Maudore Minerals Ltd.

Maudore Minerals Ltd.

June 22, 2012 09:19 ET

Maudore Responds to Dissidents' Unjustified Attack

MONTREAL, QUEBEC--(Marketwire - June 22, 2012) - Maudore Minerals Ltd. (TSX VENTURE:MAO)(OTCBB:MAOMF)(FRANKFURT:M6L) responded today to a string of unjustified and factually misleading allegations by a group of dissident shareholders.

"While the members of this group call themselves 'concerned shareholders', their allegations display more ignorance than concern," Ronald Shorr, Maudore's chief executive officer, said. "Maudore shareholders can be assured that the board and management will not allow this irresponsible intervention to distract us from our singular goal of enhancing the value of their investment."

Mr. Shorr noted that, among other initiatives, the board has recently appointed a non-executive chairman, Robert Pevenstein, and set up a technical advisory board to supplement the board of directors' scientific expertise. "On June 6 we announced a new gold discovery located 12 km from our current resource," said Mr. Shorr. "Our large property may have other similar occurrences and we are dedicated to unlocking the full value of our land package. A technical advisory board will enhance our ability to do so."

The company will soon publish a management information circular ahead of the annual meeting on July 19, 2012. "Following publication of the circular, we will respond in more detail to the dissidents' misguided and incorrect interpretation of the facts and of Canadian securities laws," Mr. Shorr said.

"Equally important, we look forward to sharing more details of our impressive accomplishments in the coming weeks, and we invite all shareholders to attend our annual meeting on July 19."

About Maudore Minerals Ltd.

Maudore owns 100% of the Comtois gold project in Quebec, as well as a large land area west of Comtois with volcanogenic gold/massive sulphide (VMS) potential. VMS gold deposits are more common in Quebec than anywhere else in the world. Maudore's total land package, is now 94,000 hectares (235,000 acres or 367 sq. mi).

On Behalf of the Board of Directors:

Ronald Shorr, Chief Executive Officer

The TSX Venture Exchange has not reviewed this release. Neither the 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.

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