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Jul 31, 2009
Mindoro Retains Senergy Communications For Investor Relations Services
EDMONTON, Alberta; July 31, 2009 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) is pleased to announce that it has retained the services of Senergy Communications Inc. for investor relations services.
Senergy will assist the company in procuring meetings with mining analysts and brokers, developing a strategic marketing plan to increase investor awareness, communicating with existing and potential investors, attending conferences and trade shows, developing effective corporate presentations, and providing general counsel on corporate communications and marketing.
"Senergy's full service corporate communications strategy is ideally suited to helping Mindoro strengthen its market presence and gain recognition for the value that we believe underlies our strong portfolio of gold, copper and nickel projects," stated Penny Gould, President of Mindoro.
In consideration of the services to be provided and subject to regulatory approval, Senergy will receive a fee of $5,000 per month and a stock option to purchase 300,000 shares of Mindoro at $0.12 per share and vesting in accordance with TSX Venture Exchange guidelines. The term of the contract is for 12 months.
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 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 Memorandum of Agreement with Gold Fields covering its Batangas projects.
Mindoro is well positioned to capitalize on the global demand for gold with additional plans underway to drill the Lobo and El Paso gold projects, funded by Gold Fields, and drill the American Tunnels gold /copper-gold project, commencing in August. Additional near-term objectives include finalizing one to two 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:
Mindoro Head Office
Penny Gould, President email@example.com
Tel: 780.413.8187 or
Toll Free: 1.877.413.8187
Investor Relations -- Canada
Senergy Communications Inc.
Investor Relations - Europe
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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