Mindoro Announces Reclassification From Tier 1 Issuer to Tier 2 Issuer

MANILA, PHILIPPINES--(Marketwired - Sept. 9, 2016) - Mindoro Resources Ltd. (TSX VENTURE:MIO) (FRANKFURT:WKN 906167) ("Mindoro" or the "Company") announces that it has received notification from the TSX Venture Exchange (the "TSX-V") of the Company's reclassification from a Tier 1 Issuer to a Tier 2 Issuer of the TSX-V. This reclassification took effect on September 2, 2016.

The Company's securities remain suspended from trading on the TSX-V as a result of the Company's failure to pay its 2016 Annual Sustaining Fees. The delay in payment of these fees is due to the pending submission of required documents to the TSX-V pertaining to compliance with TSX-V Policy 3.1, Directors, Officers, Other Insiders & Personnel and Corporate Governance. The Company is currently working on said compliance documentation as well as the other requirements to enable the Company's securities to resume trading on the TSX-V.

Despite such suspension, the Company is still compliant with the timely filing of its Financial Statements and other continuous disclosure requirements, including the holding of its Annual & Special Meeting of Shareholders scheduled for September 12, 2016.

About Mindoro

Mindoro is a Tier 2 issuer trading on the TSX Venture Exchange (MIO) and Frankfurt Stock Exchange (WKN 906167). Mindoro 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.