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Aug 04, 2009
Herrick Lau Appointed Chief Financial Officer
EDMONTON, Alberta; August 4, 2009 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) today announced that Eugene Zarowny has resigned his position as Chief Financial Officer of the Company to pursue other business opportunities. Mindoro's management thanks Mr. Zarowny for his assistance over the past year and wishes him well in his future endeavours. Mindoro further reports that Mr. Herrick Lau has been appointed Mindoro's Chief Financial Officer, effective immediately.
Penny Gould, Mindoro President, stated, "On behalf of the board of directors and management, I warmly welcome Mr. Lau to the Mindoro team. With his extensive public company experience, and a particular expertise in the minerals exploration industry, Mr. Lau will be a valuable asset to the Company".
ABOUT HERRICK LAU, CFA, MA, BBA
Herrick Lau is currently Vice President, Corporate Finance of Baron Group Canada. Mr. Lau is an experienced investment banking professional who has conducted transactions in initial public offerings, reverse takeovers, mergers & acquisitions, divestitures, and various advisory services. Through his over 14 years of experience in investment research and corporate finance, Mr. Lau is knowledgeable in performing due diligence, valuation, financing structuring, fairness opinion and research. Aside from his practice in corporate finance, Mr. Lau also has experience as a finance executive in publicly traded and private companies. His industry practice involves developing financing strategy, liaising with external parties, devising business development plans and maintaining compliance with corporate governance. Mr. Lau is also a Chartered Financial Analyst (CFA) charter holder and has a Master degree in Finance and a Bachelor degree in Business Administration at Simon Fraser University.
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
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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