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Aug 06, 2004
Private Placement Closes
EDMONTON, AB; August 06, 2004 -- Mindoro Resources Ltd. (TSX-V: MIO) reports that the TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement, previously announced on June 21, 2004 and amended on July 28, 2004.

Number of Shares: 831,112 common shares

Purchase Price: $0.225 per share

Warrants: 831,112 share purchase warrants to purchase 831,112 shares

Warrant Exercise Price: $0.30 for a two-year period

Insider Participation:James Climie: 44,488 shares

The shares are subject to a four month hold period, expiring on December 6, 2004. Proceeds from the placement will be used for administrative and general working capital.

ABOUT MINDORO
Mindoro is a Tier One Company listed on the TSX Venture Exchange (TSX-V: MIO). The Company is exploring for gold and gold-copper in the prolifically mineralized magmatic arcs of the Asia-Pacific Region. Mindoro has been active in the Philippines for seven years and is presently focused on six promising projects in politically stable jurisdictions of the Philippines.

For further information, contact:
Head Office
Penny Gould, Executive Vice President
Phone: (780) 413-8187
Fax: (780) 426-2716
Email: penny@mindoro.com
Website: http://www.mindoro.com

Investor Relations
Marshall Farris, Ascenta Capital Partners Inc.
Phone: (604) 628-5800
Toll Free: 1-866-684-4209
Email: info@ascentacapital.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
 
 

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