Mandorin Goldfields Inc.

Mandorin Goldfields Inc.

May 12, 2006 14:46 ET

Mandorin Files NI 43-101 Report For Klipwal Gold Mine Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 12, 2006) - Mandorin Goldfields Inc. ("Mandorin" or "the Company") (TSX VENTURE:MGD) is pleased to report that it has filed a technical report dated April 21, 2006 on the Klipwal Gold Mine Project prepared in accordance with National Instrument 43-101 ("NI 43-101") by Peter Haworth Pr. Eng, Pr, Sci. Nat. The technical report can be accessed on-line at and the Company's website The Klipwal Mine project is located in Kwazulu Natal in South Africa.

Mandorin's interest in the Klipwal Gold Mine is proposed to be held through Duration Gold Limited ("DGL"), the joint venture project development company that Mandorin founded and currently has a direct 39% interest in, and is subject to regulatory approval.

Limited sampling of the Klipwal mine arranged by Mandorin under the independent supervision of Mr. Peter Haworth has been completed. Results of 1,468 check samples have been returned following submission to SGS Lakefield in Johannesburg for fire assay and have indicated some correlation with historically reported sampling data. However, very high grade results (in some cases in excess of 100g/t) indicate the presence of nugget gold and the requirement for additional sampling using a revised sampling technique before resources can be re-estimated. While the results returned to date confirm attractive mineralisation in the blocks sampled, further work is required to accurately estimate the mineral resources.


Historic Reported Block Arithmetic average grade
Grade (Note: historic of check samples (no
Block name top cuts unknown) top cut applied)
Gold Sampled Gold Sampled
Grade(g/t) width Grade (g/t) width
8LR 7.4 g/t 259cm 10.3 g/t 189cm
8LH 10.7 g/t 150cm 22.7 g/t 165cm
10 South 10.8 g/t 174cm 9.75 g/t 130cm

The reader is referred to the NI 43-101 report filed on SEDAR and the company website for details regarding this work.

Klipwal is a previously producing gold mine with a current Mining License covering 7,927 hectares, installed milling capacity of some 7,000 tpm, extensive operative mine infrastructure including mine accommodation, equipped workshops, spares, offices and laboratory. Permitting is complete with the mine holding a current Mining Authority under the South African Minerals Act of 1991 and a fully funded Environmental Management Fund.

Reported recent (1981 to 2003) historical production from the Klipwal Mine is 170,000 ounces at a recovered gold grade of approximately 4.49 g/t. The vendor, who operated the mine between September 2000 and November 2003, reported a yield of 5.0 g/t from 174,000 tons milled at a average reported head grade of 6.3 g/t. Mining to date has extended over a strike length of 1,470 m and to a vertical depth of 454 m below shaft collar.

The mine closed in 2003 when the gold price was below US$370 per ounce suggesting that the mine presents a very attractive proposition for re-commissioning at the prevailing gold price and given the availability of almost complete plant and infrastructure.

The NI 43-101 report concludes that the mine and surrounding farms are considered an attractive mining and exploration project. A 12-month program is recommended in the report and includes re-commissioning the Main Shaft, de-watering to 14 Level and the sampling of 11 to 14 Levels in order to advance the project to a pre-feasibility study stage.

Mandorin, together with its joint venture partners, are currently reviewing opportunities to fast track the redevelopment of the mine by exploiting blocks above the flooded areas, while de-watering the lowest two levels of the mine.


On behalf of Mandorin Goldfields Inc.

Malcolm L Stevens, Executive Chairman and President

Errol Smart (PrSciNat), Director and Chief Executive Officer (and Qualified Person who has reviewed the information herein).

Statements in this press release other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, constitute forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in mineral exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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