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Oct 06, 2000
Purchase Warrant Amendments and Appointment of Chief Financial Officer
PURCHASE WARRANT AMENDMENTS

Mindoro Resources Ltd. ("Mindoro") has received conditional consent from the Canadian Venture Exchange to re-price and extend the exercise period of 1,750,000 Purchase Warrants (the "Warrants") issued on August 27, October 19, November 29 and December 29, 1999 and February 18, 2000. Under the Warrants' original terms, holders could, upon exercise of one Warrant and payment of $0.30 for a period of one year from the issue date of the Warrants, acquire one Common Share of Mindoro. The amendments will allow holders to exercise their Warrants until August 27, 2001 at a price of $0.17. Holders will be mailed new certificates with an expiry date of August 27, 2001, which will replace certificates currently held.

APPOINTMENT OF CHIEF FINANCIAL OFFICER

Tony Climie, President of Mindoro, is pleased to announce the appointment of Brian G. Farrell, C.A., to the position of Chief Financial Officer. This appointment recognizes Mr. Farrell's twenty years of financial management expertise and emphasizes Mindoro's on-going commitment to prudent financial stewardship. Mr. Farrell has served as a director of Mindoro since March 2000 and also serves as Chairman of the Audit Committee. Mindoro is a Canadian mineral exploration company focussing on gold and gold-copper exploration in the Asia Pacific region. Mindoro trades on the Canadian Venture Exchange under the symbol MIO.

For further information, contact Penny Gould, Executive Vice President.
Phone: (780) 413-8187
Fax: (780) 426-2716
Email: mindoro@mindoro.com
Website: www.mindoro.com

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

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