The Concerned Shareholders of Maudore Minerals Ltd.

July 05, 2012 11:30 ET

Anglo Pacific Group plc, Second Largest Shareholder of Maudore, Announces Support for Concerned Shareholders

TORONTO, ONTARIO--(Marketwire - July 5, 2012) - Anglo Pacific Group plc ("Anglo Pacific"), the second largest shareholder of Maudore Minerals Ltd. ("Maudore" or the "Company"), plans to vote in favor of the slate of directors put forth by the concerned shareholders of Maudore. Anglo Pacific owns 2,352,200 shares of Maudore ("Maudore Shares"), representing approximately 8.8% of the issued and outstanding Maudore Shares.

The concerned shareholders, consisting of Rex Harbour, The Harbour Foundation and City Securities Limited, holders of approximately 18.4% of Maudore Shares (the "Concerned Shareholders"), are asking Maudore shareholders to vote for change by electing a new board at the upcoming annual and special meeting of shareholders to be held on July 19, 2012 (the "Meeting").

John Theobald, Executive Director and Chief Executive Officer of Anglo Pacific, said, "Anglo Pacific has been a significant shareholder of Maudore for several years. After reviewing the proxy materials for both management and the Concerned Shareholders, Anglo Pacific is voting for the Concerned Shareholders."

"We are delighted to have Anglo Pacific join our cause to invigorate Maudore," said Rex Harbour. "Our board nominees are serious and have developed a comprehensive 100 Day Action Plan to be approved and implemented following the Meeting. We hope that other shareholders, like us, see the opportunity that we have to match this excellent group of individuals with the excellent asset base in Maudore. It is only with the support of shareholders we can start to unlock the true value of Maudore."

Anglo Pacific is a global natural resources royalties company. The company's strategy is to expand its mineral royalty interests in long-life mining assets. The company achieves this through both direct acquisition and investment in projects at the development and production stage. Anglo Pacific is listed on both the Toronto Stock Exchange and the London Stock Exchange.

VOTING INSTRUCTIONS

Regardless of how many shares you own, all Maudore shareholders are urged to read the information circular prepared by the Concerned Shareholders, and to seize this opportunity and vote the YELLOW proxy to ensure change.

Shareholders who have voted the management proxy and wish to support the Concerned Shareholders have the right to change their vote by simply executing a yellow proxy. As a later-dated yellow proxy replaces a previous recorded vote.

Time is of the essence, YELLOW proxies must be returned no later than July 16, 2012 at 5:00 p.m. (Toronto Time).

To keep current with all further developments and for assistance and ease with voting your YELLOW proxy, please contact Phoenix Advisory Partners at 1-800-239-6813 (toll free in North America) or 1-201-806-2222 (outside North America, banks, brokers and collect calls) or by email at inquiries@phoenixadvisorypartners.com. We encourage all holders to visit the Concerned Shareholder website at www.newmaudore.com where the YELLOW proxy can be easily voted by clicking on the "Vote Here Now" button.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements. All statements that are not clearly historical in nature or that necessarily depend on future events are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. These statements are based on current expectations of the Concerned Shareholders and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not prove to be accurate. The Concerned Shareholders do not assume any obligation to update any forward-looking statements contained in this press release, except as required by applicable law. Please refer to the Concerned Shareholders' circular for further information regarding the risks of these statements.

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