EDMONTON, Alberta; November 24, 2006 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) has received a total of $226,506.60 from the exercise of 755,022 purchase warrants, at $0.30 per share, that were to expire on November 22, 2006. Warrants exercised includes 311,000 warrants exercised by Mindoro's President, Tony Climie, 146,800 warrants exercised by Mindoro's Executive Vice President, Penny Gould and 7,222 warrants exercised by Mindoro's Director, Marshall Farris.

Following the exercise of the warrants, Mindoro has 64,830,515 shares issued and outstanding and 79,912,464 shares fully diluted.

ABOUT MINDORO
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). The company is focused on the Philippines where it is drill-defining a gold resource on its Kay Tanda Prospect and has identified 22 porphyry copper-gold drill targets, as well as a promising nickel-iron laterite prospect.

FOR FURTHER INFORMATION, CONTACT:


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

INVESTOR RELATIONS-CANADA
Trent Dahl
Ascenta Capital Partners Inc.
Phone: 604.628.5800
Toll Free: 1.866.684.4209 ext. 228
E-mail: info@mindoro.com

INVESTOR RELATIONS-EUROPE
Richard Mayr
Argentuminvest GmbH
Phone: +49.9421.785250
Fax: +49.9421.785255
E-mail:info@argentuminvest.com


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