Mindoro JV Completes Large-Scale Drill Program at the Agata Nickel Laterite Project; Updated Resource Model Expected in Q3/2015 - Seite 2

A step-out drill program consisting of 79 holes (totalling 899.3 metres) was also completed with positive results. A total of 78 out of 79 holes drilled in the southwest, central and northeast areas surrounding the current Agata mining area intercepted limonite and saprolite ore with nickel grades above 0.8%. Approximately 22 holes had intercepts ranging from 10 to 24 metres of nickel-rich horizons with grades equal to or greater than 1.3%. The maximum iron grade recorded from the step-out holes was 54%. These results will be incorporated into the updated NI43-101 report and may expand the current resources at the project.

A drillhole location map and full table of results are available as PDF links to this news release at www.mindoro.com.

Qualified Person and Quality Assurance/Quality Control (QA/QC)

Mike Bue, Bsc. Eng, M.Eng, P.Eng, Technical Advisor and Project Advisory Group member of TVI and a member of the Professional Engineers of Ontario and Canadian Institute of Mining and Metallurgy, is the qualified person under NI43-101 who has approved the technical information in this news release.

Core samples are analyzed in the AMVI-operated Agata mine laboratory using XRF and Four-Acid Digestion techniques. Standard QA/QC procedures are implemented in core handling and sampling at Agata. Quality control materials inserted into sample dispatch include third party purchased Certified Reference Materials for laterite ore, coarse duplicates and blanks. Assay results of QA/QC materials are strictly monitored and re-analysis of the complete batch of samples is carried out when anomalous assay results are noted.

About the Agata DSO Project

AMVI is a joint venture company in which Mindoro holds a 40% interest and TVI Resource Development (Phils.), Inc. ("TVIRD") holds a 60% interest and is the operator.

The Agata DSO 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 DSO 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.