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Re: Press Release - Friday, March 27, 2009
Mindoro Amends Price Of Purchase Warrants
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EDMONTON, Alberta; March 27, 2009 - Mindoro Resources Ltd. (TSXV: MIO;
Frankfurt: WKN 906167) advises that the company has received regulatory
approval to lower the exercise price of 2,037,561 warrants from $1.25
per share to $0.15 per share. The length of the exercise period will
be shortened to 30 days if the closing price of the listed shares
exceeds the price of $0.30 per share for 10 consecutive trading days.
There has been no change to the May 29, 2009, expiration date of the
warrants. These warrants were issued pursuant to a private placement
which was accepted for filing by the TSX Venture Exchange on May 29,
2007.
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
gold, copper-gold and nickel exploration in the Philippines with a
strategy of advancing early stage opportunities to production or joint
venture. Mindoro has NI 43-101 resource estimates on its Agata North
nickel-cobalt project and on both its Lobo (SWB) and Archangel (Kay
Tanda) gold-silver projects. Mindoro has identified 22 porphyry
copper-gold prospects and has a Memorandum of Understanding with Avocet
Mining and a Letter of Agreement with Gold Fields covering its Batangas
projects.
Mindoro is well positioned to capitalize on the global demand for gold
in 2009 with plans underway to drill the Kay Tanda and Lobo gold and
copper-gold projects, funded by Avocet and Gold Fields, and drill the
American Tunnels gold/copper-gold project. Additional 2009 objectives
include finalizing one to two additional joint venture arrangements on
Mindoro's porphyry copper-gold prospects at Pan de Azucar and Surigao
and identifying a suitable partner to fund development of the
significant Agata North nickel resource.
For further information, contact:
INVESTOR RELATIONS - CANADA
Mindoro Resources Ltd.
Penny Gould, President: penny@mindoro.com
Tel: 780.413.8187 or Toll Free: 1.877.413.8187
www.mindoro.com
Renmark Financial Communications Inc.
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Jason Roy: jroy@renmarkfinancial.com
Tel: 514.939.3989
www.renmarkfinancial.com
INVESTOR RELATIONS - EUROPE
Robert Sarcher: robert@mindoro.com
Tel. 49 821 6089051
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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 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.
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Copyright (c) 2009 MINDORO RESOURCES LTD. (MIO) All rights reserved.
For more information visit our website at http://www.mindoro.com/ or
send mailto:info@mindoro.com
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Mindoro Resources Ltd
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DEVELOPMENT STAGE |
CODE : MIO.V |
ISIN : CA6029131050 |
CUSIP : 602913105 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Mindoro Res. is a nickel and copper exploration company based in Canada. Mindoro Res. develops nickel, copper, cobalt and iron in Philippines, and holds various exploration projects in Philippines. Its main asset in development is AGATA in Philippines and its main exploration properties are LOBO, ARCHANGEL, TAPIAN MAIN and TAPIAN SAN FRANCISCO in Philippines. Mindoro Res. is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 1.5 millions as of today (US$ 1.1 millions, € 1.0 millions). Its stock quote reached its highest recent level on June 22, 2007 at CA$ 1.31, and its lowest recent point on July 05, 2016 at CA$ 0.01. Mindoro Res. has 297 437 399 shares outstanding. |