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Apr 13, 2005
Private Placement Closes
Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) reports that the TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement, previously announced on April 5, 2005.

Number of Shares:           2,117,500 common shares (increased from 1,500,000)

Purchase Price:             $0.32 per share

Warrants:                   1,058,750 share purchase warrants to purchase 1,058,750 shares

Warrant Exercise Price:     $0.50 for eighteen months after the units are issued

Finders Fees Paid:          A finders fee of seven percent is payable to the following:
                            $4,256 to Canaccord Capital Corporation
                            $8,960 to Union Securities Ltd.
                            $3,500 to Wolverton Securities Ltd.


The shares are subject to a four month hold period, expiring on August 13, 2005. Proceeds from the placement will be used for general working capital and to fund additional drilling on Mindoro's Lobo Project in the Philippines.

ABOUT MINDORO

Mindoro is a Tier One Company trading on the TSX Venture Exchange (TSXV: MIO) and the Frankfurt Stock Exchange (OLM). The Company is exploring for gold and gold-copper in the prolifically mineralized magmatic arcs of the Asia-Pacific Region. Mindoro has been active in the Philippines since 1996 and is presently focused on six promising projects in politically stable jurisdictions of the Philippines.

For further information, contact:

Head Office
Penny Gould, Executive Vice President
Phone: 1-780-413-8187
Fax: 1-780-426-2716
Email: penny@mindoro.com
Website: http://www.mindoro.com

Investor Relations
Marshall Farris, Ascenta Capital Partners Inc.
Phone: 1-604-628-5800
Toll Free: 1-866-684-4209
Email: info@ascentacapital.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 
 

You can view the Next Press Releases item: Tue May 10, 2005, Drilling Underway on Pica Porphyry Prospect and West Drift Epithermal Prospect

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