Mindoro's Joint Venture Firm, Agata Mining Ventures, Inc. (AMVI) To Submit Proof of Compliance in Response to DENR Audit Results

MANILA, PHILIPPINES--(Marketwired - Sept. 29, 2016) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (FRANKFURT:WKN 906167) ("Mindoro" or the "Company") announces that Agata Mining Ventures Incorporated ("AMVI"), a company in which Mindoro has a direct and beneficial 40% interest has been listed among those 20 mining firms "recommended for suspension" in a press conference held by the Philippine Department of Environment and Natural Resources ("DENR") last September 27, 2016. The announcement was the result of two months nationwide audit of 41 metallic mines, 10 of which have been earlier suspended while the remaining 11 metal firms were also found with infractions but "not compelling enough" to warrant suspension. These 41 mining companies were assessed on the basis of laws related to mine environmental management, safety and health, social development, mining tenement and compliance with the Clean Air, Clean Water, Hazardous Waste and Solid Waste Acts.

The 20 affected mining firms that are "recommended for suspension" will be issued a show-cause order and a copy of the audit report and will be given seven days to explain in writing why their operations should not be halted. As of press time, AMVI has not yet received the formal order nor the copy of the audit report.

AMVI has initiated review of the three alleged infractions that may warrant suspension and it is assured that the alleged violations have no bases and is ready to submit proof of compliance upon receipt of the show cause order. AMVI has also manifested that there will be no disruption in its operations pending receipt of the order and audit report.

TVI Resource Development (Phils.), Inc. ("TVIRD"), the company that holds a 60% interest and is the operator of AMVI has issued in an earlier press release that it supports the DENR's efforts to ensure that all mining in the Philippines is carried out to the highest environmental and social standards as this is something that TVIRD has worked hard to achieve every day and has been consistently recognized for by industry regulatory bodies, including the DENR.

About Mindoro

Mindoro is a Tier 2 issuer trading on the TSX Venture Exchange (MIO) and Frankfurt Stock Exchange (WKN 906167). Mindoro has joint venture agreements with TVI Resource Development (Phils.), Inc. (TVIRD) relating to the Agata & Pan de Azucar mining projects in the Mindanao and Visayas regions, respectively. It has a direct and beneficial 40% interest in the Agata Mining Joint Venture and direct and beneficial 75% interest in the Agata Processing Joint Venture with an option to acquire an additional 25% interest in the Agata Processing Joint Venture. Mindoro also holds 75% interest in the Pan de Azucar Sulphur-Copper-Gold Project, Iloilo City. TVIRD has the option to earn up to 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. As of October 16, 2015, a PMRC compliant DFS was completed by Agata Processing Inc., which would result in TVIRD earning a total of 60% interest in API shares. Mindoro also holds 75% interest and an option to acquire additional 25% interest in the Tapian San Francisco Copper-Gold Project, Mindanao.