Mindoro Advises on Board Changes

MANILA, Philippines, Sept. 28, 2018 (GLOBE NEWSWIRE) -- Mindoro Resources Ltd. (NEX: MIO.H; Frankfurt: WKN 906167) (“Mindoro” or the “Company”) reports that Mr. Geocel D. Olanday has resigned as a Director of Mindoro.  The Board of Directors wishes to thank Mr. Olanday for his invaluable contributions and dedication to Mindoro during his tenure as a Director and extends its best wishes in all his endeavors.

Mindoro is pleased to announce the appointment of its Interim Chief Executive Officer (CEO), Ms. Mary Anne Antazo as member of the Board of Directors, assuming the position vacated by Mr. Olanday.   Ms. Antazo was the Treasurer and Vice President of Finance of MRL Nickel Philippines, Inc., Mindoro’s wholly-owned subsidiary in the Philippines, prior to her appointment as the Interim CEO in September, 2015. 

About Mindoro

The common shares of Mindoro trade on the NEX (MIO.H) and Frankfurt Stock Exchange (WKN 906167).  Mindoro has a direct and beneficial 40% interest in the Agata Mining Joint Venture and direct and beneficial 75% interest in the Agata Processing Joint Venture with an option to acquire an additional 25% interest in the Agata Processing Joint Venture.  Mindoro also holds 75% interest in the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo City.  TVIRD has the option to earn up to 60% interest in the Agata Processing and Pan de Azucar projects by meeting the earn-in requirements outlined in the June 24, 2013 press release, which include producing a definitive feasibility study for a nickel processing facility.  As of October 16, 2015, a PMRC compliant DFS was completed by Agata Processing Inc., which would result in TVIRD earning a total of 60% interest in API shares.  Mindoro also holds 75% interest and an option to acquire additional 25% interest in the Tapian San Francisco Copper-Gold Project, Mindanao.

For additional information please contact:

Edsel Abrasaldo, Vice President Operations
Phone: +63 917.809.1328
Email: edsel@mrlnickel.com

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