Medoro Resources Ltd.
TSX : MRS

Medoro Resources Ltd.

November 30, 2010 07:30 ET

Medoro Resources Announces Appointment of Chief Operating Officer

TORONTO, ONTARIO--(Marketwire - Nov. 30, 2010) - Medoro Resources Ltd. (TSX:MRS) announced today that Donald East has been appointed as the Chief Operating Officer of the Company, effective January 17, 2011. As Medoro's Chief Operating Officer, Mr. East's primary focus will be on managing the completion of the pre-feasibility and feasibility engineering studies for the Company's Marmato Project in Colombia and on bringing the mine at the Marmato Project into production.

Mr. East started his career as a Partner in the South African and USA offices of Knight Piesold and has over 35 years of experience in managing major project studies, mining business management, civil and geotechnical engineering design, project management and construction supervision, encompassing industrial and mining facilities, and infrastructure in the United States, Southern and West Africa, Australia, Indonesia, Turkey, Russia, former Soviet States and throughout South America. His design experience includes civil and geotechnical engineering aspects of roads, hydro and thermal power plants, dams, ports, tailing storage facilities, heap leach facilities, process water ponds, slurry and liquid pipelines, earthworks and general mine infrastructure. In Peru, Mr. East has held positions as the Project Director for the studies phase of Gold Field's Cerro Corona copper-gold project, and as Chief Advisor-Project Studies for Rio Tinto's La Granja sulphide leach copper project in northern Peru. More recently, he has served as Development Manager for Anglo American's Michiquillay copper project, and as Senior Project Manager of Hatch Associates. He has also served on international technical review panels for tailing, mine waste and heap leach facilities.

"We are delighted that Mr. East will be joining Medoro. Mr. East brings to Medoro considerable knowledge and years of experience in mining project management and is the perfect manager to take Marmato through development," said Serafino Iacono, the Interim President and Chief Executive Officer of Medoro.

Medoro Resources is presently focused on developing the Marmato deposit and has retained SRK Consulting to look at mining options and a related mineable resource estimate. The Company will continue to update the market on developments at Marmato.

About Medoro Resources Ltd.

Medoro Resources Ltd. is a gold exploration, development and mining company with a primary emphasis on Colombia. The company operates the producing Mineros Nacionales gold mine located in Zona Baja at Marmato and is conducting an exploration and in-fill drilling program at its Marmato Project to upgrade and expand its gold resources there. Medoro also has a 5% interest in the Frontino Gold Mines with an option to increase its interest to 50%.

Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela where it is continuing its efforts to obtain an exploitation permit to allow development of these gold properties when circumstances in Venezuela allow. Medoro owns interests in gold exploration properties in Mali in respect of which it is seeking possible joint venture partners to further explore these properties.

Additional information on Medoro Resources Ltd. can be found on the Company's website at www.medororesources.com and by reviewing the company's profile on SEDAR at www.sedar.com.

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Medoro and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medoro to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Medoro disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

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