Mindoro Resources Ltd.
TSX VENTURE : MIO
FRANKFURT : OLM

Mindoro Resources Ltd.

June 13, 2007 09:00 ET

Mindoro Resources Ltd.: Mapping and Rock Sampling Increase Mineralization Area at Kay Tanda Another 600 Meters

EDMONTON, ALBERTA--(Marketwire - June 13, 2007) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT: WKN 906167) today reported that additional geological mapping, trench and outcrop sampling at the Kay Tanda Prospect, Batangas Province in the Philippines, have significantly increased the area of epithermal gold-silver mineralization at least a further 600 meters grid north and 300 meters grid west. New trenching and outcropping sampling results include 209 meters of 0.43 grams per tonne (g/t) gold; 60 meters of 0.69 g/t gold and 5.40 g/t silver; and 50 meters of 0.35 g/t gold and 29.84 g/t silver. These are in addition to previously reported trench results which included 51 meters of 1.25 g/t gold. A further three diamond core holes also returned encouraging results, including 48 meters of 1.21 g/t gold in KTDH-15 and 25 meters of 0.77 g/t gold in KTDH-16.

To date over 140 reverse circulation holes and 18 core holes have been completed and have defined gold-silver mineralization extending over an area of about one kilometer by one kilometer in extent. An Exploration Target was released for this drilled area on June 11, 2007 (see below "About Kay Tanda") and a NI 43-101 compliant resource estimate is in progress. The distribution of this mineralization is shown on the accompanying compilation map in grams per tonne gold times intercept in meters.



RESULTS OF ROCK SAMPLING
Surface rock results are shown in the accompanying table and compilation
map.

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Location Length Au Ag Cu Zn
I.D. Location Sample Type (m) g/t g/t % %
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SLT-1(i) South Lumbangan Channel sampling
Trench#1 (trench) 11 - 2.89 1.50 1.64
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SLT-2(i) South Lumbangan Channel sampling
Trench#2 (trench) 51 1.24 25.50 - -
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SLS-1(i) South Lumbangan Channel sampling
Shaft (outcrop) 5 1.71 56.00 - -
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NLO-1(i) North Lumbangan Continuous rock chip
sampling (outcrop) 14 0.65 153.2 - -
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NLT-1 North Lumbangan Channel sampling
Trench#1 (trench) 50 0.35 29.84 - -
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KTO-1 Northwest Kay Channel sampling
Tanda (outcrop) 5 0.45 7.40 - -
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COA-1 Comonales Old Continuous rock chip
Adit sampling 7.3 0.50 0.70 - -
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COA-2 Comonales Old Continuous rock chip
Adit sampling 4.2 0.69 1.07 - -
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KTT-1 Kay Tanda Channel sampling
Trench#1 (trench) 209 0.43 2.16 - -
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KTO-2 Southeast Kay Continuous rock chip
Tanda sampling (outcrop) 60 0.69 5.40 - -
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KTO-3 Southeast Kay Continuous rock chip
Tanda sampling (outcrop) 15 0.73 4.97 - -
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(i) - Previously reported from Feb 4, 2004 to Aug 24, 2004


SUMMARY OF LATEST RESULTS
The table below summarizes results of the latest drilling (based on a
cut-off grade of 0.3 g/t gold).

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KTDH 14
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10050N : 9600E Direction: 140 degrees Incl: -70 degrees
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FROM TO SAMPLE LENGTH (m) Au g/t Ag g/t
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147.5 153.5 6 0.40 1.39
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KTDH 15
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9894N : 9524E Direction: 320 degrees Incl: -70 degrees
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170.0 218.0 48 1.21 1.10
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Including 174.0 180.0 6 3.86 2.14
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& Including 197.0 201.0 4 4.53 1.33
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239.0 241.0 2 0.87 0.55
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291.0 292.0 1 3.38 1.00
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299.0 301.0 2 2.06 1.10
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308.0 309.0 1 0.52 1.10
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KTDH 16
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9695N : 9655E Direction: 320 degrees Incl: -70 degrees
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30.4 34.4 4 0.59 10.99
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76.0 101.0 25 0.77 0.75
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Including 76.0 81.0 5 2.18 1.50
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114.0 118.0 4 2.06 0.50
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Including 115.0 116.0 1 6.30 0.50
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138.0 145.0 7 1.73 0.50
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Including 138.0 139.0 1 9.52 0.50
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187.0 188.0 1 0.37 0.50
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197.0 198.0 1 1.09 0.65
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ABOUT KAY TANDA

Epithermal gold-silver mineralization at Kay Tanda is associated with extensive and intense quartz stockworks, veins and hydrothermal breccias, with accompanying base metal sulphides. Kay Tanda is reflected by an induced polarization chargeability anomaly that is about 1.5 kilometers by 1.4 kilometers in extent, which is part of a much larger chargeability anomaly which extends over six kilometers along strike to the northeast. To date, drilling has been conducted only at Kay Tanda, which is interpreted as intermediate to low sulphidation epithermal quartz-carbonate-gold-silver-base-metal mineralization telescoped into the top of an underlying porphyry copper-gold system.

Mindoro has completed over 140 reverse circulation (RC) and ten core drill holes at Kay Tanda. Almost all holes have encountered near-surface, generally flat-lying to gently-dipping blanket-like low-grade stockwork mineralization. This is strongly to partially oxidized to depths of 40 to 160 meters and non-oxide below this. Drilling, especially at deeper levels, has encountered at least five steeply-dipping, much higher-grade zones with bonanza grades to 100 g/t gold and over 1,000 g/t silver, which are interpreted as structurally controlled upflow, or "feeder" zones. Further drilling and structural studies are in progress to determine the nature and controls of the high-grade zones. The high-grade mineralization appears to occur preferentially at elevations below 150 meters (ASL) within a boiling zone. Few holes have penetrated to this depth to date. Such upflow zones can be associated with bonanza mineralization and constitute some of the world's best epithermal gold-silver deposits.

At a cut-off 0.3 grams per tonne (g/t) gold, the immediate Exploration Target is from 35 to 40 million tonnes of open-pitable material at a grade of 0.76 to 0.80 g/t gold and 2.4 to 2.8 g/t silver, containing between 860,000 and 1,000,000 ounces of gold and 2.7 million to 3.6 million ounces of silver. This Exploration Target may be revised upwards at a later date as extension drilling continues with two diamond drill rigs at Kay Tanda. At a cutoff at 0.5 g/t gold, the immediate Exploration Target is from 15 to 20 million tonnes of open-pitable material at a grade of 1.1 to 1.4 g/t gold and 3.0 to 3.4 g/t silver, containing from 530,000 to 900,000 ounces of gold and from 1.45 to 2.2 million ounces of silver.

Programs are carried out under the supervision of Tony Climie, P.Geol., who is a qualified person as defined by National Instrument 43-101. Sample preparation and assaying is performed by McPhar Laboratory of Manila, an ISO 9001/2000 accredited laboratory. Gold assays were by 50 gm fire assay fusion; where gold assays greater than 3 ppm were by gravimetric finish, and by AAS where the gold values were less than that threshold. Silver was determined by AAS after an HCl-HNO3-HClO4 digest. Normal Quality Control and Quality Assurance procedures are being carried out, using a system of duplicate, standard and blank samples.

The reader is cautioned that the potential quantity and grade of the Exploration Target described is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource. Until a feasibility study has been completed there is no certainty that the Company's projections will be economically viable.

ABOUT MINDORO

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: resource delineation and expansion drilling on the Kay Tanda epithermal gold-silver prospect where a NI 43-101 compliant resource estimate is in progress; reconnaissance drilling on the Calo porphyry copper-gold prospect; and advancing a significant nickel laterite prospect towards early production; in addition to holding another 22 identified porphyry copper-gold prospects in the Philippines.

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