Mindoro Resources Ltd.
TSX VENTURE : MIO
FRANKFURT : OLM

Mindoro Resources Ltd.

June 07, 2007 12:26 ET

Mindoro Issues Incentive Stock Options

EDMONTON, ALBERTA--(Marketwire - June 7, 2007) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:OLM) today announced that incentive stock options have been granted to directors, officers, advisory board members and employees of the Company and the Company's Philippine subsidiary, MRL Gold Phils., Inc., to purchase 2,245,752 common shares at an exercise price of $0.84 per share for a five year term. Options will vest over two years with one quarter of the options vesting in each six month period following the date of issue. The grant of incentive stock options provides long term incentive to the Company's personnel and further ensures that the interests of the Company's personnel are aligned with the interests of the Company's shareholders.

Options have also been granted to Ascenta Capital Partners Inc. to purchase 42,000 common shares at an exercise price of $0.84 per share for a two year term and vesting in accordance with TSX Venture Exchange guidelines. All grants are subject to regulatory approval.

ABOUT MINDORO

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). The Company is carrying out three major drill programs: resource delineation drilling on the Kay Tanda epithermal gold-silver prospect, reconnaissance drilling on the Calo porphyry copper-gold prospect, and advancing a significant nickel laterite prospect towards production; in addition to holding another 22 identified porphyry copper-gold prospects in the Philippines.

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

Contact Information

  • Mindoro Resources Ltd.
    Penny Gould
    Executive Vice President
    (780) 413-8187
    Email: Penny@Mindoro.Com
    Website: www.Mindoro.Com
    or
    Ascenta Capital Partners Inc.
    Trent Dahl
    Investor Relations-Canada
    (604) 628-5800 or Toll Free: 1-866-684-4209 ext. 228
    Email: info@mindoro.com
    or
    Argentuminvest GmbH
    Richard Mayr
    Investor Relations-Europe
    +49.9421.785250
    +49.9421.785255 (FAX)
    Email: info@argentuminvest.com