Mindoro Resources Ltd.

Mindoro Resources Ltd.

August 29, 2007 12:04 ET

Mindoro Announces Private Placement

EDMONTON, ALBERTA--(Marketwire - Aug. 29, 2007) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) today announced that it intends to raise up to CDN$3,900,000 through the sale of 6,500,000 units to qualified investors at a price of $0.60 per unit. Each unit will consist of one Common Share and one Common Share Purchase Warrant. Each Purchase Warrant entitles the holder to acquire one additional Common Share at a price of $0.90 per share for a period of one year after the close of the offering, and thereafter at $1.10 per share for one additional year. The Company may pay finder's fees as allowed by the policies of the TSXV.

Net proceeds of the offering will be used for advancing the Company's projects in the Philippines. The terms of the private placement are subject to regulatory approval. A news release will be made when the placement closes and shares are issued.


Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). The Company is carrying out three major drill programs: advancing a significant nickel laterite prospect towards production, resource delineation drilling on the Kay Tanda epithermal gold-silver prospect, and reconnaissance drilling on the Calo porphyry copper-gold prospect, in addition to holding another 22 identified porphyry copper-gold prospects in the Philippines.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Mindoro Resources Ltd.
    Penny Gould
    Executive Vice President
    (780) 413-8187
    Email: penny@mindoro.com
    Website: www.mindoro.com
    Ascenta Capital Partners Inc.
    Trent Dahl
    Investor Relations-Canada
    (604) 628-5800 or Toll Free: 1-866-684-4209 ext. 228
    Email: info@mindoro.com
    Argentuminvest GmbH
    Richard Mayr
    Investor Relations-Europe
    +49.9421.785255 (FAX)
    Email: info@argentuminvest.com