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  <TITLE>MINEFINDERS CORPORATION LTD. - FORM S-8 - PREPARED BY TNT FILINGS</TITLE>
  <META NAME="author" CONTENT="B&amp;G User">
  <META NAME="date" CONTENT="03/17/2003">
  
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  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:18pt; color:#000000" align=center><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:18pt; color:#000000" align=center><B>SECURITIES AND EXCHANGE COMMISSION<BR>
  <SMALL>WASHINGTON, D.C. 20549<BR>
  <BR>
  </SMALL>FORM S-8<BR>
  <SMALL>REGISTRATION STATEMENT<BR>
  UNDER THE SECURITIES ACT OF 1933<BR>
  <BR>
  </SMALL>MINEFINDERS CORPORATION LTD.<BR>
  </B><SMALL>(Exact name of Registrant as specified in its charter)<BR>
  </SMALL></P>
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  <TABLE style="margin-left:0pt" height="82"><TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=258 height="38"><P style="margin-left:0pt; margin-top:2.75pt; margin-right:0pt; margin-bottom:2.75pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=center><B>Ontario, Canada<BR>
  </B>(State or other jurisdiction of Incorporation or organization)</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=36 height="38">&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=282 height="38"><P style="margin-left:0pt; margin-top:2.75pt; margin-right:0pt; margin-bottom:2.75pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=center><B>Not Applicable<BR>
  </B>(I.R.S. Employer Identification No.)</P>
  </TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=576 colspan=3 height="36"><P style="margin-left:0pt; margin-top:2.75pt; margin-right:0pt; margin-bottom:2.75pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=center><B>2288 &#150; 1177 West Hastings Street, Vancouver, British Columbia, Canada &nbsp;V6E 2K3<BR>
  </B>Address of Principal Executive Offices</P>
  </TD></TR>
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  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
  <CENTER>
  <TABLE style="margin-left:0pt"><TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=734.4 colspan=3><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:11.5pt; font-size:10pt; color:#000000" align=center><B>Minefinders Corporation Ltd. 1998 Stock Option Plan</B></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=734.4 colspan=3><P style="margin-left:0pt; margin-top:2.75pt; margin-right:0pt; margin-bottom:2.75pt; padding:0pt; text-indent:0pt; line-height:9.2pt; font-size:9pt; color:#000000" align=center>(Full titles of the plans)</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=11.933>&nbsp;</TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=722.467 colspan=2>&nbsp;</TD></TR>
  </TABLE>
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  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:8pt; color:#000000" align=center>&nbsp;</P>
  <P style="margin-left:0pt; margin-top:2.25pt; margin-right:0pt; margin-bottom:2.25pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=center><B>Mark H. Bailey<BR>
  2288 &#150; 1177 West Hastings Street, <BR>
  Vancouver, British Columbia, Canada &nbsp;V6E 2K3<BR>
  </B>(Name and address of agent for service)</P>
  <P style="margin-left:0pt; margin-top:2.25pt; margin-right:0pt; margin-bottom:2.25pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=center><B>(604) 687-6263<BR>
  </B>(Telephone number, including area code, of agent for service)</P>
  <P style="margin-left:0pt; margin-top:2.25pt; margin-right:0pt; margin-bottom:2.25pt; padding:0pt; text-indent:0pt; font-size:9pt; color:#000000" align=center><BR></P>
  <P style="margin-left:0pt; margin-top:2.25pt; margin-right:0pt; margin-bottom:2.25pt; padding:0pt; text-indent:0pt; line-height:11pt; font-size:9pt; color:#000000" align=center>With a copy to</P>
  <P style="margin-left:0pt; margin-top:2.25pt; margin-right:0pt; margin-bottom:2.25pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B>Richard Harris, Esq.<BR>
  Harris &amp; Thompson<BR>
  6121 Lakeside Drive, Suite 260<BR>
  Reno, Nevada 89511<BR>
  (775) 825-4300</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:8pt; color:#000000" align=center>&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:8pt; color:#000000" align=center>&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:13pt; font-size:11pt; color:#000000" align=center><B>CALCULATION OF REGISTRATION FEE</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:11pt; color:#000000" align=center><BR></P>
  <TABLE style="margin-left:0pt; border-collapse:collapse" cellspacing="0" cellpadding="0" bordercolor="#111111" border="0" width="885"><TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid; border-top-style:solid" align=left valign=top width=177>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-top-style:solid" align=right valign=top width=118>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-top-style:solid" align=right valign=top width=165>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-top-style:solid" align=right valign=top width=85>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-top-style:solid" align=right valign=top width=93>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid; border-top-style:solid" align=right valign=top width=127>&nbsp;</TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Title of Each Class of</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=118><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Amount to</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=165><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Proposed Maximum Offering</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=198 colspan=2><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Proposed Maximum Aggregate</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid" align=right valign=top width=127><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Amount of</P>
  </TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid; border-bottom-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Securities to be Registered<SUP>(1)</SUP></P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-bottom-style:solid" align=right valign=top width=118><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">be Registered</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-bottom-style:solid" align=right valign=top width=165><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Price Per Share</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-bottom-style:solid" align=right valign=top width=198 colspan=2><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Offering Price</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid; border-bottom-style:solid" align=right valign=top width=127><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Registration Fee</P>
  </TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Common Shares subject to</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=118>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=165>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=198 colspan=2>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid" align=right valign=top width=127>&nbsp;</TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">outstanding options</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=118><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">2,790,000</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=165><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">US$2.478</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=198 colspan=2><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">US$ 6,916,072.03</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid" align=right valign=top width=127><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">US$ 559.51</P>
  </TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Common Shares not subject</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=118>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=165>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=85>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=93>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid" align=right valign=top width=127>&nbsp;</TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">to outstanding options</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=118><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">200,848</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=165><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">
    US$4.875</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=198 colspan=2><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">US$ 979,134.00</P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid" align=right valign=top width=127><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">US$ 79.21</P>
  </TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid" align=left valign=top width=177>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=118>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=165>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=85>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=right valign=top width=93>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid" align=right valign=top width=127>&nbsp;</TD></TR>
  <TR>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-left-style:solid; border-bottom-style:solid" align=left valign=top width=177><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Total</B></P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-bottom-style:solid" align=right valign=top width=118><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>2,990,848 shares</B></P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-bottom-style:solid" align=right valign=top width=165>&nbsp;</TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-bottom-style:solid" align=right valign=top width=198 colspan=2><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>US$ 7,895,206.03</B></P>
  </TD>
    <TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border-right-style:solid; border-bottom-style:solid" align=right valign=top width=127><P style="margin:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>US$ 638.72</B></P>
  </TD></TR>
  </TABLE>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:-10pt; padding-left:21.6pt; padding-top:0pt; padding-right:-36.05pt; padding-bottom:0pt; text-indent:-21.6pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>(1)</P>
  <P style="margin:0pt; padding-left:21.6pt; padding-top:0pt; padding-right:-36.05pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>Common Shares, without par value, offered by the Company pursuant to the Plans described herein.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-10pt; padding-left:21.6pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-21.6pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>(2)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:21.6pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>Based on the average exercise price of options granted under the Minefinders Corporation Ltd. 1998 Stock Option Plan outstanding as of the date of the filing of this registration statement.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-10pt; padding-left:21.6pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-21.6pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>(3)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:21.6pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>The proposed maximum offering price per share and the registration fee were calculated in accordance with rule 457(c) and (h) based on the average high and low prices for the Registrant&#146;s common shares on February 28, 2003, as quoted on the American Stock Exchange, which was US$ 5.99 per share.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-10pt; padding-left:21.6pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-21.6pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>(4)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:21.6pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:10pt; font-size:8pt; color:#000000" align=justify>U.S. dollar amounts are calculated based on the noon buying rate in New York City for cable transfers payable in Canadian dollars as certified for customs purposes by the Federal Reserve Bank of New York on March 13, 2003. &nbsp;On such date the noon buying rate was Cdn.$ 1.00=US$ 0.6732.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>This registration statement on Form S-8 registers common shares of Minefinders Corporation Ltd. (the &#147;Registrant&#148;) to be issued pursuant to the exercise of options or rights granted under the Minefinders Corporation Ltd. 1998 &nbsp;Stock Option Plan.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:10pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=center><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B>PART II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 3. &nbsp;Incorporation of Documents by Reference.</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The documents listed in (a) through (c) below are incorporated by reference in this registration statement.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(a)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The Registrant&#146;s Annual Report on Form 20-F for the fiscal year ended December 31, 2001, filed with the Securities and Exchange Commission on June 11, 2002; </P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(b)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, since the end of the fiscal year covered by the annual report incorporated by reference herein pursuant to (a) above.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(c)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The description of the Registrant's securities contained in the Registrant's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on January 17, 2003, including any amendment or report filed for the purpose of updating such description.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 4. &nbsp;Description of Securities.</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Not Applicable</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 5. &nbsp;Interests of Named Experts and Counsel.</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>None</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 6. &nbsp;Indemnification of Directors and Officers.</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The Company&#146;s Bylaws and Articles of Incorporation provide that the Company shall, subject to the limitations contained in the Business Corporation&#146;s Act (Ontario), indemnify all directors and officers of the Company. &nbsp;Section&nbsp;136 of the Business Corporations Act (Ontario) provides in part that a corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or a person who acts or acted at the corporation's request as a director or officer of a body corporate of which the corporation is or was a shareholder or creditor, and his or her heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal or administrative action or proceeding to which he or she is made a party by reason of being or having been a director or officer of such corporation or body corporate, if,</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(a) he or she acted honestly and in good faith with a view to the best interests of the corporation; and</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, he or she had reasonable grounds for believing that his or her conduct was lawful.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The Company&#146;s Bylaws and Articles of Incorporation provide that with the approval of the court, the Company may indemnify a present or former director or officer of the Company or of another corporation of which the Company is or was a shareholder, and his heirs and personal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, actually and reasonably incurred by him, including an amount paid to settle an action or satisfy a judgment in a civil, criminal or administrative action or proceeding to which he is made a party by reason of his position provided that the director or officer acted honestly and in good faith with a view to the best interests of the corporation in respect of which he held the position, and, in the case of a criminal or administrative action or proceeding, had reasonable grounds for believing that his conduct was lawful. &nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The Registrant maintains Directors&#146; and Officers&#146; Liability Insurance for its Directors.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 7. &nbsp;Exemption from Registration Claimed.</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Not Applicable</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 8. &nbsp;Exhibits.</B></P>
  <TABLE style="margin-left:0pt; border-collapse:collapse" bordercolorlight="#000000" cellspacing="0" bordercolordark="#000000" border="1" bordercolor="#111111" cellpadding="0"><TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=114.933>
    <P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:-28.8pt; line-height:12pt; font-size:10pt; color:#000000" align="center"><B><U>Exhibit Number</U></B></P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=372.267><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B><U>Exhibit</U></B></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=114.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:31pt; line-height:12pt; font-size:10pt; color:#000000">4.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=372.267><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>
    <a href="minefindersoptionplan.htm">Minefinders Corporation Ltd. 1998 &nbsp;Stock Option Plan</a></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=114.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:31pt; line-height:12pt; font-size:10pt; color:#000000">5.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=372.267><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>
    <a href="minefindersregistration.htm">Opinion and Consent of Ogilvy Renault</a></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=114.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:26pt; line-height:12pt; font-size:10pt; color:#000000">23.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=372.267><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Consent of Ogilvy Renault (included in Exhibit 5.1)</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=114.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:26pt; line-height:12pt; font-size:10pt; color:#000000">23.2</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=372.267><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>
    <a href="minefindersconsent.htm">Consent of BDO Dunwoody LLP</a></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=114.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:26pt; line-height:12pt; font-size:10pt; color:#000000">24.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=372.267><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Power of Attorney (included in signature page)</P>
  </TD></TR>
  </TABLE>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><B>Item 9. &nbsp;Undertakings.</B></P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>A.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The undersigned Registrant hereby undertakes: &nbsp;</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(1)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(i)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(ii)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. &nbsp;Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the &#147;Calculation of Registration Fee&#148; table in the effective registration statement.</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(iii)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:72pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(2)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and </P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>(3)</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:54pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>B.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Company&#146;s annual report pursuant to Section&nbsp;13(a) or Section&nbsp;15(d) of the Securities Exchange Act of 1934, as amended, (and, where applicable, each filing of an employee benefit plan&#146;s annual report pursuant to section 15(d) of the Securities Exchange Act of 1934, as amended) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</P>
  <P style="margin-left:0pt; margin-top:10pt; margin-bottom:-12pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:-18pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>C.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:36pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. &nbsp;In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <BR>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:10pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B>SIGNATURES</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify><U>The Registrant</U>. &nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada, on this 14th day of March, 2003.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify><B>MINEFINDERS CORPORATION LTD.</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>By:<I><U>/s/</U></I><U> &#147;</U><I><U>Mark H. Bailey</U></I><U>&#148;</U></P>
  <U><P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:288pt; font-size:10pt; color:#000000" align=justify><BR></U></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000">Name: Mark H. Bailey<BR>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: President and CEO</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000">&nbsp;</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>By:<I><U>/s/ &#147;Jon N. Morda&#148;</U></I></P>
  <U><P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:288pt; font-size:10pt; color:#000000" align=justify><BR></U></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000">Name: </P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:72pt; line-height:12pt; font-size:10pt; color:#000000">Jon N. Morda<BR>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Title: Chief Financial Officer
  </P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:-12pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000"> <BR>
  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Principal Financial Officer and Accounting Officer)</P>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:8.35pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>&nbsp;</P>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:8.35pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.</P>
  <TABLE style="margin-left:0pt; border-collapse:collapse" cellspacing="0" bordercolor="#111111" cellpadding="0"><TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=302.4><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center>Signature</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center>Title</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center>Date</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=302.4><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><I><U>/s/&#148;Mark H. Bailey&#148;</U></I></P>
  <U><P style="margin:0pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000"><BR>
  </U>Mark H. Bailey</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">President, CEO and Director (Authorized &nbsp;&nbsp;&nbsp;&nbsp;U. S. Representative)</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">March 14, 2003</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=302.4><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><I><U>/s/&#148;Paul C. MacNeill&#148;</U></I></P>
  <I><U></U></I><U><P style="margin:0pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000"><BR>
  </U>Paul C. MacNeill</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Secretary and Director</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">March 7, 2003</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=302.4><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><I><U>/s/&#148;James M. Dawson&#148;</U></I></P>
  <U><P style="margin:0pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000"><BR>
  </U>James Martin Dawson</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Director</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">March 14, 2003</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=302.4><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><I><U>/s/&#148;H. Leo King&#148;</U></I></P>
  <U><P style="margin:0pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000"><BR>
  </U>H. Leo King</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Director</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">March 14, 2003</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=302.4><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><I><U>/s/&#148;Robert Leclerc&#148;</U></I></P>
  <U><P style="margin:0pt; padding:0pt; text-indent:180pt; line-height:12pt; font-size:10pt; color:#000000"><BR>
  </U>Robert Leclerc</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">Director</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt; border:0.5pt solid #000000" align=left valign=top width=168><P style="margin-left:0pt; margin-top:8.35pt; margin-right:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000">March 6, 2003</P>
  </TD></TR>
  </TABLE>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify><B>The Plan</B></P>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Pursuant to the requirements of the Securities Act of 1933, the trustees (or other persons who administer the employee benefit plan) have duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada on March 14, 2003.</P>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000"><U>Minefinders Corporation Ltd. 1998 Stock Option Plan</U></P>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>By: &nbsp;<U>/s/&#148;</U><I><U>Mark H. Bailey&#148;</U></I></P>
  <I><U><P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:248.4pt; font-size:10pt; color:#000000" align=justify><BR></U></I></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:18pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Mark H. Bailey</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:18pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>President, CEO and Director</P>
  <P style="margin-left:0pt; margin-top:8.35pt; margin-bottom:-12pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>By: &nbsp;<U>/s/ </U><I><U>&#147;Paul C. MacNeil&#148;l</U></I></P>
  <U><P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:248.4pt; font-size:10pt; color:#000000" align=justify><BR></U></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:18pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Paul C. MacNeill</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding-left:18pt; padding-top:0pt; padding-right:0pt; padding-bottom:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Secretary and Director</P>
  <BR>
  <BR>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:10pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B>POWER OF ATTORNEY</B></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Each person whose signature appears below constitutes and appoints Mark H. Bailey and Paul C. MacNeill, his attorney-in-fact, with the power of substitution, for them in any and all capacities, to sign any amendments to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000" align=justify><BR></P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the date indicated.</P>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:36pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>&nbsp;</P>
  <table class="MsoNormalTable" border="1" cellspacing="0" cellpadding="0" style="border-collapse: collapse" bordercolorlight="#000000" bordercolordark="#000000">
    <tr style="page-break-inside:avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:6.0pt;text-align:center;
    line-height:94%"><b><u>Signature</u></b></td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:6.0pt;line-height:94%"><b><u>Title</u></b></td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:6.0pt;line-height:94%"><b><u>Date</u></b></td>
    </tr>
    <tr style="page-break-inside:avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:12.0pt;text-align:center;
    line-height:94%"><br>
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>/s/"Mark H. Bailey"</i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
      Mark H. Bailey</td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%"><br>
      <br>
      President, Chief Executive Officer and Director (Principal Executive
      Officer) (Authorized U. S. Representative)</td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom: 12.0pt"><br>
      March 6, 2003</td>
    </tr>
    <tr style="page-break-inside:avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:12.0pt;text-align:center;
    line-height:94%"><br>
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>/s/"Paul C. MacNeill"</i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
      Paul C. MacNeill</td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%"><br>
      <br>
      Secretary and Director</td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom: 12.0pt"><br>
      March 7, 2003</td>
    </tr>
    <tr style="page-break-inside:avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:12.0pt;text-align:center;
    line-height:94%"><br>
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>/s/"James Martin Dawson"</i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
      James Martin Dawson</td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%"><br>
      <br>
      Director<br>
      <br>
  &nbsp;</td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom: 12.0pt"><br>
      March 6, 2003</td>
    </tr>
    <tr style="page-break-inside:avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:12.0pt;text-align:center;
    line-height:94%"><br>
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>/s/"H. Leo King" </i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
      H. Leo King</td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%">&nbsp;</p>
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%">Director<br>
      <br>
  &nbsp;</td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom: 12.0pt"><br>
      March 6, 2003</td>
    </tr>
    <tr style="page-break-inside:avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:12.0pt;text-align:center;
    line-height:94%"><br>
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>/s/"Robert Leclerc"</i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
      Robert Leclerc</td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%"><br>
      <br>
      Director</td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom: 12.0pt"><br>
      March 6, 2003</td>
    </tr>
    <tr style="page-break-inside: avoid">
      <td width="235" valign="top" style="width:2.45in;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" align="center" style="margin-bottom:12.0pt;text-align:center;
    line-height:94%"><br>
      <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <i>/s/"Jon N. Morda"</i>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </u><br>
      Jon N. Morda</td>
      <td width="276" valign="top" style="width:207.0pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom:12.0pt;line-height:94%"><br>
      <br>
      Chief Financial Officer<br>
      (Principal Financial Officer and Accounting Officer)</td>
      <td width="137" valign="top" style="width:102.6pt;padding:0in 5.4pt 0in 5.4pt">
      <p class="MsoNormal" style="margin-bottom: 12.0pt"><br>
      March 7, 2003</td>
    </tr>
  </table>
  <BR>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:10pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B>EXHIBIT INDEX</B></P>
  <TABLE style="margin-left:0pt; border-collapse:collapse" bordercolorlight="#000000" cellspacing="0" bordercolordark="#000000" border="1" bordercolor="#111111" cellpadding="0"><TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=120.933><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B><U>Exhibit Number</U></B></P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=371.067><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=center><B><U>Exhibit</U></B></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=120.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:31pt; line-height:12pt; font-size:10pt; color:#000000">4.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=371.067><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>
    <a href="minefindersoptionplan.htm">Minefinders Corporation Ltd. 1998 Stock Option Plan</a></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=120.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:31pt; line-height:12pt; font-size:10pt; color:#000000">5.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=371.067><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>
    <a href="minefindersregistration.htm">Opinion and Consent of Ogilvy Renault</a></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=120.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:26pt; line-height:12pt; font-size:10pt; color:#000000">23.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=371.067><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Consent of Ogilvy Renault (included in Exhibit 5.1)</P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=120.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:26pt; line-height:12pt; font-size:10pt; color:#000000">23.2</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=371.067><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>
    <a href="minefindersconsent.htm">Consent of BDO Dunwoody LLP</a></P>
  </TD></TR>
  <TR><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=120.933><P style="margin-left:0pt; margin-top:0pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:26pt; line-height:12pt; font-size:10pt; color:#000000">24.1</P>
  </TD><TD style="padding-left:7.2pt; padding-top:0pt; padding-right:7.2pt; padding-bottom:0pt" align=left valign=top width=371.067><P style="margin-left:0pt; margin-top:2.5pt; margin-right:0pt; margin-bottom:2.5pt; padding:0pt; text-indent:0pt; line-height:12pt; font-size:10pt; color:#000000" align=justify>Power of Attorney (included in signature page)</P>
  </TD></TR>
  </TABLE>
  <P style="margin-left:0pt; margin-top:0pt; margin-bottom:0pt; padding:0pt; text-indent:0pt; font-size:10pt; color:#000000"><BR></P>
  <BR>
  &nbsp;</BODY></HTML>
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text: MINEFINDERS CORPORATION LTD. - FORM S-8 - PREPARED BY TNT FILINGS
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM S-8
  REGISTRATION STATEMENT
  UNDER THE SECURITIES ACT OF 1933
  MINEFINDERS CORPORATION LTD.
  (Exact name of Registrant as specified in its charter)
  Ontario, Canada
  (State or other jurisdiction of Incorporation or organization)
  Not Applicable
  (I.R.S. Employer Identification No.)
  2288 – 1177 West Hastings Street, Vancouver, British Columbia, Canada  V6E 2K3
  Address of Principal Executive Offices
  Minefinders Corporation Ltd. 1998 Stock Option Plan
  (Full titles of the plans)
  Mark H. Bailey
  2288 – 1177 West Hastings Street,
  Vancouver, British Columbia, Canada  V6E 2K3
  (Name and address of agent for service)
  (604) 687-6263
  (Telephone number, including area code, of agent for service)
  With a copy to
  Richard Harris, Esq.
  Harris & Thompson
  6121 Lakeside Drive, Suite 260
  Reno, Nevada 89511
  (775) 825-4300
  CALCULATION OF REGISTRATION FEE
  Title of Each Class of
  Amount to
  Proposed Maximum Offering
  Proposed Maximum Aggregate
  Amount of
  Securities to be Registered
  (1)
  be Registered
  Price Per Share
  Offering Price
  Registration Fee
  Common Shares subject to
  outstanding options
  2,790,000
  US$2.478
  US$ 6,916,072.03
  US$ 559.51
  Common Shares not subject
  to outstanding options
  200,848
  US$4.875
  US$ 979,134.00
  US$ 79.21
  Total
  2,990,848 shares
  US$ 7,895,206.03
  US$ 638.72
  (1)
  Common Shares, without par value, offered by the Company pursuant to the Plans described herein.
  (2)
  Based on the average exercise price of options granted under the Minefinders Corporation Ltd. 1998 Stock Option Plan outstanding as of the date of the filing of this registration statement.
  (3)
  The proposed maximum offering price per share and the registration fee were calculated in accordance with rule 457(c) and (h) based on the average high and low prices for the Registrant's common shares on February 28, 2003, as quoted on the American Stock Exchange, which was US$ 5.99 per share.
  (4)
  U.S. dollar amounts are calculated based on the noon buying rate in New York City for cable transfers payable in Canadian dollars as certified for customs purposes by the Federal Reserve Bank of New York on March 13, 2003.  On such date the noon buying rate was Cdn.$ 1.00=US$ 0.6732.
  This registration statement on Form S-8 registers common shares of Minefinders Corporation Ltd. (the "Registrant") to be issued pursuant to the exercise of options or rights granted under the Minefinders Corporation Ltd. 1998  Stock Option Plan.
  PART II.         
  INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
  Item 3.  Incorporation of Documents by Reference.
  The documents listed in (a) through (c) below are incorporated by reference in this registration statement.
  (a)
  The Registrant's Annual Report on Form 20-F for the fiscal year ended December 31, 2001, filed with the Securities and Exchange Commission on June 11, 2002;
  (b)
  All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, since the end of the fiscal year covered by the annual report incorporated by reference herein pursuant to (a) above.
  (c)
  The description of the Registrant's securities contained in the Registrant's Registration Statement on Form 8-A filed with the Securities and Exchange Commission on January 17, 2003, including any amendment or report filed for the purpose of updating such description.
  All documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Securities Exchange Act of 1934, as amended, after the date hereof and prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold shall be deemed to be incorporated by reference herein and to be a part hereof from the date of filing of such documents.
  Item 4.  Description of Securities.
  Not Applicable
  Item 5.  Interests of Named Experts and Counsel.
  None
  Item 6.  Indemnification of Directors and Officers.
  The Company's Bylaws and Articles of Incorporation provide that the Company shall, subject to the limitations contained in the Business Corporation's Act (Ontario), indemnify all directors and officers of the Company.  Section 136 of the Business Corporations Act (Ontario) provides in part that a corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or a person who acts or acted at the corporation's request as a director or officer of a body corporate of which the corporation is or was a shareholder or creditor, and his or her heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal or administrative action or proceeding to which he or she is made a party by reason of being or having been a director or officer of such corporation or body corporate, if,
  (a) he or she acted honestly and in good faith with a view to the best interests of the corporation; and
  (b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, he or she had reasonable grounds for believing that his or her conduct was lawful.
  The Company's Bylaws and Articles of Incorporation provide that with the approval of the court, the Company may indemnify a present or former director or officer of the Company or of another corporation of which the Company is or was a shareholder, and his heirs and personal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, actually and reasonably incurred by him, including an amount paid to settle an action or satisfy a judgment in a civil, criminal or administrative action or proceeding to which he is made a party by reason of his position provided that the director or officer acted honestly and in good faith with a view to the best interests of the corporation in respect of which he held the position, and, in the case of a criminal or administrative action or proceeding, had reasonable grounds for believing that his conduct was lawful.
  The Registrant maintains Directors' and Officers' Liability Insurance for its Directors.
  Item 7.  Exemption from Registration Claimed.
  Not Applicable
  Item 8.  Exhibits.
  Exhibit Number
  Exhibit
  4.1
  Minefinders Corporation Ltd. 1998  Stock Option Plan
  5.1
  Opinion and Consent of Ogilvy Renault
  23.1
  Consent of Ogilvy Renault (included in Exhibit 5.1)
  23.2
  Consent of BDO Dunwoody LLP
  24.1
  Power of Attorney (included in signature page)
  Item 9.  Undertakings.
  A.
  The undersigned Registrant hereby undertakes:
  (1)
  to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
  (i)
  to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
  (ii)
  to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement.  Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement.
  (iii)
  to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
  (2)
  that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
  (3)
  to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
  B.
  The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Company's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934, as amended, (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange Act of 1934, as amended) that is incorporated by reference in the Registration Statement shall be deemed to be a new Registration Statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
  C.
  Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Company pursuant to the foregoing provisions, or otherwise, the Company has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the Company of expenses incurred or paid by a director, officer or controlling person of the Company in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Company will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
  SIGNATURES
  The Registrant
  .  Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada, on this 14th day of March, 2003.
  MINEFINDERS CORPORATION LTD.
  By:
  /s/
  "
  Mark H. Bailey
  "
  Name: Mark H. Bailey
  Title: President and CEO
  By:
  /s/ "Jon N. Morda"
  Name:
  Jon N. Morda
  Title: Chief Financial Officer
  (Principal Financial Officer and Accounting Officer)
  Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.
  Signature
  Title
  Date
  /s/"Mark H. Bailey"
  Mark H. Bailey
  President, CEO and Director (Authorized     U. S. Representative)
  March 14, 2003
  /s/"Paul C. MacNeill"
  Paul C. MacNeill
  Secretary and Director
  March 7, 2003
  /s/"James M. Dawson"
  James Martin Dawson
  Director
  March 14, 2003
  /s/"H. Leo King"
  H. Leo King
  Director
  March 14, 2003
  /s/"Robert Leclerc"
  Robert Leclerc
  Director
  March 6, 2003
  The Plan
  Pursuant to the requirements of the Securities Act of 1933, the trustees (or other persons who administer the employee benefit plan) have duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Vancouver, Province of British Columbia, Canada on March 14, 2003.
  Minefinders Corporation Ltd. 1998 Stock Option Plan
  By:
  /s/"
  Mark H. Bailey"
  Mark H. Bailey
  President, CEO and Director
  By:
  /s/
  "Paul C. MacNeil"l
  Paul C. MacNeill
  Secretary and Director
  POWER OF ATTORNEY
  Each person whose signature appears below constitutes and appoints Mark H. Bailey and Paul C. MacNeill, his attorney-in-fact, with the power of substitution, for them in any and all capacities, to sign any amendments to this registration statement, and to file the same, with exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorneys-in-fact, or their substitute or substitutes, may do or cause to be done by virtue hereof.
  Pursuant to the requirements of the Securities Act of 1933, as amended, this registration statement has been signed by the following persons in the capacities and on the date indicated.
  Signature
  Title
  Date
  /s/"Mark H. Bailey"
  Mark H. Bailey
  President, Chief Executive Officer and Director (Principal Executive
      Officer) (Authorized U. S. Representative)
  March 6, 2003
  /s/"Paul C. MacNeill"
  Paul C. MacNeill
  Secretary and Director
  March 7, 2003
  /s/"James Martin Dawson"
  James Martin Dawson
  Director
  March 6, 2003
  /s/"H. Leo King"
  H. Leo King
  Director
  March 6, 2003
  /s/"Robert Leclerc"
  Robert Leclerc
  Director
  March 6, 2003
  /s/"Jon N. Morda"
  Jon N. Morda
  Chief Financial Officer
  (Principal Financial Officer and Accounting Officer)
  March 7, 2003
  EXHIBIT INDEX
  Exhibit Number
  Exhibit
  4.1
  Minefinders Corporation Ltd. 1998 Stock Option Plan
  5.1
  Opinion and Consent of Ogilvy Renault
  23.1
  Consent of Ogilvy Renault (included in Exhibit 5.1)
  23.2
  Consent of BDO Dunwoody LLP
  24.1
  Power of Attorney (included in signature page)