Mindoro Resources Ltd.
TSX VENTURE : MIO
FRANKFURT : WKN 906167

Mindoro Resources Ltd.

September 30, 2014 16:12 ET

Mindoro Announces Director and Corporate Secretary Appointments

EDMONTON, ALBERTA--(Marketwired - Sept. 30, 2014) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) today announced the appointment of Mr. Federico Zarate to Mindoro's board of directors and the appointment of Clayton Northey as Corporate Secretary.

Mr. Zarate, a Certified Public Accountant, obtained his Bachelor of Science in Commerce from the University of Santo Tomas, Philippines. His distinguished career in the Philippines has encompassed extensive senior financial experience with large and multinational firms, including Jardine Davies, Inc., Dynacraft International, Inc., and, most recently, Philippine Electric Corporation, where he served as Vice President and Treasurer.

Mindoro's CEO, Penny Gould, stated, "I am very pleased to welcome Mr. Zarate to Mindoro's board of directors. His appointment is timely, as Mindoro is poised to transition into a revenue generating company with the near-term commencement of the Agata Project nickel laterite direct shipping ore operation. Mr. Zarate's impressive financial acumen and extensive network of contacts within the Philippine business community will further strengthen the operational expertise of our board."

Clayton Northey has been appointed Corporate Secretary in addition to continuing in his position as Mindoro's Chief Financial Officer.

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 (MIO) and Frankfurt Stock Exchange (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
    ir@mindoro.com
    or telephone one of the following:
    Canada: Penny Gould or Clayton Northey:
    +1 780 413 8187
    www.mindoro.com

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