Mindoro Arranges Bridging Loan

EDMONTON, ALBERTA--(Marketwired - Dec. 9, 2013) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(ASX:MDO)(FRANKFURT: WKN 906167) is pleased to announce that it has entered into agreements with certain individuals to borrow an aggregate of up to $175,000. The loans bear interest of 15% per annum, payable quarterly, and the aggregate principal amount of the loans will be payable two years from the date of the advance. The loans may be prepaid, at any time without premium or penalty, with the consent of both the Company and the lenders. The Company intends to repay the principal amount of the loans and the interest from funds that become available from operations or any subsequent debt or equity financings. The proceeds of the loans will be used for general working capital.

In accordance with the policies of the TSX Venture Exchange, lenders will receive Bonus Shares comprised of 100,000 common shares per $25,000 principal amount loaned. The Company issued 500,000 common shares on December 9, 2013, upon receipt of $125,000 from arms-length lenders. The Company also received $25,000 from a director of the Company, as described below, for aggregate funds received of $150,000. The Company anticipates receiving an additional $25,000 within 21 days from another arms-length lender and issuing an additional 100,000 common shares.

One of the lenders, Rob Garden, is also a director of the Company. As required by the listing rules of the Australian Securities Exchange, the Company intends to seek shareholder approval to issue 100,000 Bonus Shares to Mr. Garden. A date has not yet been set for a shareholders' meeting and the Bonus Shares will only be issued to Mr. Garden upon receipt of shareholder approval. In the event the Company does not receive shareholder approval, the Company will immediately repay the funds borrowed from Mr. Garden.

The Company will issue a press release promptly disclosing the additional issues of Bonus Shares when they occur. All Bonus Shares are subject to a four month hold period from the date of issue.

On behalf of the Board of Directors,

Tony Climie, CEO

About Mindoro

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO), Australian Securities Exchange (MDO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has a 75% interest and an option to acquire the remaining 25% in the Agata Nickel Project, Mindanao, and the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo. TVI Pacific Inc. has the option to earn up to a 60% interest in these projects by meeting the earn-in requirements outlined in the June 24, 2013, release. Mindoro also holds a 20.8% stake in ASX listed Red Mountain Mining (ASX:RMX), which has a 100% direct and indirect interest in the Batangas gold and copper-gold projects.