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Mar 27, 2009
Mindoro Amends Price Of Purchase Warrants
EDMONTON, Alberta; March 27, 2009 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) advises that the company has received regulatory approval to lower the exercise price of 2,037,561 warrants from $1.25 per share to $0.15 per share. 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. There has been no change to the May 29, 2009, expiration date of the warrants. These warrants were issued pursuant to a private placement which was accepted for filing by the TSX Venture Exchange on May 29, 2007.
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on gold, copper-gold and nickel exploration in the Philippines with a strategy of advancing early stage opportunities to production or joint venture. Mindoro has NI 43-101 resource estimates on its Agata North nickel-cobalt project and on both its Lobo (SWB) and Archangel (Kay Tanda) gold-silver projects. Mindoro has identified 22 porphyry copper-gold prospects and has a Memorandum of Understanding with Avocet Mining and a Letter of Agreement with Gold Fields covering its Batangas projects.
Mindoro is well positioned to capitalize on the global demand for gold in 2009 with plans underway to drill the Kay Tanda and Lobo gold and copper-gold projects, funded by Avocet and Gold Fields, and drill the American Tunnels gold/copper-gold project. Additional 2009 objectives include finalizing one to two additional joint venture arrangements on Mindoro's porphyry copper-gold prospects at Pan de Azucar and Surigao and identifying a suitable partner to fund development of the significant Agata North nickel resource.
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
Renmark Financial Communications Inc.
Barbara Komorowski: email@example.com
Jason Roy: firstname.lastname@example.org
INVESTOR RELATIONS - EUROPE
Robert Sarcher: email@example.com
Tel. 49 821 6089051
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 and the uncertainty of the availability of capital). 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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