Dorato Resources Inc.
TSX VENTURE : DRI
FRANKFURT : DO5

Dorato Resources Inc.

January 29, 2010 18:05 ET

Dorato Resources Inc. Closes Non-Brokered Private Placement of 4,761,000 Units for Gross Proceeds of $4,999,050

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES

Dorato Resources Inc. ("Dorato" or the "Company") (TSX VENTURE:DRI)(FRANKFURT:DO5) is pleased to announce that it has closed its previously announced non-brokered private placement financing through the issuance of 4,761,000 units (the "Units") at a price of $1.05 per Unit for total gross proceeds to the Company of $4,999,050 (the "Offering"). Each Unit is comprised of one common share of the Company and one-half of one common share purchase warrant, each whole warrant entitling the holder to purchase one common share of Dorato at a price of $1.65 per share until July 29, 2011.

Proceeds from the Offering will be used for exploration of the Cordillera del Condor Gold District in northern Peru and for general working capital and corporate purposes.

The securities issued pursuant to the Offering are subject to a hold period that will expire on May 30, 2010. The Offering has received conditional TSX Venture Exchange ("TSXV") acceptance but remains subject to final TSXV approval.

The securities described herein have not been registered under the U.S. Securities Act of 1933, as amended, or any State Securities Laws and may not be offered or sold in the United States or to U.S. persons unless an exemption from registration is available. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States.

Stock Options

Pursuant to its 2009 Incentive Stock Option Plan, Dorato has granted incentive stock options to certain directors, officers, employees and consultants allowing them to purchase up to an aggregate of 1,500,000 common shares in the capital stock of the Company. The options are exercisable at a price of CAD 1.09 for a period of two years ending January 29, 2012.

About Dorato Resources Inc.

Dorato Resources Inc. is mineral exploration company focused on the highly prospective Cordillera del Condor Gold District in northern Peru and adjacent to the border with Ecuador – one of the most important gold-bearing districts in the region since pre-Incan times. Modern exploration on the Ecuadorian side of the border has successfully delineated a number of world-class gold and copper deposits including Kinross Gold's Fruta del Norte gold deposit with inferred resources of 13.6 million ounces gold at 7.23 g/t gold. The Peruvian portion of the Cordillera, while sharing key geological features and stratigraphy, has remained almost entirely unexplored until now.

Dorato, through a series of option agreements, has the right to wholly acquire an extensive land package of approximately 800 square kilometres – providing the Company a highly strategic position in this emergent gold district. Dorato is well funded and possesses experienced management with a proven track record.

On behalf of the board of directors of DORATO RESOURCES INC.

Keith J. Henderson, President and CEO

Cautionary Note Regarding Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding intentions with respect to the Offering, are forward-looking statements. Forward-looking statements involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Dorato's expectations include the uncertainties involving the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; uncertainties involved in the interpretation of drilling results and geological tests and the estimation of reserves and resources; the need to obtain permits and governmental approvals; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases; fluctuations in metal prices and currency exchange rates, and other risks and uncertainties disclosed in Dorato's documents filed with applicable securities regulatory authorities from time to time. Dorato's forward looking statements reflect the beliefs, opinions and projections on the date the statements are made. Dorato assumes no obligation to update the forward looking statements of management beliefs, opinions, projections, or other factors should they change.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Dorato Resources Inc.
    Steve Stakiw
    Manager - Corporate Communications
    604-638-5817
    (604) 408-7499 (FAX)
    or
    Dorato Resources Inc.
    Michael Pound
    Manager - Investor Relations
    604-638-5817
    (604) 408-7499 (FAX)
    info@doratoresources.com
    www.doratoresources.com