Mindoro Resources Ltd.

Second Quarter Results and Board and Management Changes

EDMONTON, ALBERTA--(Marketwired - Sept. 1, 2015) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) ("Mindoro" or the "Company") today announces its financial results for the three and six months ended June 30, 2015. Details of the Company's financial results are contained in the unaudited condensed consolidated interim financial statements and management's discussion and analysis, which are available on SEDAR at www.sedar.com and the Company's website www.mindoro.com. The Company also announces that Mary Anne Antazo has replaced Luis Santos as Interim CEO effective September 1, 2015.

SECOND QUARTER FINANCIAL OVERVIEW

At June 30, 2015, Mindoro's cash balance was $62,000 and the Company had a working capital deficit of $3.3 million, excluding its warrants liability, which will not be settled in cash. The Company has net income in the first half of 2015 of $96,000, including net income of $1.3 million in the second quarter compared to net incomes of $147,000 and $95,000 in the same periods of 2014 respectively. In the second quarter, Mindoro recognized income of $1.0 million from its share of the net income for the quarter of its associate, Agata Mining Venture Inc. ("AMVI"), as well as a $0.6 million gain from the remeasurement of its warrants liability.

As announced by the Company on July 1, 2015, Mindoro continues to be in default on a $555,561 bridge loan provided by TVI Resource Development (Phils.), Inc. ("TVIRD") which is secured by its interest in wholly owned subsidiary MRL Nickel Philippines Inc ("MRL") which holds the Company's AMVI interest. However, no demand for repayment of principal and interest under the bridge loan has been received by the Company to date and Mindoro continues to negotiate with TVIRD to both extend the loan term further and increase the amount.

Agata Mining Ventures Inc. Operations

AMVI completed nine shipments of nickel laterite in the first half of 2015, shipping 371,410 wet metric tonnes ("wmt") of high iron/low nickel limonite ore and 120,340 wmt of higher nickel grade saprolite ore for gross proceeds of US$8.1 million. AMVI received average gross revenue of $US$11.53/wmt for limonite ore and US$29.24/wmt for saprolite ore. Details of the shipments in the first half of 2015 were announced on March 13, 2015, April 10, 2015, May 6, 2015, and July 13, 2015.