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Dec 04, 2012
Mindoro Investment Red Mountain Mining Discloses High-Grade Gold Results
MELBOURNE, AUSTRALIA, 4 December 2012 - Mindoro Resources Ltd. (TSXV: MIO; ASX: MDO; Frankfurt: WKN 906167) is pleased to announce that its 56% owned investment ASX listed Red Mountain Mining Ltd (ASX:RMX, "Red Mountain") has disclosed high-grade gold results from two areas on its 100% interest Batangas project, south of Manila in the Philippines:
Mindoro President and CEO Jon Dugdale said, "We are very pleased with the initial high-grade results from the Red Mountain program at Batangas. The Batangas gold assets are now owned and operated by Red Mountain, a gold focussed exploration and Development Company in which Mindoro has a majority stake. We look forward to further encouraging results from the Red Mountain program."
Further details can be seen in recent Red Mountain releases accessible on the Red Mountain Mining Ltd website, http://www.redmm.com.au/html/s01_home/home.asp. Mindoro policy, as a substantial shareholder of Red Mountain, is to provide summaries of news released by Red Mountain from time to time. Investors are advised to consider Red Mountain news releases before buying and selling Mindoro shares.
On behalf of the Board of Directors,
President and CEO
For investor relations inquiries please email email@example.com, or telephone one of the following:
Australia: Jon Dugdale Tel: +61 3 9614 5055
Canada: Jeremy Hill, CHF Investor Relations, Tel: +1 416 868 1079 ext 238
Germany: Robert Sarcher, Aprendo Capital, Tel: +49 821 6089051
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has a 75% interest in the Agata Nickel Project, Mindanao and the Pan de Azucar Sulphur-Copper-Gold project, Iloilo, both of which are the subject of option and joint venture agreements with TVI Pacific Inc. (release 27 September 2012). Mindoro also holds a 55.8% stake in ASX listed Red Mountain Mining (ASX:RMX) that has a 100% direct and indirect interest in the Batangas gold and copper-gold projects, and a 75% direct and indirect interest in the Tapian San Francisco copper-gold project.
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 information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by Jon Dugdale, who is a Fellow of The Australasian Institute of Mining and Metallurgy.
Jon Dugdale is the President and CEO of Mindoro Resources Ltd and also an Executive Director employed by Red Mountain Mining and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and is a qualified person as defined by National Instrument 43-101. Jon Dugdale consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.
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.
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