Mindoro Resources Ltd.

Mindoro Resources Ltd.

September 30, 2014 11:16 ET

Mindoro Adopts Advance Notice Bylaw

EDMONTON, ALBERTA--(Marketwired - Sept. 30, 2014) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) today announced the adoption of an Advance Notice Bylaw providing for advance notice requirements for the nominations of directors.

The purpose of the Advance Notice Bylaw is to provide shareholders, the Board and management of the Company with a clear framework for director nominations to help ensure orderly business at shareholder meetings. Among other things, the Advance Notice Bylaw fixes a deadline by which a nominating shareholder must submit director nominations to the Company prior to any annual or special meeting of shareholders. It also specifies the information that a nominating shareholder must include in the notice to the Company in order for any director nominee to be eligible for election at any annual or special meeting of shareholders.

In the case of an annual meeting of shareholders, notice to the Corporate Secretary of the Company must be made not less than 30 days and not more than 65 days prior to the date of the annual meeting; provided, however, that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the 10th day following such public announcement.

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Company must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.

The Advance Notice Bylaw is effective as of the date it was approved by the Board on September 26, 2014 and will be submitted for shareholder approval by ordinary resolution at the Company's upcoming Annual and Special Meeting on November 28, 2014. If the Bylaw is not ratified by the shareholders, the Bylaw shall terminate at the close of the Meeting and be of no further force and effect.

The full text of the Bylaw is available with this release on Mindoro's website at www.mindoro.com and on SEDAR at www.sedar.com.

On behalf of the Board of Directors,

Penny Gould, CEO and Director

About Mindoro

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (TSX VENTURE:MIO) and Frankfurt Stock Exchange (FRANKFURT:WKN 906167). Mindoro has a 75% interest in the Agata Mining Joint Venture and 75% interest in the Agata Processing Joint Venture with options to acquire an additional 25% interest in both the Agata Mining and Processing Joint Ventures. Mindoro also holds 75% interest in the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo. TVI Resource Development (Phils.), Inc. ("TVIRD") has the option to earn up to a 60% interest in Agata and Pan de Azucar projects by meeting the earn-in requirements outlined in the June 24, 2013, press release, which include funding the DSO operation into production and producing a definitive feasibility study for a nickel processing facility. Mindoro also holds 75% interest and an option to acquire an additional 25% in the Tapian San Francisco Copper-Gold Project, Mindanao.

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.

This release contains forward-looking statements including management's assessments of future plans and operations, and expectations of future production, including the statements with respect to when Mindoro expects production and the direct shipping of high-iron laterite resources at the Agata project to commence. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty with respect to results of exploration, the uncertainty of estimates and projections relating to production and the uncertainty of the availability of capital). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not undertake to update forward-looking statements except where required to do so by law.

Contact Information

  • For investor relations inquiries, please email
    or telephone one of the following:
    Canada: Penny Gould or Clayton Northey:
    +1 780 413 8187

    CHF Investor Relations
    Jeanny So
    +1 416 868 1079 ext. 225