Das Comeback von Mindoro

und in D minus 8% !!

boah....nunja...die Hektiker halt....

aber bald gehts wie bei BAU los:)

Den Kauf weiterer 10 000 000 Aktien will der IFC Ende November abgeschlossen haben. Das ist in 5 Wochen. Dann soll laut Mindoro auch das ASX IPO abgeschlossen sein. Das wäre einen Monat früher als bisher geplant. Durch den Geldfluß werden auch alle weiteren Aktionen nach vorn gezogen!

http://www.stockhouse.com/News/USReleasesDetail.aspx?n=7917102

Gruß  

Auf WO wurde zu der zweiten Aktienausgabe eine andere Ansicht vertreten. Wahrscheinlich steckt der Fehler im Detail der Übersetzung. Es wird von der verschiedenen Bedeutung von second und secondary geschrieben. So wurde erklärt es handle sich um die Nachrangigkeit des ASX - Listings gegenüber dem TSX - Listings und nicht um eine zweite Tranche von Aktien.

Also keine weitere Verwässerung, gut so, weiter so, damit kann man leben :)))

In dieser news wird das Ende des IPO und der PP schon mit Ende November angegeben, mich würde interessieren was hinter dieser Eile steckt. Auch würde mich interessieren wieso den größten Teil der Aktien Asien Lion und Acorn Capital gekauft haben. Beide sind in Mindoro schon gut investiert gewesen. Wissen die vielleicht etwas das wir nicht wissen. Wenn es so wäre, müsste das doch am Kurs sichtbar werden irgendwer weiß immer mehr oder kaufen die für einige Millionen "die Katze im Sack"? Das kann ich nun wirklich nicht glauben!!!
Gruß  

@njimko: Könnte es sein, dass MIN die avisierte Nachfragespitze für Nickel und das damit verbundene Preishoch als Neueinsteiger ins Nickelgeschäft optimal nutzen möchte? Das wäre für mich eine logische Erklärung. Weiß nicht mehr, wo ich es gelesen habe, doch gehen Marktbeobachter davon aus, dass mit diesem Preishoch (April-Mai 2011) der Wettbewerb an Nickelanbietern zunehmen wird, was wiederum zu einem größeren Angebot führt. So fährt z. B. die kanadisch Nickelmine von Vale (10% des Weltmarktbedarfs) nach langen Streiks die Produktion wieder langsam hoch, aber auch neue Projekte wie das von GORO in Neukaledonien werden in den Markt dringen, so ein Report aus stock-world vom 26.07.2010.  Interessant: Mit Mindoro scheint niemand zu rechnen. Das darin eine große Chance liegt, würde die Zukäufe der bereits investierten Asian Lion und Acorn Capital etc. erklären. Sollten deren Zukäufe abgeschlossen sein, dann gehe ich davon aus, dass der Kurs "losgelassen" wird. Meine Meinung.

stock-world
http://www.stock-world.de/ac_analysen/...-Druck-bleiben-n3468987.html

siehe BIO's Eintrag vom 14.10.
"...Nickelpreis ist auf Aussicht auf 6 Monate steigend, was dann das Projekt noch rentabler macht!..."
http://www.ariva.de/Das_Comeback_von_Mindoro_t337332?page=7#jumppos185  

Meine Theorie zur Eile!
Nach dem Asian Lion die Führung bei Mindoro übernommen hat, wurde den neuen Führungskräften klar was für ein Potential in Mindoro steckt. Die Nickelresource ist doch nur ein Aspekt der gesamten Liegenschaften. In der Hauptsache geht es denke ich um die noch verbliebenen 19 Kupfer - Gold Porphyre und das epithermale Gold das noch zu explorieren ist. Dazu eine Erklärung für diese Lagerstätten in Punkt 2.1.3 und 2.1.5 mit Hinweisen auf die möglichen Größenordnungen und schon gefundenen Lagerstätten:

http://www.geographie.uni-wuerzburg.de/fileadmin/...Gold_Strecker.pdf

Sollte Asian Lion gerade im Zusammenhang mit der Gold-Hausse versuchen die 19 Kupfer-Goldporphyr-Lagerstätten möglichst schnell zu explorieren, hätte ich dafür vollstes Verständnis. Um die Kosten der Exploration zu finanzieren brauchen sie die DSO. Mit der Erz direkt Verschiffung wird es zu keiner weiteren Verwässerung kommen und die besagten Lagerstätten, von denen die Hälfte auf American Tunnels liegt können mit dem cashflow schnell gedrillt werden. Wer weiß schon wie lange der US -China Währungskonflikt noch andauert, nur so lange und solange die USA wirtschaftlich noch nicht angesprungen sind, wírd der Goldpreis in seinen aktuellen Höhen bestehen. Wer weiß schon wie es danach weitergeht?  

Miteinander geben sie die Lage wahrscheinlich am realistischsten wieder. Wenn man in steigende Nickelpreise und in hohe Goldpreise hinein produziert oder Resourcen - Updates bringt,  ist das mit Sicherheit ein guter Anfang. Nur zu!
Gruß  

http://www.ariva.de/news/...ierung-und-8-Mio-Finanzierung-ein-3558931

http://www.ariva.de/news/...ORO-LTD-Mindoro-reicht-Prospekt-2-3558936

Daraus ist abzulesen wie second und secondary gemeint war.
Gruß  

ausgesetzt?

oder warten alle ab?

ich hab heute noch ein paar k in ffm gekauft  

ICH AUCH !

Natürlich ist heute Handel, doch alle warten ab (wie wir auch) und niemand will sich günstig von seinen Anteilen trennen, das ist der Grund für den verhaltenen Handel.

LG Schabo04  

0 Volumen...jetzt doch gehandelt !:))

Ich auch :)


ahahhaha

Es wird gehandelt nur die Richtung stimmt nicht.
Sonst ist alles schwer in Ordnung bei Mindoro.
Gruß  

ist klar das alle günstig reinwollen...aber wir sind 2 % im Plus in CA...warum hier so doll im minus...?

also bitte....

sowas wie ein fass mit Boden:)

Canada sieht gut aus...es kann jetzt weiter nach oben gehen...von mir aus gerne:)

Auszug aus Q2/2010, dabei ist die Resourcentabelle nicht wichtig, wichtig sind die angekündigten Termine und Produktionsmethoden, besonders für die Scoping Studie:
Gruß

4. OVERVIEW OF EXPLORATION ACTIVITIES
The Company’s mineral exploration projects are located in the Agusan del Norte, Surigao del Norte (jointly the
Surigao District), Iloilo and Batangas Provinces of the Philippines. Mindoro’s field programs are carried out under
the supervision of Tony Climie, P.Geol, who approved the technical content of this document and who is a qualified
person as defined by National Instrument 43-101.
The mining industry in the Philippines is regulated at both the national and regional levels through the central and
regional offices of the Department of Environment and Natural Resources (“DENR”) and Mines and Geosciences
Bureau (“MGB”). Republic Act No. 7942 (the “Mining Act”) and its Revised Implementing Rules and Regulations
are the principal laws that regulate the mining industry. The Mining Act grants qualified private parties the right to
explore through:
• The rights to explore through exploration permit (“EP”);
• The rights to explore, develop and utilize mineral resources, through mineral agreements like mineral
production sharing agreement (“MPSA”), co-production sharing agreement and joint venture agreement;
• Financial or technical assistance agreement; and
• Mineral processing rights by way of mineral processing permit.
SURIGAO DISTRICT, NORTHERN MINDANAO
The Company has earned a direct and indirect 75% interest in the Agata, Tapian San Francisco and Tapian Main
projects, and a 10% direct interest in the Mat-I project, (collectively referred to as the “Surigao Projects”), which are
located in Surigao del Norte and Agusan del Norte Provinces of northern Mindanao, Philippines. The granted
tenements consist of an MPSA on Agata and EPs on Tapian San Francisco and Tapian Main. The remaining
tenements are held under MPSA and EP applications that are advancing normally through the approval process.
As of June 30, 2010, the Company had $9,974,097 in exploration expenditures recorded to the Surigao Projects,
including expenditures of $760,544 in the second quarter of 2010.
Nickel Laterite Options Study
As disclosed in the Company’s press release on March 15, 2010, an Options Study carried out by Boyd Willis
Hydromet Consulting of Brisbane, Australia, examined six options for first stage development and processing as
well as several hybrid options for the Agata nickel laterite resource. These included a Direct Shipping Option
(“DSO”), constructing an on-site processing plant which has an array of potentially applicable technologies;
including Nickel Pig Iron production, Ferronickel Smelting, Heap Leaching, Atmospheric (Tank) Leaching and
High Pressure Acid Leaching (“HPAL”).
The conclusions of the study were that a DSO operation focused on a higher grade component of the limonite
resource, while not optimizing value from the resource, offers a potential opportunity for early cash flow and could
be integrated into a staged atmospheric leach with saprolite neutralization followed by HPAL project treating the
much larger low grade (>0.9% Nickel) limonite target.
In relation to the DSO operation, detailed mineral resource drilling and DSO development planning was commenced
at Agata in March 2010.
As recommended by the Options Study a scoping study and metallurgical testing program for a large scale
integrated nickel laterite processing operation, was also commenced in March 2010.
2 of 32
Management’s Discussion and Analysis
For the Six Months Ended June 30, 2010
Agata Nickel Laterite Mineral Resource drilling and DSO Development Planning
A detailed infill drilling program continued during the quarter on the Agata Nickel Project. The diamond drilling
program was designed to define DSO nickel-iron limonite (>1% Nickel, >48% Iron) for the Chinese nickel-pig iron
market and high grade transition to saprolite ore (>1.4% Nickel) for Chinese Electric Arc Furnace and/or other acid
leach or ferronickel processing facilities in Australasia. Results of the drilling, combined with mine planning
information, will allow preparation of an NI 43-101 Mineral Reserve statement.
The program ended on July 13, 2010 with 185 holes completed with an aggregate of 3,560 meters. Final results
announced on August 10th 2010 were received for a total of 3,042 core assays. The average grades and thicknesses
from the entire program are summarized below (these include results from 91 drill holes reported in the first quarter
report):
Laterite Horizon Average Thickness (m) % Ni % Co % Fe
Ferruginous Laterite 1.63 0.64 0.07 48
Limonite 3.91 1.13 0.13 48
Saprolite 7.56 1.30 0.03 12
The results to date include grades and thicknesses consistent with those previously reported. These continue to be of
potential economic interest as DSO nickel-iron limonite (>1% Nickel, >48% Iron) for the Chinese nickel-pig iron
market and high grade transition to saprolite ore (>1.4% Nickel) for Chinese Electric Arc Furnace (“EAF”) and/or
other acid leach or ferronickel processing facilities in Australasia.
The new Agata resource and mine planning information, to be finalized in August 2010, will form part of a
submission to the MGB to achieve Declaration of Mining Project Feasibility and, if the feasibility study is positive,
potentially allowing financing and commencement of construction of a DSO nickel laterite project, conceptually
planned to produce up to three million wet metric tones (“WMT”), equivalent to two million dry metric tonnes
(“DMT”), of laterite DSO per annum.
The Company’s production objectives are intended to provide an indication of management’s current expectations
and are still conceptual in nature. It is uncertain that it will be 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.
Scoping Study on Large Scale Processing Operation
The scoping study and metallurgical testing program for a large scale integrated nickel laterite processing operation,
which commenced in early 2010, continued during the quarter and is progressing satisfactorily. Boyd Willis
Hydromet Consulting is carrying out the scoping study with the involvement of two other key groups: Vector
Engineering, evaluating engineering and infrastructure requirements and costs, and SGS in Perth, who will carry out
the acid leach metallurgical testing program.
The scoping study will look at a full scale integrated HPAL and Atmospheric Leach (AL) project, the results of
which will allow breakdown into different scale operations prior to a decision to move to the feasibility stage.
Progress during the quarter has involved continued advancement of modeling mass and energy flow, process design
and power estimations (including power generated from an acid plant). Metallurgical samples were collected during
the quarter and have been provided to SGS of Perth, Australia for acid leach testing.
The scoping study is expected to be completed in September or October, 2010.
3 of 32
Management’s Discussion and Analysis
For the Six Months Ended June 30, 2010
At the same time, the Company is fast-tracking evaluation of low-capital cost, upgrading technologies, such as
sintering, to produce much higher-value iron and iron-nickel products. This has the potential to quickly phase out the
shipping of raw, low-value DSO product, and to form an intermediate development stage prior to a major acid-leach
processing operation.
Nickel Laterite Exploration Target
On January 11, 2010, the Company released an Exploration Target on its northern Surigao tenements of from 50 to
70 million DMT in a grade range of 0.9% to 1.2% nickel and 28 to 32% iron (combined limonite and saprolite).
A drilling program to convert the Exploration Target to mineral resources commenced in the first week of August
2010, with four drilling rigs. During the quarter planning for the drilling program was carried out, and geological
mapping to refine drill targets commenced.
Most of the laterite areas are within two to three kilometers of the ocean, and limestone, an important component of
acid-leach processing technologies, has been identified over significant areas on the projects. The Exploration
Target covers approximately 900 hectares and the Agata North resource about 300 hectares.
The reader is cautioned that the potential quantity and grade of the Exploration Target is 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.
BATANGAS PROJECTS, LUZON
Mindoro holds a 100% direct and indirect interest in the Batangas land package, comprised of approximately 29,000
hectares and encompassing the El Paso, Lobo, Talahib and Archangel Projects. Both the Lobo and Archangel
Projects are held under a MPSA; and the Calo and El Paso prospect are held under an EP. The remaining Batangas
Regional ground is held under either MPSA or EP applications, which are in various stages of approval. Mindoro
has granted Gold Fields Netherlands Services BV (“Gold Fields”) options to earn up to 75% interest in the El Paso,
Lobo and Talahib Projects. As of June 30, 2010, the Company incurred $14,015,128 in exploration expenditures on
the Batangas Projects, including expenditures of $149,227 in the second quarter of 2010, mainly on community
relations activities.
The Batangas tenements are in the well-mineralized southern Luzon porphyry copper-gold belt. Initial NI 43-101-
compliant gold resources have been defined at both Lobo and Archangel (SWB and Kay Tanda, respectively), which
are both open to upgrading and extension, and at least 15 promising porphyry copper-gold prospects remain to be
tested, including the Calo, Talahib, Pica and El Paso prospects.
4 of 32
Management’s Discussion and Analysis
For the Six Months Ended June 30, 2010
Archangel Project:
Apart from ongoing community relations programs, no further work was conducted on the Archangel Project during
the quarter. As reported on March 5, 2010, the Kay Tanda mineral resource estimate was increased by additional
drilling and modeling. The following table sets out the current resource:
Summary of Resource
                                               Metric Tonnes    Gold Grade(g/t Au)     Silver Grade(g/t Ag)    Gold (ounces)    Silver(ounces)
OXIDE (> 0.3 G/T AU)
Measured                                2,673,000                  0.80                             7.72                         68,900                 663,200
Indicated                                 1,581,000                  0.65                              4.24                         33,000                 215,300
Measured + Indicated             4,254,000                  0.75                              6.42                       101,900                 878,500
Inferred                                      680,000                  0.57                               3.04                         12,400                   66,400
TRANSITION (> 0.5 G/T AU)
Measured                                1,401,000                 1.30                               4.92                         58,700                 221,400
Indicated                                  1,058,000                 1.11                              2.61                          37,900                   88,900
Measured + Indicated              2,459,000                 1.22                              3.92                          96,600                 310,300
Inferred                                        537,000                 0.97                             2.57                           16,800                  44,400
FRESH (> 0.5 G/T AU)
Measured                                 1,663,000                 1.46                              2.58                           78,000                138,000
Indicated                                  1,503,000                 1.26                              2.09                            61,000               101,000
Measured + Indicated              3,166,000                 1.37                              2.35                          139,000               239,000
Inferred                                     2,524,000                0.84                              1.23                             68,000              100,000
TOTAL
Measured                                  5,737,000               1.11                               5.54                           205,600           1,022,600
Indicated                                   4,142,000                0.99                              3.04                           131,900              405,200
Measured + Indicated               9,879,000                1.06                              4.50                           337,500           1,427,800
Inferred                                     3,741,000                0.81                              1.75                             97,200              210,800

• Total metal contents in the reported resources represent metal in the ground and have not been adjusted for
metallurgical recoveries and other factors which will be considered in later study.
• Mineral resources which are not mineral reserves do not have demonstrated economic viability.
• The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation,
socio-political, marketing, or other relevant issues.
• This work has produced Measured, Indicated and Inferred Mineral Resources in accordance with the definitions
outlined in the JORC Code of 2004 (Australasian Joint Ore Reserves Committee) and is reported in accordance
with NI 43-101.
• The NI 43-101 compliant Technical Report dated April 15, 2010 was filed on SEDAR on April 19, 2010.
The resource has been defined over a 1km strike length and remains open to the northeast and southwest within a six
km corridor of anomalous stream sediment, soil and rockchip geochemistry and IP chargeability. While current
focus of the Company is on advancing its nickel laterite resources, additional studies and interpretation are planned
for Kay Tanda, leading to a resumption of field work to advance the resource in 2011.
Mindoro has granted a right of first refusal to Gold Fields over the Archangel Project, which includes Kay Tanda.
However, the Company is evaluating various options for advancing the project and has no immediate plans for
concluding new joint venture arrangements for Archangel.
5 of 32
Management’s Discussion and Analysis
For the Six Months Ended June 30, 2010
El Paso, Lobo and Talahib Projects:
Pursuant to a Memorandum of Agreement dated April 29, 2009, Gold Fields has the right to earn up to a 75%
interest in each of the El Paso, Lobo and Talahib porphyry copper-gold projects by sole funding exploration and a
feasibility study on each project, up to certain expenditure limits.
For the twelve months commencing July 2009, Gold Fields had advised a forecast budget of approximately
AU$2,000,000 for drill testing both the El Paso and Lobo Projects and defining targets on the Talahib Project, which
are being evaluated for their porphyry copper-gold potential. Gold Fields completed a 6 hole reconnaissance
diamond drilling program on El Paso in 2009, the results of which were reported in a news release dated February 1,
2010.
Soil and stream geochemical studies and geological mapping have been completed by Gold Fields over the Lobo
Project during the quarter, and drilling is underway at the time of writing.
PAN DE AZUCAR PROJECT, PANAY ISLAND
Mindoro has earned a 40% interest in the Pan de Azucar Project, and is currently renewing its right to earn a 75%
interest from a private Philippine company. Reconnaissance drilling in two programs in 1999-2000 intersected
encouraging copper, gold, silver and zinc values within a massive pyrite body situated in a volcanic caldera.
Mindoro is evaluating the potential of the precious and base metals mineralization, as well as the potential of the
massive pyrite body to provide sulfuric acid for a major processing operation on its nickel laterite resources in the
Surigao District of Mindanao. Work has resumed at Pan de Azucar and, during the quarter, all drill core has been relogged
and re-interpreted in preparation for more detailed evaluations to commence in August.  

11.2010 Australien IPO beendet
12.2010 Scoping Studie für die Produktionseinrichtung DSO, Sinterung, HPAL 70-80Mt
12.2010 BFS zu DSO bzw. Sinterung
12.2010 drills für Surigao Nord Ni laufen weiter, Resourcen Update
12.2010 Gold Fields veröffentlicht ein Resourcen Update für Batangas
12.2010 beginn der drills auf den 19 Kupfer-Gold-Porphyren
01.2011 drills auf Pan de Azucar zur Bestimmung der Pyrit Resourcen
02.2011 erste Ergebnisse von den Porphyren Cu Au, weitere von Nord-Surigao Ni
03.2011 die DSO fähige obere eisenhaltige(48%) Laterit-Erzschicht wird freigelegt
03.2011 erste NI 43-101 Resourcen zu den Cu Au Porphyren
04.2011 Straße, Hafen und Erztrocknungsanlage stehen, ...Probelauf
04.2011 die erste DSO Probelieferung nach China wird verladen
05.2011 erste Ergebnisse zur Pyrit-Resource, und weitere zu den Porphyren und Ni
06.2011 die erste Schiffsladung DSO nach China wird abgefertigt
06.2011 die Sinterungsanlage wird aufgebaut
07.2011 BFS zu American Tunnels, mit Produktionsbeginn vor Ende 2011, open pit
09.2011 erstes pig iron wird hergestellt
09.2011 BFS zu Surigao Nord und Agata mit HPAL
10.2011 erstes pig iron wird nach China verschifft
10.2011 die 4 Bohr-Rigs aus Nord werden auf Kupfer Gold Porphyre gebracht
11.2011 beginn des Aufbaues der HPAL Produktionsanlagen
12.2011 beginn der Produktion von Gold auf American Tunnels
usw...

Gruß  

http://steelguru.com/stainless_steel_news/..._ASX_listing/173809.html

Gruss

kanns mal losgehen oder nicht?

Muss ich wirklich die Oma holen==))?????????????????????

Ich droh ja ungern, aber wenn diese Woche nix passiert dann kriegen wir hier bald Besuch und glaubt mir das wird kein Zucker schlecken !

Also bis WE sind wir hier 10% im PLUS !!!!!!!

sonst...

momentan explodiert fast alles und Mindoro rührt sich nicht. Aber irgendwann werden wir wieder entdeckt. Und man kann auch mal in ein paar Tagen um 100% steigen - kommt schon....

Wär nur schön gewesen das Australien IPO zu einem höheren Kurs zu machen. Wär besser für die Verwässerung gewesen.  

Nach dem BHP-Angebot für Potash of Sask. stiegen "alle" Kalierzeuger und -explorer im Gleichtakt. Nur Western Potash nicht. Aber dann richtig!!! Hier wird sich dieser Freudensprung hoffentlich wiederholen.  

Hallo Leute, ich glaube es geht los mit Mindoro.
In meinem fiktiven Zeitplan hatte ich diesen Part auf 01.2011 gesetzt.
Was da mit den Bohrergebnissen veröffentlicht wird, übertrifft meine Vermutungen bei weitem. Es ist nicht nur Pyrit (hochgradiges Eisen und Schwefel)  gebohrt worden, sondern auch Kupfer, Gold, Silber und Zink, noch dazu ist mit wesentlich größeren Resourcen als bisher vermutet zu rechnen. Angegeben war bisher 800mx200mx10m, also ca 1,6MiotDMT. Nun soll es nicht nur nach Norden offen sein, es soll auch bis zu 40m stark sein und um 250 bis 300m länger sein, das sind dann kurz überschlagen 5,25MtDMT. Das entspräche über 2Mt Schwefel für die Säureaufbereitung der HPAL! Nach dem gringsten Gold Grad gerechnet ergeben sich bei dieser Tonnage, über 200000ozGold!!!
Besser geht es nicht!!!
Gruß


Mindoro Commences Drilling Pan de Azucar Copper-Gold and Pyrite Project

EDMONTON, ALBERTA--(Marketwire - Nov. 9, 2010) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (FRANKFURT:WKN 906167) today announced that drilling has commenced on its Pan de Azucar Project, Iloilo Province, Philippines.

An initial program of approximately 1,000 meters will further evaluate the Valderama massive sulphide body where promising gold, copper, silver and zinc values were intersected by Mindoro in two scout-drill programs. The program will also lead to a preliminary options study on the suitability of the massive pyritic sulphide as feedstock for sulphuric acid production for processing of the Agata nickel laterite resource.

Pan de Azucar Island covers an intensely altered volcanic caldera hosting the Valderama pyritic massive sulphide body and Asparin Hill porphyry copper-gold prospect. Fourteen drill holes in two programs partially outlined the Valderama sulphide body, a flat-lying and near-surface sheet of massive pyritic sulphides carrying significant base and precious metal values. Drill results included PDA-03 with 37.1 meters of 0.82% copper, 1.88 g/t gold from 16.3 meters depth; PDA-06 with 37 meters of 0.14 % copper, 1.25 g/t gold from 6 43 meters depth; PDA-08 with 40.25 meters of 0.69 % copper, 1.21 g/t gold, 4.34 g/t silver, and 0.63% zinc from 55.75 meters depth. The mineralization is hosted within a body of nearly pure pyrite containing from 36 to 42 percent sulphur. For further information regarding previous Pan de Azucar drill programs, refer to press releases on Mindoro's website dated October 2 and December 3, 2001; January 9, October 2, and November 7, 2002; and January 23, 2003.

The Valderama sulphide body is typically between 10 to 40 meters thick. Based on drilling, mapping and geophysical expression, Valderama is estimated to be approximately 200 meters wide by 800 meters long. The mineralization is open to the north for a further 250-300 meters, to the property boundary, where gossanous outcrops are present.

The Pan de Azucar Mineral Production Sharing Agreement covers 535 ha on Pan de Azucar Island and adjacent Panay Island. Under a 1997 agreement with a private Philippines company, Mindoro may earn a 75 percent interest in the Pan de Azucar Project through phased exploration expenditures and issues of shares. Mindoro has earned a 40 percent interest to date and has recently extended its right to earn the additional 35 percent to bring it to a total 75 percent interest, which will be attained during the current program.

Tony Climie, P.Geol, is Mindoro's Qualified Person as defined by National Instrument 43-101, who is responsible for monitoring the supervision and quality control of Mindoro's regional exploration programs and who has reviewed and verified the technical information contained in this news release.

ABOUT MINDORO

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the 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 controls major nickel laterite resources in the Surigao District, Mindanao, where potential for a value-added direct shipping ore (DSO) operation to generate early cash flow is advancing as well as large scale potential for an onsite processing plant.

Mindoro has NI 43-101 Mineral Resource estimates on its Agata nickel-cobalt project totaling Measured and Indicated 32.6 million dry metric tonnes (DMT) at 1.04% Nickel and 0.05% Cobalt and Inferred 1.68 million DMT at 1.04% Nickel, 0.04% Cobalt. The Surigao regional Exploration Target is 50 million to 70 million DMT at 0.9% to 1.2% Nickel (see press releases dated January 11 and September 8, 2010). Drilling of the Surigao nickel laterite exploration target is in progress.

Mindoro also has NI 43-101 Mineral Resource estimates on both its Lobo and Archangel (Kay Tanda) gold-silver projects. Mindoro has identified 22 porphyry copper-gold prospects and has three projects in the Batangas area of southern Luzon which are the subject of a farm-in arrangement whereby Gold Fields Ltd may earn 75 percent interest through direct project expenditure.

Drilling on the American Tunnels project at Agata has confirmed potential for a near-surface, bulk-tonnage gold target and deeper porphyry copper-gold targets and at Pan de Azucar the company has commenced drilling of copper-gold and massive pyritic sulphide targets. Other gold and copper-gold targets in the Surigao region will be reviewed prior to developing proposals for further drilling or joint venture.

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 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.

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.


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.

For more information, please contact

Mindoro Resources Ltd.
Mindoro Head Office
Penny Gould, VP Investor Relations
780.413.8189 or Toll Free: 1.877.413.8187
penny@mindoro.com
www.mindoro.com
or
CHF Investor Relations
Investor Relations - Canada
Jeanny So, Director of Operations
1.416.868.1079
jeanny@chfir.com or ir@mindoro.com
or
CHF Investor Relations
Investor Relations - Europe
Robert Sarcher, Director
49.821.6089051
robert@mindoro.com