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Press Releases

Sep 23, 2003
Mindoro Receives $274,800 From Purchase Warrants
Tony Climie, P.Geol., President of Mindoro Resources Ltd. ("Mindoro") is pleased to announce that Mindoro has received gross proceeds of $274,800 from the exercise of 1,832,000 common share purchase warrants ("the Warrants"). 2,114,900 Warrants, originally issued on September 9, 2002, entitled the holder to purchase one common share for $0.15 until September 9, 2003, at which time the price increased to $0.30 until September 9, 2004, after which time any unexercised Warrants will expire. Pursuant to the exercise of the Warrants, 1,832,000 common shares have been issued, for a total of 29,973,757 common shares issued and outstanding.

This addition of cash into Mindoro's treasury, combined with an innovative drill-for-equity deal with East West Drilling Ltd. (see release of September 12, 2003), will allow Mindoro to further pursue an aggressive drill program on its Lobo Project, Philippines, where high grade gold drill intersections were previously reported (see releases of May 26, June 19, and July 24, 2003).

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: Wed Sep 24, 2003, Further Promising Gold Intersections From SW-Breccia

You can view the Previous Press Releases item: Mon Sep 22, 2003, Mindoro Resources Ltd. and Panoro Minerals Ltd. Companies join forces to explore emerging Surigao Gold/Copper Porphyry Belt, Philippines

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