Minefinders Announces $40,020,000 Bought Deal

Minefinders Corporation Ltd. (the "Company" or "Minefinders") (TSX:MFL)(NYSE-A:MFN) is pleased to announce that it has entered into an agreement with a syndicate of underwriters under which the underwriters have agreed to purchase 9,200,000 Units (the "Units") from Minefinders for sale to the public at a price of C$4.35 per Unit, representing an aggregate issue of $40,020,000 (the "Offering"). Each Unit will consist of one Common Share of the Company (a "Common Share") and one-half of one Common Share Purchase Warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one Common Share of the Company, at a price of C$5.00 per Common Share, on or before December 31, 2011.

Minefinders has also granted the underwriters an over-allotment option, exercisable in whole or in part for a period of 30 days after Closing, to purchase up to an additional 1,380,000 Units at the Offering price per Unit.

The Offering will be led by Scotia Capital Inc. and BMO Capital Markets. The Offering is expected to close on or about December 11, 2008 and is subject to regulatory and stock exchange approvals.

The net proceeds of the Issue will be used to enhance working capital, reduce indebtedness and for general corporate purposes.

The Company has filed and received a receipt for a final base shelf prospectus (the "Final Prospectus") with the securities regulators in all provinces of Canada (except Quebec) and a registration statement relating to these securities has been filed with the United States Securities and Exchange Commission. Supplements to the Final Prospectus setting out the details of the Offering will also be filed with the securities commissions and delivered to all potential purchasers.

A copy of the Final Prospectus included in the U.S. Registration Statement can be obtained upon request by contacting Investor Relations at the contact information below. A copy of the Prospectus is available electronically at www.sedar.com. The transactions contemplated above are subject to the approval of the TSX.

About Minefinders

Minefinders is a precious metals mining and exploration company and operates the multi-million ounce Dolores gold and silver mine in Mexico. The Company continues its exploration efforts on other prospective projects in Mexico to build a quality pipeline of precious metals projects for future growth.

Safe Harbor Statement under the United States Private Securities Litigation Act of 1995: Statements in this release that are forward-looking and other statements that are based on the estimates, projections and expectations of management and include expectations with respect to offerings of securities, use of proceeds, activities and development of the Dolores project, exploration efforts and other statements that are not based on historical fact are subject to various risks and uncertainties concerning the specific factors identified above and in the Company's preliminary short form prospectus and periodic filings with the regulatory authorities in Canada and the United States. Such statements represent management's best judgment as of the date hereof based on information currently available. The Company does not intend to update this information and disclaims any legal liability to the contrary.

SOURCE: Minefinders Corporation Ltd.

Investor contact: Minefinders Corporation Ltd. Mike Wills (604) 687-6263 Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.minefinders.com