Magnum d'Or Resources, Inc.
OTC Bulletin Board : MAGR

July 13, 2005 13:04 ET

Magnum signs Joint Venture Agreement With Placer Dome on the Khul Morit Property in Mongolia

TORONTO--(CCNMatthews - Jul 13, 2005) -

Mr. John K. Yee, Chairman of Magnum d'Or Resources, Inc. ("the Company")(OTCBB:MAGR) is pleased to announce that a Joint Venture Agreement has been signed with Placer Dome International Limited (NYSE:PDG)(TSX:PDG). The Agreement specifies a two and a half year period whereby Placer Dome will have the option to earn a 60% interest in the Khul Morit property by expending $1,000,000 USD. Placer Dome may earn an additional 20% interest with the completion of a feasibility study on the Khul Morit property. Given that a positive development decision is made, Placer Dome will be responsible to expend 80% of the production costs, and Magnum will be responsible for the remaining 20% of the costs. If either party does not fulfill its' obligation, the alternate party will take ownership for 100% of the property.

Mr. Yee commented, "The Company is highly encouraged by the recognition from Placer Dome on the potential merit and economics that the Khul Morit property represents." He further stated, "We are optimistic about the immediate potential for further favourable results as the work period progresses. Placer Dome is recognized internationally as one of the largest mining companies in the world, and hence with the Khul Morit moving forward, the Company can focus its' attention on the acquisition of additional properties in Mongolia and Asia."

Assay tests from the 2004 drill program on the Khul Morit are currently being processed, and the Company expects the results shortly.

A number of statements contained in this press release are forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve a number of risks and uncertainties including but not limited to: competitive market conditions, successful integration of acquisitions, and the ability to secure additional sources of financing. The actual results that Magnum may achieve could differ materially from any forward-looking statements due to such risks and uncertainties.

Contact Information