Mindoro Resources Ltd.

Mindoro Resources Ltd.

August 22, 2006 14:51 ET

Mindoro Resources Ltd.: Clarification Related to Comparison of Drilling Results from Kay Tanda-Pulang Lupa Gold Zones

EDMONTON, ALBERTA--(CCNMatthews - Aug. 22, 2006) - In August 1, 8 and 16, 2006 releases, Mindoro Resources Ltd. (TSX VENTURE:MIO)(FWB:OLM) reported results from drill holes from the adjacent Kay Tanda and Pulang Lupa epithermal gold-silver zones, located in the Archangel Project, the Philippines. In these releases, there was reference to other open-pit, heap leach mines elsewhere in the world, including two mines of Glamis Gold Inc. and that the Kay Tanda range of gold grades, reported by Mindoro from 50 drill holes, were similar to the grades at the Glamis mines. This release has been issued to clarify that the project is still in the exploration stage; therefore, Mindoro has not established mineral resources of a size, grade, and metallurgy that would allow for a meaningful comparison to existing low grade, heap-leach mining operations.

The above-mentioned releases also referred to two phases of metallurgical testing on Kay Tanda. Further particulars with respect to this testing were contained in a release of Mindoro dated December 2, 2005.


Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (OLM). The company has identified 22 porphyry copper-gold prospects and a nickel laterite prospect in the Philippines and has an aggressive strategy of drilling multiple targets in 2006.

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.

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