SOURCE: Minerco Resources, Inc.

November 15, 2010 16:30 ET

Minerco Resources, Inc.: Negotiating Agreement to Acquire Additional Hydroelectric Asset in Honduras

HOUSTON, TX--(Marketwire - November 15, 2010) - Minerco Resources, Inc. (OTCBB: MINE), a progressive developer, producer and provider of clean, renewable energy solutions in Latin America, announced today the company has entered into negotiations for the acquisition of a 9 mega-watt, Hydro-Electric Project known as "Rio Toco" located in the Municipality of Intibuca, in the Department of Intibuca in Honduras, C.A. from ROTA Inversiones S.DE R. L., a Corporation formed and operated under the laws of Honduras.

The Rio Toco Project is a 9 mega-watt run of the river hydro-electric project and is currently in the early Feasibility Stage of development allowing Minerco to participate in the feasibility, development, design and construction stages of the Project. The Preliminary Feasibility Study has been completed and submitted to the Secretaria de Recursos Naturales y Ambiente ("SERNA"), Honduras's Natural Resources and Environmental Ministry.

Chiligatoro Update: We are preparing final studies and documentation for submission to Empresa Nacional de Energia Electrical (ENEE) for Power Purchase Agreement (PPA) and to Honduran Congress for final approval of the Chiligatoro Project. As previously released, the Intibuca Municipal Environmental Unit and the local communities and municipalities have formally approved the Chiligatoro Project. The Environmental Impact Study and Water Contract for the Chiligatoro Project have been submitted to Secretaria de Recursos Naturales y Ambiente ("SERNA"), Honduras's Natural Resources and Environmental Ministry. The Chiligatoro Project's 30 Year Operations Contract has been approved by the Honduran National Commission of Energy and signed by SERNA.

For a step by step look at the approval process in Honduras, visit our website at

"Based on our ongoing discussions with multiple financial institutions, we feel the time is right to start creating a portfolio of viable renewable energy projects within the region," said V. Scott Vanis, Minerco's President and CEO.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.

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