Medoro Resources Ltd.
TSX : MRS
TSX : MRS.WT

Medoro Resources Ltd.

February 16, 2011 16:20 ET

Minister of Energy and Mining of Colombia Visits Marmato Project and Indicates Support for Open Pit Mine

TORONTO, ONTARIO--(Marketwire - Feb. 16, 2011) - Medoro Resources Ltd. (TSX:MRS)(TSX:MRS.WT) is pleased to announce that the Colombian Minister of Energy and Mining, Carlos Rodado, visited the Marmato project on Tuesday, February 8th, and announced during his visit his support for an open pit mine operated by Medoro Resources. This is in reference to the Company's stated objective of developing a large-scale open pit mine at Marmato mountain.

The minister visited the Caldas Department town, where Medoro is conducting an exploration program and currently operating an underground gold mine through its subsidiary companies Minerales Andinos de Occidente and Mineros Nacionales.

At the event, the Colombian government minister emphasized the need for long term, viable solutions to mining the area to benefit both the country and the region, and the need to continue the dialogue between the company and the surrounding community. He also indicated that the present situation of informal underground mining is not the best approach for the long term due to the inherent risks to miners working without a comprehensive safety program in place. He asserted that the ideal situation would be an open-pit mine.

Minister Rodado's statements were broadcast across Colombia's major media outlets. The Company is presently engaged in the process of a Preliminary Economic Assessment study, and taking all the necessary steps for the eventual permitting requirements for an open pit mine at Marmato.

About Medoro Resources Ltd.

Medoro Resources Ltd. is a gold exploration, development and mining company with a primary focus on developing a large-scale, open-pit gold-silver mine at Marmato in Colombia. Medoro also has a 5% interest in the former Frontino Gold Mines properties in Colombia with an option to increase its interest to 50%. Elsewhere, Medoro holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela as well as interests in gold exploration properties in Mali.

Additional information on Medoro Resources Ltd. can be found on the Company's website at www.medororesources.com and by reviewing the Company's profile on SEDAR at www.sedar.com.

Contact Information

  • Medoro Resources Ltd.
    Greg DiTomaso
    Investor Relations
    (647) 436-2592