EDMONTON, Alberta and Vancouver, British Columbia; April 12, 2007 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) and Panoro Minerals Ltd. (TSX-V: PML; Frankfurt: PZM WKN 914959) having received TSX approval the Companies are announcing the closing of the transactions regarding the Sale of Panoro's 40% Interest in the Surigao Joint Venture to Mindoro.
For details of the terms of the Purchase and Sale Agreement refer to the March 14, 2007 news release, Purchase and Sale of Surigao Interest.
FOR FURTHER INFORMATION, CONTACT:
Mindoro Head Office
Penny Gould, Executive Vice President
Panoro Head Office
Helmut Wober, President
Mindoro Investor Relations - Canada
Trent Dahl, Ascenta Capital Partners Inc.
Toll Free: 1.866.684.4209 ext. 228
Mindoro Investor Relations - Europe
Richard Mayr, Argentuminvest GmbH
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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 of estimates and projections relating to production). 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.