Tuesday, November 15th, 2011 - Mindoro Resources Ltd.
MELBOURNE, AUSTRALIA -- (MARKET WIRE -- Mindoro Resources Ltd. (TSX VENTURE: MIO) (ASX: MDO) (FRANKFURT:WKN 906167) is pleased to announce that its Philippine operating subsidiary, MRL Gold Phils. Inc. (MRL) has received the three top awards in the Exploration Category at the 58th Annual National Mine Safety and Environment Conference held on November 8-11, 2011. The awards are:

-- The 2011 Presidential Mineral Industry Environmental Award;
-- The 2011 Best Mining Forest Award; and
-- The 2011 Safest Exploration Award.

The awards were made by the Presidential Mineral Industry Environmental Award (PMIEA) Selection Committee, led by the Philippines Department of Environment and Natural Resources (DENR) Mines and Geosciences Bureau, Forest Management Bureau, Philippine Mine Safety and Environment Association, and the Chamber of Mines of the Philippines.

The Presidential Mineral Industry Environmental Award for Mineral Exploration Category is the highest performance award in the combined fields of Health, Safety, Environment and Community Relations programs (HSEC).

The Best Mining Forest Contest award recognizes the Company's work in reforestation and rehabilitation, its adopt-a-river project, water source protection program, the newly established eco-farm, drill site rehabilitation, biodiversity consideration, as well as its other environmental programs.

The Safest Exploration Award recognizes the Company's commitment to occupational and environmental safety standards in all of its exploration activities.

Mindoro's President and CEO Jon Dugdale commented, "These awards reflect the Company's concerted commitment to achieving excellence in our social, environmental, health and safety programs. The foundation of high standards in these areas, established over a 15-year period, will be maintained as we advance our key projects towards production."

On behalf of the Board of Directors

Jon Dugdale, President and CEO


Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on nickel, gold and copper-gold exploration and development in the Philippines.

Mindoro has NI 43-101 Mineral Resource estimates on its Agata Nickel Project, in the Surigao District, Mindanao, that include Measured and Indicated resource estimates totalling 42.76 million tonnes at 1.01% nickel, for 430,000 tonnes contained nickel, and Inferred resource estimates totalling 2.435 million tonnes at 0.99% nickel. In addition the Company has NI 43-101 Mineral Resource estimates on its Lobo (2005) and Archangel (2010) gold-silver projects, as well as 10 key porphyry copper-gold prospects at varying stages of advancement.

In March 2011 Mindoro released a preliminary economic assessment (PEA) on the Agata Nickel Project where the Company controls major nickel laterite resources and is drill testing regional targets. On 2 November 2011 the Company announced the results of a prefeasibility study (PFS) into an integrated on-site nickel processing project, based on the PEA, and the results of a scoping study into the development of a thermally upgraded (sintered) iron-nickel ore operation. The company already has an environmental compliance certificate (ECC) to produce up to 2 million dry metric tonnes (DMT) of laterite direct shipping ore per annum from Agata and released the preliminary economic assessment indicating a viable DSO operation in March 2011.

The drilling program at the Batangas project consists of the Southwest Breccia (SWB) high-grade epithermal gold shoot at Lobo, and recently commenced drilling at Archangel to test for gold "feeder" structures. The recently drill tested Pan de Azucar copper-gold-sulphur massive sulphide deposit remains open with depth to the southeast. A metallurgical testing program has commenced on Pan de Azucar samples examining acid producing capacity for nickel laterite processing as well as copper and gold flotation and leaching. Mindoro is also evaluating and prioritizing its many high-potential copper-gold porphyry targets prior to further drill targeting.

The Company's development and 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.

Mindoro's exploration programs are prepared and/or designed and carried out under the supervision of Tony Climie, P.Geo., who is a qualified person as defined by National Instrument 43-101 and is a competent person as defined by the JORC Code, and who has reviewed and verified the pertinent disclosure of exploration related technical information contained in this news release.

Boyd Willis, FAusIMM, a qualified person as defined by National Instrument 43-101, has reviewed and verified the disclosure of a development and metallurgical processing nature contained in this news release.

The Company's resource estimates were originally prepared in accordance with Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101") and the Canadian Institute of Mining, Metallurgy and Petroleum classification system. NI 43-101 is a rule developed by the Canadian Securities Administrators that governs how Canadian issuers disclose scientific and technical information about mineral projects. All resource information is also expressed in terms of the JORC Code.

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.

Mindoro's Melbourne office
+61 3 9614 5055

Mindoro Resources Ltd. - Australia:
Nathan Ryan
NWR Communications
+61420 582 887

Mindoro Resources Ltd. - Canada:
Jeanny So
CHF Investor Relations
+1 416 868 1079 ext. 225

Mindoro Resources Ltd. - Canada:
Jeremy Hill
CHF Investor Relations
+1 416 868 1079 ext 238

Mindoro Resources Ltd. - Germany:
Robert Sarcher
Aprendo Capital
[email protected]

Contact Profile

Mindoro Resources Ltd. - Australia: Nathan Ryan NWR Communications

P: +61420 582 887
W: www.mindoro.com


Philippine operating subsidiary, MRL Gold Phils



More Formats