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Aug 30, 2006
Mindoro Retains IR Firm In Europe And Issues Stock Options
EDMONTON, Alberta; August 30, 2006 -- Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today announced that Mindoro has retained Argentuminvest GmbH to provide marketing and investor relations services in Europe. Argentuminvest will focus on strengthening European investor awareness, managing corporate communications, providing German translations, and increasing media coverage. Argentuminvest will receive a fee of EUR$3,500 per month with an initial contract term of three months.
The Company also reports that incentive stock options have been granted to directors, officers, and employees of the Company and the Company's Philippine subsidiary, MRL Gold Phils., Inc., to purchase an aggregate of 400,000 common shares at an exercise price of $0.60 per share for a five year term. Options have also been granted to consultants to the Company, including Argentuminvest GmbH, to purchase an aggregate of 300,000 common shares at an exercise price of $0.60 per share for a two year term and vesting over twelve months, with no more than one quarter of the options vesting in any three month period. All grants are subject to regulatory approval.
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 INVESTOR RELATIONS
Penny Gould, Executive Vice President
Marshall Farris, Ascenta Capital Partners Inc.
Toll Free: 1.866.684.4209 ext. 22
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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