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Dec 18, 2008
Mindoro Amends Price And Term Of Purchase Warrants
EDMONTON, Alberta; December 18, 2008 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) advises that the company has received regulatory approval to amended the terms of 2,392,500 warrants, originally due to expire on December 20, 2008, and January 3, 2009, at an exercise price of $1.25 per share. These warrants were issue pursuant to a private placement of 4,785,000 shares which was accepted for filing by the TSX Venture Exchange on January 23, 2007.
The exercise price of the above warrants has been amended to $0.15 per share and the warrants will now expire on May 29, 2009. The length of the exercise period will be shortened to 30 days if the closing price of the listed shares exceeds the price of $0.30 per share for 10 consecutive trading days.
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on copper-gold and nickel exploration in the Philippines with a strategy of advancing early stage opportunities to production or joint venture. Mindoro has NI43-101 resource estimates on its Agata North nickel-cobalt project and on both its Lobo (SWB) and Archangel (Kay Tanda) gold-silver projects. Mindoro has also identified 22 porphyry copper-gold prospects, and recently announced a Memorandum of Understanding with Avocet Mining and a Letter of Agreement with Gold Fields covering its Batangas projects.
For further information, contact:
INVESTOR RELATIONS -- CANADA
Mindoro Resources Ltd.
Penny Gould, President: firstname.lastname@example.org
Tel: 780.413.8187 or Toll Free: 1.877.413.8187
INVESTOR RELATIONS -- EUROPE
Richard H. Mayr: email@example.com
Renmark Financial Communications Inc.
Barbara Komorowski: firstname.lastname@example.org
Jason Roy: email@example.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
This release may contain forward-looking statements including management's assessments of future plans and operations, and expectations of future production. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g. operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production). The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
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