Mindoro JV Completes Three Nickel Laterite DSO Shipments in March for US$1.93 Million

EDMONTON, ALBERTA--(Marketwired - April 10, 2015) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) today announced that Agata Mining Ventures Inc. ("AMVI"), a joint venture company in which Mindoro holds a 40% interest, completed three shipments of high-iron/low nickel direct shipping ore ("DSO") during March 2015, for expected gross proceeds of US$1.93 million, from the Agata nickel laterite project located in northern Mindanao, the Philippines.

AMVI expects to complete four DSO shipments in April, subject to weather conditions, consisting of two shipments of high iron/low nickel limonite and two shipments of higher grade nickel saprolite. The anticipated increase in shipments reflects the completion of production ramp up activities that included causeway expansion and stockpile area development work.

"We look forward to the anticipated increase in shipment capacity in April and to potentially realizing higher selling prices from the saprolite DSO, which has higher nickel content than the limonite ore," stated Penny Gould, CEO of Mindoro. "AMVI's plans to ramp up operations to ship over 2.5 million wet metric tonnes of nickel laterite in 2015 would make the Agata project one of the largest DSO operations in the Philippines and potentially add significant value to Mindoro's 40% interest in the project."

March Shipment Summary

The shipments of limonite ore completed in March 2015 represent the eighth through tenth shipments completed by AMVI since operations commenced in October 2014. Shipment details and expectations of gross revenues to be received (subject to final assays and price adjustments) are as follows:

• Eighth shipment totalling 54,231 wet metric tonnes (wmt) of ore containing 0.92% nickel and 48.10% iron was completed on March 13, 2015, for expected gross revenue of US$678,000.

• Ninth shipment totalling 48,961 wmt of ore containing 0.90% nickel and 48.01% iron was completed on March 20, 2015, for expected gross revenue of US$612,000.

• Tenth shipment totalling 51,250 wmt of ore containing 0.90% nickel and 48.60% iron was completed on March 27, 2015, for expected gross revenue of US$641.

AMVI has now completed a total of 10 shipments containing 528,757 wmt of limonite DSO for total gross proceeds of US$7.04 million.