estimated at CAD 2.4 million to achieve first production from the open pit. The project life is three years, after approximately six months of open pit pre-stripping. The Life of Mine cash (LOM) operating cost is USD 941 per ounce of gold, and the LOM all-in sustaining cost is USD 969 per ounce of gold. The Project is considered economically viable with the current Mineral Resource Estimate of 559,000 tonnes at an average grade of 2.61 g/t gold for 46,900 ounces of Indicated Mineral Resource and additional Inferred Mineral Resource of 382,000 tonnes at an average grade of 2.66 g/t gold for 32,700 ounces, based on a cut-off grade of 1.0 g/t gold.