🕐22.06.10 - 20:02 Uhr
Results of Mindoro Annual General Meeting
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Re: Press Releases - Tuesday, June 22, 2010
Results of Mindoro Annual General Meeting
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EDMONTON, Alberta; June 22, 2010 - Mindoro Resources Ltd.
(TSXV: MIO;
Frankfurt: WKN 906167) held its annual general meeting on June 17,
2010, at which time Tony Climie, Jon Dugdale, Doug Frondall, Rob
Garden, Oscar Reyes, Robert Sarcher, John Tosney and Howard Walker were
elected to the companys board of directors.
Renewal of the companys
stock option plan received the approval of eighty-three percent of the
voted shares.
Amending the companys by-laws received the approval of
ninety-one percent of the voted shares and amending the companys
Articles to permit a meeting of shareholders to be held outside of
Canada received the approval of eighty-five percent of the voted
shares.
D+H Group LLP was appointed as auditor for the ensuing year.
Immediately following the business portion of the meeting, Jon Dugdale
reviewed the companys progress in the Philippines and discussed the
companys plans for commercializing the Agata nickel laterite project
in the coming year as well as advancing several of the companys gold
and copper-gold targets.
A copy of the presentation is available on
Mindoros website at www.mindoro.com.
At the companys subsequent board meeting, Rob Garden and Howard Walker
were appointed Chairman and Vice Chairman, respectively, of the board
for the ensuing year.
Doug Frondall, Rob Garden, and John Tosney were
appointed to the companys audit committee; Doug Frondall, Rob Garden,
John Tosney and Howard Walker were appointed to the compensation
committee; Jon Dugdale, Rob Garden and Howard Walker were appointed to
the governance committee; Jon Dugdale, Tony Climie and Robert Sarcher
were appointed to the disclosure committee; and Jon Dugdale, John
Tosney and Tony Climie were appointed to the environmental, health and
safety committee.
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 controls major
nickel laterite resources in the Surigao District, Mindanao, where
potential for a direct shipping ore (DSO) operation to generate early
cash flow is being advanced as well as large scale potential for an
onsite processing plant.
Mindoro has NI 43-101 Mineral Resource estimates on its Agata North
nickel-cobalt project (November 2009) totalling Measured and Indicated
26.92 million dry metric tonnes (DMT) at 1.11% Nickel and 0.06% Cobalt
and Inferred 3.79 million DMT at 1.06% Nickel, 0.05% Cobalt.
The
Surigao regional exploration target is 50 million to 70 million DMT at
0.9% to 1.2% Nickel (January 2010).
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% through direct project
expenditure.
Goldfields has commenced drilling on the Lobo project.
Drilling on the American Tunnels project has confirmed potential for a
near-surface, bulk-tonnage gold target and porphyry copper-gold
targets.
Other objectives include progressing joint venture
discussions on Mindoros porphyry copper-gold prospects at Surigao.
For further information, contact:
Mindoro Head Office
Penny Gould, VP Investor Relations
Tel: 780.413.8189 or
Toll Free: 1.877.413.8187
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.
For more information visit our website at http://www.mindoro.com/ or
send mailto:
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