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

Mindoro Resources Ltd.

November 15, 2013 07:30 ET

Mindoro Resources Ltd.: Impact of Typhoon Haiyan

CALGARY, ALBERTA--(Marketwired - Nov. 15, 2013) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT:WKN 906167) today provided the following statement. Like the rest of the world, Mindoro is shocked at the devastation and human cost and suffering caused by Typhoon Haiyan, known as "Typhoon Yolanda" in the Philippines, and expresses its deep sympathy to all affected.

Typhoon Haiyan passed directly over Pan de Azucar Island, northeast Panay Island, where the Company is in joint venture with TVI Pacific Inc. Company staff were unscathed, with some damage to camp facilities. However, damage to the island was extensive with houses and food stocks destroyed and fishing boats, a mainstay of the local economy, washed away.

Mindoro immediately provided emergency funds and organised food supplies to the island. The Company will be participating with TVI Pacific and working with Local Government Units in relief efforts to assist the community to recover from the devastation.

The central track of the typhoon passed approximately 200 kilometers to the north of the Mindoro / TVI Pacific Agata Project, located in the province of Agusan del Norte, Mindanao. Minor damage was sustained at Agata, mainly to roads.

On behalf of the Board of Directors,

Tony Climie, CEO

About Mindoro

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has a 75% interest and an option to acquire the remaining 25% in the Agata Nickel Project, Mindanao, and the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo. TVI Pacific Inc. has the option to earn up to a 60% interest in these projects by meeting the earn-in requirements outlined in the June 24, 2013, release. Mindoro also holds a 20.8% stake in ASX listed Red Mountain Mining (ASX: RMX), which has a 100% direct and indirect interest in the Batangas gold and copper-gold projects.

Tony Climie P.Geol., is the CEO of Mindoro Resources Ltd and has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he is undertaking to qualify as a qualified person as defined by National Instrument 43-101. Tony Climie consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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 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.

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.

Contact Information

  • For investor relations inquiries, please email
    ir@mindoro.com, or telephone one of the following:
    Australia:
    Clayton Northey:
    +61 3 9028 8187

    Canada:
    Penny Gould:
    +780.719.8895

    Jeanny So, CHF Investor Relations:
    +1 416 868 1079 ext. 225
    www.mindoro.com