Mindoro Resources Ltd.

Mindoro Resources Ltd.

November 03, 2005 13:30 ET

Mindoro Issues Incentive Stock Options

EDMONTON, ALBERTA--(CCNMatthews - Nov. 3, 2005) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FWB:OLM) today announced that options have been granted to directors, officers, advisory board members and employees of the Company and the Company's Philippine subsidiary, MRL Gold Phils., Inc., to purchase 1,225,000 common shares at an exercise price of $0.96 per share for a five year term. Options have also been granted to Ascenta Capital Partners Inc. to purchase 100,000 common shares at an exercise price of $0.96 per share for a two year term and vesting in accordance with TSX Venture Exchange guidelines. All grants are subject to regulatory approval.


Mindoro is a Tier 1 Company trading on the TSX Venture Exchange (TSX VENTURE:MIO) and the Frankfurt Stock Exchange (OLM). The company is exploring for gold and gold-copper in the prolifically mineralized magmatic arcs of the Asia-Pacific Region. Mindoro has been active in the Philippines since 1996 and is presently focused on six promising projects in politically stable jurisdictions of the country.

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

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