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Press Releases

Apr 28, 2003
Increased Market Activity
At the request of the TSX Venture Exchange, Tony Climie, P.Geol, President of Mindoro Resources Ltd. ("Mindoro"), reports there are no material changes in the affairs of Mindoro that would account for the recent increased trading activity and rise in share price, other than the high gold values previously reported from trenching on Mindoro's Lobo Project, Philippines, and commencement of drilling on April 5, 2003 (see news releases dated April 8 and March 31, 2003).

Normal technical difficulties relating to the commencement of drilling on a new project, adapting to local drilling conditions, and a seasonal shortage of water, have been overcome, and drilling is now proceeding well. The first drill hole has been completed and the second hole is in progress. Samples are being analysed by McPhar Geoservices of Manila (ISO 9002 Accredited); results should be available in mid to late May and a news release will be issued at that time.

Drilling is focusing on the high-grade gold mineralization encountered by trenching in the SW Breccia Zone, and will extend to the many other epithermal gold targets on the Project, and then to the porphyry copper-gold targets in later drill programs.

Mindoro is a Tier One Company listed on the TSX Venture Exchange (symbol MIO). The Company is exploring for gold and gold-copper in the high-potential magmatic arcs of the Asia-Pacific Region and is presently focussed on six promising projects in the Philippines.

For further information, contact Penny Gould, Executive Vice President:
Phone: (1-780) 413-8187
Fax: (1-780) 426-2716

The TSX Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.

You can view the Next Press Releases item: Mon May 26, 2003, Initial Drill Results From Lobo Project

You can view the Previous Press Releases item: Tue Apr 8, 2003, High Grade Gold From Additional Lobo Trenching; Drilling Has Commenced

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