Mindoro Resources Ltd.
TSX VENTURE : MIO
FRANKFURT : OLM

Mindoro Resources Ltd.

January 21, 2008 09:00 ET

Mindoro Subsidiary Appoints Oscar Reyes Chairman

EDMONTON, ALBERTA--(Marketwire - Jan. 21, 2008) - Mindoro Resources Ltd. ("Mindoro") (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) today announced that its Philippine subsidiary, MRL Gold Phils. Inc. ("MRL"), has appointed Mr. Oscar S. Reyes, BA, as Chairman. This appointment follows the resignation of Mr. J.A. Climie as Chairman; Mr. Climie will continue to serve as MRL's Chief Executive Officer and President.

Following the appointment, Mr. Climie commented, "In the five years that Mr. Reyes has served as a director on the boards of Mindoro and MRL, his extraordinary experience and business acumen have played a significant role in our growth and success in the Philippines. We are extremely pleased he has agreed to serve as Chairman of MRL Gold Phils. Inc. and look forward to his continued leadership and support."

ABOUT OSCAR S. REYES

Mr. Reyes is a distinguished and highly respected businessman with 42 years of business management experience in the Philippines and the United Kingdom. Mr. Reyes has held a number of executive positions with the Shell group, including Chairman and Chief Executive of the Shell Companies in the Philippines. He was President of Pilipinas Shell Petroleum Corporation, Managing Director of Shell Exploration B.V. which brought the large offshore Malampaya gas project into production in 2001, Area Finance Adviser for South America, and Regional Planning Adviser for the Western Hemisphere and Africa Region of Shell International Petroleum Corporation.

Mr. Reyes presently holds directorships in a number of major Philippine companies, including Sun Life of Canada Philippines, Inc., Philippine Long Distance Telephone Co., Bank of the Philippine Islands, Manila Water Co., and Pepsi Cola Product Phils. Inc. He is a past United Nations National Ambassador for HIV-AIDS in the Philippines and a current member of a number of professional organizations, including the Management Association of the Philippines, the Financial Executives Institute of the Philippines, the Canadian Chamber of Commerce of the Philippines and the World Energy Council (Philippines) Inc.

Mr. Reyes has a Bachelor of Arts (Economics) degree from the Ateneo de Manila University, Philippines. He completed Master of Business Administration studies at the Ateneo Graduate School of Business Administration in the Philippines and the Harvard Business School Program for Management Development.

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 is carrying out a major resource delineation program on its Kay Tanda gold-silver project. The company has also identified 22 porphyry copper-gold prospects in the Philippines and has an aggressive strategy of joint venturing and drilling multiple targets in 2008.

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