Mindoro Joint Venture Completes Third DSO Shipment from Agata - Seite 2

A National Instrument ("NI") 43-101 compliant mineral resource estimate, released on April 10, 2013, shows the Agata DSO project to have reported Proven and Probable Reserves of 9.7 million wmt with a grade of 48% Fe with 0.9% Ni. The report is available for viewing on http://www.sedar.com and www.mindoro.com. A definition drill program is underway on the Agata nickel laterite resource to further define extensions both within and outside the current pit design and to upgrade and increase the April 2013 resource estimate.

As announced in a press release dated November 20, 2014, AMVI has received an offer of a US$8 million term loan facility from China Banking Corporation. AMVI intends to use the China Bank term loan facility to ramp up operations at the Agata DSO project, to fund the current exploration programs and resource updates at the Agata nickel laterite and limestone projects, and for general working purposes.

The Agata Project is located in Agusan del Norte province, within the Surigao mining region on the island of Mindanao, Philippines. The Surigao region is a major lateritic nickel producing region providing ore to processing plants in Australia, China, Korea and Japan. The Agata Project is well located and is expected to benefit from its deep protected seaport, the opportunity for year-round shipping and its proximity to main markets in Asia.

ABOUT MINDORO

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has a 40% interest in the Agata Mining Joint Venture and a 30% interest, plus an option to acquire an additional 25%, in the Agata Processing Joint Venture. Mindoro also holds 75% interest in the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo. TVI Resource Development (Phils.), Inc. ("TVIRD") has the option to earn up to a 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. Mindoro also holds 75% interest and an option to acquire an additional 25% in the Tapian San Francisco Copper-Gold Project, Mindanao.