SOURCE: Minerco Resources, Inc.

November 22, 2010 16:30 ET

Minerco Resources, Inc. Receives Water Contract From Honduran Government for the Chiligatoro Hydro-Electric Project

HOUSTON, TX--(Marketwire - November 22, 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 received the Water Contract from the Honduran Government for its Chiligatoro Hydro-Electric Project.

The Chiligatoro Project's Water Contract, approved and granted by Secretaria de Recursos Naturales y Ambiente ("SERNA"), Honduras's Natural Resources and Environmental Ministry, assigns the rights to exclusively exploit the National water rights of the Chiligatoro and Grande de Manazapa Rivers by the Chiligatoro Project. The Water Contract is attached to the 30 Year Operations contract and is renewable with the Operations Contract. The Water Contract, in conjunction with the Operations Contract, allows the Chiligatoro Project to be formally submitted to Empresa Nacional de Energia Electrical (ENEE) for Power Purchase Agreement (PPA) and National Congress for Final Approval and National Registration.

As previously released, the Intibuca Municipal Environmental Unit and the local communities and municipalities have formally approved the Chiligatoro Project. The Environmental Impact Study has been submitted and is pending approval from SERNA, Honduras's Natural Resources and Environmental Ministry. The Honduran National Commission of Energy has approved and SERNA has signed the 30 Year Operations Contract for the Chiligatoro Project.

For a step by step look at the approval process in Honduras, visit our website at
www.minercoresources.com/process.php.

"SERNA's approval and execution of Chiligatoro's Water Contract is another milestone in the approval process for our Chiligatoro Project. We are very confident in the Project's future and look forward to working closely with the Honduran Government in completing the remainder of the approval process for our Chiligatoro Project," said V. Scott Vanis, President and CEO of Minerco.

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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