Mindoro Resources Ltd.
TSX VENTURE : MIO
FRANKFURT : OLM

Mindoro Resources Ltd.

March 26, 2008 14:00 ET

Mindoro Management and Board Changes

EDMONTON, ALBERTA--(Marketwire - March 26, 2008) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:OLM) is pleased to announce the following additions to the management team of its Philippine operating subsidiary, MRL Gold Phils. Inc.

Alan Buenavista has been appointed to the position of Exploration Manager. Alan is a well known and accomplished geologist with 25 years of mineral exploration experience in the Philippines. He is a graduate of Adamson University with a BSc degree in Geology, and started his career as a geologist in the Mines and Geo-Science Bureau where he worked from 1982 to 1986, mainly assigned to UNDP sponsored training programs. Alan then worked with Western Mining Corporation (WMC) of Australia from 1987 to 1997, rising to the position of Senior Project Geologist. While with WMC, he played an important role in the discovery of the world class Tampakan copper-gold deposit in Southern Mindanao, and was involved with its drill evaluation. From 1998 to 2006, he was Exploration Manager for Indophil Resources Phils Inc. and was part of the team that further advanced Tampakan, taking it through the feasibility stage. Xstrata Copper subsequently acquired a 62.5 percent interest in Tampakan, which is the largest development project in their portfolio. Alan will be tasked with leading MRL's exploration team in evaluating and unlocking the value of Mindoro's target-rich portfolio of copper-gold projects, as well as guiding delineation of its nickel laterite resources.

Dr. F.S. Mon Monteros has been appointed to the position of Vice President, Social and Environmental Management. His appointment reflects Mindoro's strong and demonstrated commitment to conducting its exploration and development programs in a socially and environmentally responsible manner. Dr. Monteros formerly held a senior position with the Department of Environment and Natural Resources (DENR) in the Philippines, where he was involved with information, communication, education and community development programs in partnership with mining companies. Dr. Monteros has held university teaching positions, and is an accredited consultant of the Partnership Brokers' Accreditation Scheme (PBAS) under the aegis of the Overseas Development Institute (ODI) and the International Business Leaders' Forum (IBLF). He completed his PBAS residential at Deakin University of Victoria, Australia. He was also a fellow of the Partnering Event at Cambridge University, UK. In 2004 and 2005, he was part of a DENR-World Bank project developing multi-sectoral partnerships in mining communities. He has written various papers and books on the subject of community monitoring and involvement in mining projects, and has played a leading role in this field in the Philippines.

Mindoro also advises that Marshall L. Farris has resigned as Director of Mindoro. Mr. Farris played an integral role in assisting the company with its financing and marketing activities over the past four years. The Board of Directors sincerely thanks Mr. Farris for his valuable contributions to Mindoro and extends their best wishes for his success in his future endeavors.

ABOUT MINDORO

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). In addition to advancing the Agata nickel laterite project towards production, Mindoro has announced an initial 43-101 compliant gold-silver mineral resource estimate on its Kay Tanda gold-silver project, and is proceeding to advance this project. The Company has also identified 22 porphyry copper-gold prospects in the Philippines and has an aggressive strategy of drilling multiple targets in 2008.

This release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. 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 of estimates and projections relating to production). 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 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
    or
    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
    or
    Argentuminvest GmbH
    Richard Mayr
    Investor Relations-Europe
    +49.9421.785250
    +49.9421.785255 (FAX)
    Email: info@argentuminvest.com