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Mar 20, 2006
Mindoro Announces Private Placement
EDMONTON, Alberta; March 20, 2006 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today announced that it will raise up to CDN $2,030,000 by way of a private placement. The Company intends to sell up to 2,900,000 units to qualified investors at a price of $0.70 per unit. Each unit will consist of one Common Share and one half Common Share Purchase Warrant. Each whole Warrant entitles the holder to acquire one additional common share at a price of $1.00 per share for a period of one year after closing of the offering, and thereafter at $1.25 per share for one additional year. The Company may pay finder's fees as allowed by the policies of the TSXV.

Net proceeds of the offering will be used for advancing the Company's projects in the Philippines. The terms of the private placement are subject to regulatory approval. A news release will be made when the placement closes and shares issued.

ABOUT MINDORO
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (OLM). The company has identified 22 porphyry copper-gold prospects and a nickel laterite prospect in the Philippines and has an aggressive strategy of drilling multiple targets in 2006.

FOR FURTHER INFORMATION, CONTACT:

HEAD OFFICE
Penny Gould, Executive Vice President
Phone: 780.413.8187
Fax: 780.426.2716
E-mail: penny@mindoro.com
Website: www.mindoro.com

INVESTOR RELATIONS
Marshall Farris, Ascenta Capital Partners Inc.
Phone: 604.628.5800
Toll Free: 1.866.684.4209 ext. 22
E-mail: info@mindoro.com


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

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