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Nov 05, 2004 Private Placement Closes EDMONTON, AB; November 5, 2004 -- Mindoro Resources Ltd. (TSX-V: MIO; Frankfurt: OLM) reports that the TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement, previously announced on October 28, 2004. Number of Shares: 1,102,200 common shares (increased from 620,000 previously announced on October 28, 2004) Purchase Price: $0.225 per share Warrants: 1,102,200 share purchase warrants to purchase 1,102,200 shares Warrant Exercise Price: $0.30 for a two-year period Insider Participation: 464,978 shares (42%) The shares are subject to a four month hold period. Proceeds from the placement will be used for general working capital. ABOUT MINDORO Mindoro is a Tier One Company trading on the TSX Venture Exchange (TSX-V: MIO) and the Frankfurt Stock Exchange (OLM). 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 since 1996 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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