🕐12.01.10 - 22:56 Uhr
New Director And Advisors Appointed
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Re: Press Release - Tuesday, January 12, 2010
New Director And Advisors Appointed
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EDMONTON, Alberta; January 12, 2010 - Mindoro Resources Ltd.
(TSXV:
MIO; Frankfurt: WKN 906167) is pleased to announce the appointments of
Jon Dugdale to the Companys board of directors and Howard Walker and
Michael Grace to the Companys Advisory Board.
Rob Garden, Mindoros chairman stated, "On behalf of the Board of
Directors I welcome our new board member, Jon Dugdale, and our two new
advisors, Howard Walker and Michael Grace.
Asian Lion is our largest
shareholder.
Having the active support of Asian Lion and Lion
Selection at both Mindoros board and advisory level, through Jon and
Howard, is a real "game changer" for Mindoro.
Jon and Howard are well
acquainted with business and financial opportunities in both Australia
and Southeast Asia.
We look forward to their support in advancing
Mindoros interests in that area of the world.
Michael has been a strong supporter of Mindoro for many years.
He has
wealth of experience and many connections that will be most helpful.
With the assistance of these three men we look forward to 2010 as a
significant building year for our company."
Mindoro also announced that incentive stock options have been granted
to new appointees to purchase an aggregate 200,000 common shares at an
exercise price of $0.125 per share for a five year term.
ABOUT JON DUGDALE BSC (HONS), MAUSIMM
Jon Dugdale is the President of Asian Lion Limited and a member of the
management team of Lion Manager Pty Ltd.
("the Lion Manager).
Since
graduating as a geologist with first class honours from the University
of Melbourne in 1986 Jon has 22 years mining and investment experience
in Australia and the Asian region.
This includes 7 years with Western
Mining Corporation (WMC), 12 years with Mining Project Investors (MPI)
and Leviathan Resources and the last 3 years with Lion/Asian Lion.
With MPI from 1993 to 2004 Jon was associated with a number of
exploration discoveries made by the MPI exploration team, including
Silver Swan nickel deposit in WA and Golden Gift in Stawell, Victoria.
The takeover of MPI Mines saw Jon move to Leviathan Resources as
Manager Exploration, responsible for building and managing the
exploration portfolio in SE Australia, before joining Asian Lion and
the Lion Manager in 2006.
Asian Lion is a private equity fund, formed in 2006, that provides
capital for development projects, feasibility studies and advanced
exploration in junior mining companies active in Asia.
The fund is
managed by the Lion Manager, which is also the manager of the African
Lion funds and is managed from Lion Selections Melbourne office.
Asian Lions fund is currently US$34.2 million and its shareholders
include Lion Selection, the IFC (the World Banks investment arm),
PROPARCO (French Development Bank), ABN AMRO, Altitude Investment
Company, and Atlas Financial International.
Asian Lion currently holds 4,985,000 Mindoro common shares.
ABOUT HOWARD WALKER BSC, ARSM, MAUSIMM
Howard Walker currently serves as the Executive Director of Lion
Selection Group Limited.
Howard graduated as a Mining Engineer from the
Royal School of Mines in London in 1975.
He worked for General Mining
in South Africa for five years, prior to joining Mount Isa Mines in
Queensland as a mine planning engineer in the copper and lead/zinc
areas.
In 1983, Howard joined stockbroker J B Were & Son as precious
metals analyst, specialising in the Australian gold sector.
He became
an associate director of the firm in 1986, and was appointed Manager of
the Resources Research team in 1987.
Howard joined J B Were Corporate Services Limited as a director in 1990
and was closely involved in numerous capital raisings for resource
companies such as BHP Gold, Asarco Australia, Plutonic Resources
Limited, Acacia Resources Limited, Lihir Gold Limited, North Flinders
Mines Limited and Homestake Gold of Australia.
Howard was a director of
Highlake Resources NL from 1996 to 1997.
Howard was a founder and
executive director of Lion Manager from 1997 before retiring in 2007
and is Executive Chairman of Altitude Investments, which is a
shareholder in Asian Lion.
Lion Selection is a mining investment company with exposure to
investments made by the special purpose African Lion investments funds
and Asian Lion fund, which are both managed by Lion Manager Pty Ltd.
Through these funds, Lion Selection Group invests in junior resource
companies providing venture capital to carefully selected mining and
exploration companies with outstanding management and development
projects.
Lion Selection currently holds 833,350 Mindoro common shares.
ABOUT DR.
MICHAEL GRACE, BSC, P.ENG, B.ED, AM AND PHD.
Dr Michael Grace is president of M Grace Consulting and an
Adjunct/Clinical Professor, Faculty of Medicine and Dentistry,
University of Alberta.
He has been an Adjunct, Clinical or Honorary
Professor at Universities of Calgary, British Columbia, and Western
Ontario.
Dr.
Grace has authored/co-authored 300 scientific publications in
journals or books.He has served on more than 60 masters and doctoral
committees and taught students, residents, medical staff, faculty and
corporations in scientific methods, risk management, ethics, research
and experimental design, statistics, and evaluative techniques and
consulted to a diverse set of corporations and organizations,
nationally and internationally.
Dr Grace has served on Boards of private and public companies and
ethics committees.
He has been Canadian Regional Director of the
Harvard Alumni Association, on the Board of the Harvard Alumni
Association, a Harvard Schools Committee Chairman and member of the
Nominating Committee at Harvard for Overseers and Directors
Dr.
Grace previously served on Mindoros board of directors from 1997
to 2001.
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
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 three joint
venture projects with Gold Fields in the Batangas area, Philippines.
In addition to advancing the Agata North nickel laterite project,
drilling funded by Gold Fields is in progress on the El Paso
copper-gold project and soon to start on the Lobo project.
Drilling has
recently been completed on the American Tunnels gold and copper-gold
targets.
Mindoro is assessing various alternatives to commercialize the
Kay Tanda gold resource in the best interests of the shareholders.
Other objectives include identifying a joint venture partner to advance
Mindoros copper-gold prospects at Surigao.
For further information, contact:
Mindoro Head Office
Penny Gould, President
Tel: 780.413.8187 or
Toll Free: 1.877.413.8187
www.mindoro.com
Investor Relations -- Canada
Senergy Communications Inc.
Investor Relations
Tel: 1.778.331.2030
Investor Relations - Europe
Robert Sarcher
Tel.
49.821.6089051
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.
This release may contain forward-looking statements including
managements 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) 2010 MINDORO RESOURCES LTD.
(MIO) All rights reserved.
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