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

Mindoro Resources Ltd.

March 30, 2011 14:46 ET

Mindoro's CEO Discusses Agata and Pan De Azucar on Boardroom Radio

EDMONTON, ALBERTA--(Marketwire - March 30, 2011) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT:WKN 906167) is providing two opportunities to listen to Jon Dugdale, President, CEO & Director, discuss the favourable economic assessment for Mindoro's Agata nickel project, and the recent high-grade gold and copper drill results received from the Pan de Azucar project.

An audio interview on Boardroom Radio and the Company's audio slide show are both available on Mindoro's website, or can be accessed by pasting the following details into your web browser:

-- For Boardroom Radio interview: brr.com.au/event/78476  

-- For Mindoro's audio slide show: gowebcasting.com/2363 

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 is focused on nickel, copper and gold exploration in the Philippines with a strategy of advancing early-stage opportunities to production or joint venture.

Mindoro has NI 43-101 Mineral Resource estimates on its Agata nickel-cobalt project and NI 43-101 Mineral Resource estimates on its Lobo and Archangel (Kay Tanda) gold-silver projects, as well as an additional 22 porphyry copper-gold prospects. Senior gold producer, Gold Fields, may earn 75 percent interest in three of Mindoro's projects at Batangas through direct project expenditure.

Mindoro is assessing the potential to develop a value-added shipping ore nickel operation to generate early cash flow as well as large scale potential for an onsite processing plant in the Surigao District, Mindanao, where the company controls major nickel laterite resources and is drill testing regional targets. An integrated preliminary economic assessment on the Agata nickel laterite project is contained in this release. This will be followed by the commencement of a prefeasibility study into an integrated on site nickel processing project.

Three drill programs are currently in-progress on the Company's projects including regional nickel drilling at Surigao; copper-gold drilling at Pan de Azucar and gold and copper-gold drilling by Gold Fields at Lobo (Batangas).

The Company's early stage and large scale processing production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that sufficient resources will be established and if established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. 

Tony Climie, P.Geol, is Mindoro's Qualified Person as defined by National Instrument 43-101 and is a competent person as defined by the JORC Code, who is responsible for monitoring the supervision and quality control of Mindoro's exploration programs and who has reviewed and verified the technical information contained in this news release. Mr. Climie is an executive and a director of Mindoro and is a member of the of the Alberta Professional Engineers, Geologists and Geophysicists Association. Mr. Climie has more than five years of experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he has undertaken. Mr. Climie has consented to the release of the technical information in the form and context in which it appears. 

The Company's resource estimates were originally prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum classification system. NI 43-101 is a rule developed by the Canadian Securities Administrators that governs how Canadian issuers disclose scientific and technical information about mineral projects and which is broadly equivalent to the JORC Code in Australia. All resource information is also expressed in terms of the JORC Code.

Note that the potential quantity and grade of material included in the mineral inventory is conceptual in nature and based solely on the Mineral Resources and includes Inferred Mineral Resources. There has been insufficient work to define a Mineral Reserve and it is uncertain if further work will result in the determination of a Mineral Reserve.

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

  • Mindoro Resources Ltd. - Australia
    Jon Dugdale
    President and CEO
    +61 3 9614 5055
    jon@mindoro.com
    or
    Mindoro Resources Ltd. - Australia
    Nathan Ryan
    NWR Communications
    +0420 582 887
    nathan@mindoro.com
    or
    Mindoro Resources Ltd. - Canada
    Penny Gould
    VP Investor Relations
    +780.413.8187 or Toll free 1.877.413.8187
    penny@mindoro.com
    or
    Mindoro Resources Ltd. - Germany
    Robert Sarcher
    Aprendo Capital
    +49.821.6089051
    robert@mindoro.com
    www.mindoro.com