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Dec 30, 2010
Mindoro Retains Investor Relations in Germany and Australia
EDMONTON, Alberta; December 30, 2010 - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) today advised that Robert Sarcher through his consulting company Aprendo Capital GmbH has entered into a contract to provide investor relations services to the German market and has resigned as a director of the Company. The agreement, effective January 1st, 2011, will continue for a twelve month term during which time Mindoro will pay Aprendo Capital C$2,000 per month. The agreement may be terminated by either party with 30 days notice. Robert Sarcher currently owns 353,500 Mindoro common shares and has options to purchase common shares as follows:
Mindoro also announced it has retained Nathan Ryan of NWR Communications Pty Ltd for investor relations services in Australia. The agreement, effective January 1, 2011, is for a term of 12 months and may be terminated by either party with 90 days notice. NWR Communications will receive a monthly retainer of A$1,300. Nathan Ryan and NWR Communications have no direct or indirect interest in the Company or its securities.
"I would like to personally thank Robert for his years of service as a director and commitment to continuing on in an investor relations role, which will further strengthen the European market base that he played a key role in establishing." stated Jon Dugdale, Mindoro's President and CEO. "We are also pleased to welcome Nathan Ryan to the Mindoro team to assist in establishing and growing our investor base in Australia following Mindoro's recent listing on the ASX."
On behalf of the board of directors,
President and CEO
For further information, please contact:
Jon Dugdale, President and CEO, Tel: +61 3 9614 5055
Email: firstname.lastname@example.org, or
Nathan Ryan, NWR Communications, Tel: +0420 582 887
Penny Gould, VP Investor Relations, Tel: +780.413.8189, Toll free 1.877.413.8187
Robert Sarcher, Tel: +49.821.6089051;
ABOUT APRENDO CAPITAL
Aprendo Capital GmbH, owned and managed by Robert Sarcher, is a provider of investor relations services to public resources companies based in Canada or Australia. Focused on companies with projects located in developing countries, the IR program is based on ethical standards and built for companies who support Aprendo Capital's vision in an extraordinary way. The strength of Aprendo Capital is its disciplined approach to the development and execution of customized investor relations services in the German speaking area of Europe. The depth of capital market knowledge at Aprendo Capital dates back to the 1980's.
ABOUT NWR COMMUNICATIONS
NWR Communications is a specialist investor relations and media company based in Melbourne, Australia. NWR focuses on investor communications for micro to mid cap resource and industrial companies, predominately listed on the Australian Securities Exchange (ASX). NWR develops and carries out communication strategies to create a positive profile of its clients.
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on nickel, copper and gold exploration in the Philippines with a strategy of advancing early-stage opportunities to production or joint venture.
Mindoro is assessing the potential to develop a value-added direct shipping ore (DSO) nickel operation to generate early cash flow as well as large scale potential for an onsite processing plant in the Surigao District, Mindanao, where the company controls major nickel laterite resources.
Mindoro has NI 43-101 Mineral Resource estimates on its Agata nickel-cobalt project
and NI 43-101 Mineral Resource estimates on its Lobo and Archangel (Kay Tanda) gold-silver projects, as well as an additional 22 porphyry copper-gold prospects. Senior gold producer, Gold Fields, may earn 75 percent interest in three of Mindoro's projects through direct project expenditure.
Three drill programs are currently underway on the Company's projects and an integrated scoping study on the Agata nickel laterite project is expected to be completed early in the first quarter of 2011.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The Company's DSO and large scale production objectives are intended to provide an indication of management's current expectations and are still conceptual in nature. It is uncertain that sufficient resources will be established and if established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. The potential quantity and grade of the Exploration Target is also conceptual in nature; it is uncertain if further exploration will result in the Exploration Target being delineated as a mineral resource and there is no guarantee that these resources, if delineated, will be economic or sufficient to support a commercial mining operation.
Tony Climie, P.Geol, is Mindoro's Qualified Person as defined by National Instrument 43-101 and is a competent person as defined by the JORC Code, who is responsible for monitoring the supervision and quality control of Mindoro's exploration programs and who has reviewed and verified the technical information contained in this news release. Mr. Climie is an executive and a director of Mindoro and is a member of the of the Alberta Professional Engineers, Geologists and Geophysicists Association. Mr. Climie has more than five years of experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he has undertaken. Mr. Climie has consented to the release of the technical information in the form and context in which it appears.
The Company's resource estimates were originally prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum classification system. NI 43-101 is a rule developed by the Canadian Securities Administrators that governs how Canadian issuers disclose scientific and technical information about mineral projects and which is broadly equivalent to the JORC Code in Australia. All resource information is also expressed in terms of the JORC Code.
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 with respect to results of exploration, 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. The Company does not undertake to update forward looking statements except where required to do so by law.
You can view the Next Press Releases item: Wed Jan 5, 2011, Mindoro Retains Specialist to Consult on Agata Nickel Project
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