Mindoro enough financial results for first quarter 2012 and an update on the strategic partnership provides for the Agata nickel project in Batangas and the Goldbohrplänen ready

Mindoro enough financial results for first quarter 2012 and an update on the strategic partnership provides for the Agata nickel project in Batangas and the Goldbohrplänen ready

 

• Annual reports filed; Expenditure is kept low during the negotiations for the Company's transaction

• receipt of offers from potential strategic partners for the Agata Nickel Project, Negotiations in progress

• Gold Drill Program at Batangas to investigate the feeder structures planned at Archangel, Expressions of Interest

MELBOURNE (AUSTRALIA), 1. More 2012 – Mindoro Resources Ltd. (TSXV: MY; ASX: MDO; FFT: OLM) (Mindoro, "The Company") is pleased, announce, that the interim consolidated balance sheet of the company and the opinions and analysis of management (Management’s Discussion and Analysis) for the three-month period, on the 31. March 2012 ended, has filed. The documents are available on the website of the company, on SEDAR under the profile of Mindoro, and on the ASX website available.

Mindoro is also pleased, an update regarding the search for a strategic partnership for the two-phase development of the Agata nickel project and the plans for the resumption of gold- provide and copper-gold drilling program in Batangas.

Strategic partner for the Agata Nickel Project

At the 2. November 2011 , the Company announced the commencement of proceedings, aimed at finding a strategic partner for the Agata Nickel Project. This aims to, to accelerate the two-phase Erschließungsstragie, at:

1. the feasibility phase of the DSO (Direct Shipping Ore; direct shipping of ore) demonstrate the project, obtain the permits for that phase and then set up the first production infrastructure;

2. The preferred hydrometallurgical treatment process prior to a final feasibility study (Definitive Feasibility Study; DFS) to bring in the pilot testing phase.

The Company has received preliminary offers three times to establish a strategic partnership; these include two offerings of large retail groups, the placements of equity and purchase contracts include an emphasis on the financing of the development of Phase 1 DSO project at Agata, and an offer to fund a definitive feasibility study for the Phase 2 project at Agata nickel processing, which is already in the Vormachbarkeitsphase (PFS) is (see press release dated 2. November 2011).

The company has continued to monitor the price development for the potential phase-1-DSO-products of Mindoro. Despite a weakening of the LME nickel prices since the publication of the framework assessment and marketing study on 2. November 2011 the DSO prices for nickel pig iron starting material remained stable. Once the financing is completed by a strategic partner and purchase agreements, frame, the DSO will be upgraded to review a feasibility study and environmental approvals from the current certificate (Environmental Compliance Certificate; ECC) be extended to a Declaration of Mining Project Feasibility,.

The company also notes changes in the pre-feasibility study (PFS) created process flow diagram before, to concentrate on the most cost-effective treatment based on atmospheric leaching of nickel. For the majority of the mineral reserve at Agata is saprolite, which is better suited for the atmospheric leaching as a basis for the treatment HPAL. The next phase is the work of the pilot test process flow diagram with a focus on atmospheric leaching before making a final feasibility study, the completion of financing arrangements with a strategic partner is subject to, include.

The company is working with its financial advisor Deloitte Corporate Finance Pty Ltd. („Deloitte“) the early conclusion of talks and negotiations with potential strategic partners, so that the DSO feasibility study and the final approval process will be completed before the company can develop and pilot test work for the preparation by atmospheric leaching and the production record of a final feasibility study.

Jon Dugdale, President und CEO von Mindoro, said: "We are close to finalizing an agreement with a strategic partner, to promote the two-phase development of the Agata nickel project and the benefits of the excellent location, Perceive infrastructure and metallurgical aspects of the project. "

Goldbohrprogramm bei Batangas

The company has completed the first thorough evaluation and planning for the next round of drilling at the gold projects in Batangas. The drilling program will initially focus on the investigation of the feeder structures, the Kay Tanda gold resources at the MPSA concession area undergoing Archangel, focus. In the first phase, a total of eight wells with a total length of approximately 2.000 Meters will be drilled, before connecting wells will be drilled to increase the measured and indicated resources as well as to investigate the underlying and adjacent porphyry copper-gold targets.

In addition, the company has the concession area Lobo with the collection of data, on to the 5 Kilometers of mapped strike length of epithermal Erzgangstruktur available, started. These include the high grade gold Erzgangstruktur foothills Southwest Breccia (SWB) and other drill intersections including LB 51, the few hundred meters northeast along strike from the SWB Trend Camo 4,5 Meters with 488,38 g / t silver and 1,83% Intersected copper (see press release dated 10. February 2005), and LB 38, the westward drift in the area near the old copper mine Lobo 12 Meters with 7,42 g / t gold and 6,32 g / t Ag intersected. In these two epithermal foothills previously been no systematic connection holes drilled. The previous drilling will be re-examined and recorded, before further high grade drilling plans and other defined goals are developed.

The drilling program is to be included in Batangas, once a strategic partnership to finance the Agata nickel project has been established. The company also has a number of expressions of interest in the financing of gold- and copper-gold drilling programs in Batangas and development of gold resources in Batangas in the direction of development will.

Im Namen des Board of Directors

Jon Dugdale,
President und CEO

For more information, please contact Jon Dugdale, President and CEO, through the Office of Mindoro in Melbourne +61 3 9614 5055.
Information for investors, please e-mail or ir@mindoro.com. telephone via the following contacts:
Australia: Jon Dugdale, Such: +61 3 9614 5055
Canada: Jeanny So, CHF Investor Relations, Such: +1 416 868 1079 DW 225
Jeremy Hill, CHF Investor Relations, Such: +1 416 868 1079 DW 238
Germany: Robert Sarcher, Opening Capital, Such: +49.821.6089051
Website: www.mindoro.com

ABOUT MINDORO

Mindoro is a TSX Venture Exchange (MY), der Australian Securities Exchange (MDO) and the Frankfurt Stock Exchange (WKN 906167) notierendes Tier-1 companies. Mindoro is focused primarily on exploration and development of nickel-, Gold- and copper-gold projects in the Philippines. Here, the company holds a 75% interest in the Agata Nickel Project, which is currently located in Vormachbarkeitsstadium (November 2011). This project has a NI 43-101 compliant mineral resource, in the total 42,76 Million tonnes of measured and indicated resource with a nickel content of 1,01%, accordingly 430.000 Tonnes of nickel, as well as 2,435 Million tonnes at a nickel content of 0,99 % divide (September 2011) . In addition, the company has NI 43-101 compliant mineral resource at the Company's gold-silver projects Lobo (2005) and Archangel (2010) bei Batangas, drilling of a defined copper-gold-sulfur exploration target in the Pan de Azucar project in the province of Iloilo, where the company has a participation of 75% has, and can 10 major porphyry copper-gold-mining areas in various stages of development show.

The TSX Venture Exchange nor its Regulation Services Provider (described in the policies of the TSX Venture Exchange Regulation Services Provider) assume no responsibility for the adequacy or accuracy of this release.

The objectives of the company in terms of exploration and production should convey an impression of the current expectations of management and are still conceptual in nature. It is uncertain, whether sufficient resources can be proved or. whether those resources prove to actually be economically viable mining reserves can be converted. Until the completion of a feasibility study in sight, whether these goals will be met. The exploration programs of Mindoro are under the supervision of Tony Climie, P.Geo. prepared and / or planned and carried out. Mr. Climie is a Qualified Person under National Instrument 43-101 and tested in accordance with the JORC Code as disclosed in this news release related technical information and exploration confirmed. Boyd Willis (FAusIMM) is a Qualified Person under National Instrument 43-101 the disclosed information in this press release for the development and metallurgical processing tested and confirmed. All resource estimates of the company were in accordance with Canadian guidelines (Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators/„NI 43-101“) and according to the classification system of the Canadian Institute of Mining, Metallurgy and Petroleum created. NI 43-101 is developed by the Canadian securities regulatory provision, which the publication of scientific and technical information about mineral projects regulates. All resource information is published in accordance with the provisions of the JORC Code.

This press release may contain forward-looking statements; also the management's assessments of future plans and operations, and expectations regarding the future production. These statements are based on current expectations and involve a number of risks and uncertainties, which could cause, the actual results or events to differ materially from those, which are currently expected. These risks and uncertainties – without restriction – and risks associated with the mining and exploration (e.g.. operational risks in the development, Exploration and production; Delays or changes in plans with respect to exploration or development projects or. Investment costs; Uncertainties in reserve estimates; Uncertainties relating to exploration results; Uncertainty of estimates and projections relating to production and the uncertainty regarding the availability of capital). Assumptions, on preparation of such statements, could potentially prove to be inaccurate, even if they are held at the time of the creation of reasonable. Forward-looking statements may not be considered reliable. The company is not obligated, to update any forward-looking statements, unless, This is required by applicable laws.

For the correctness of the translation is any liability assumed! Please note original English message!

Which filings can be found at:
http://www.irw-press.at/press_html.aspx?messageID=24997

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