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Press Releases

Apr 29, 2004
High Values in Trenches from Archangel Project, Philippines
- New trench results from South Lumbangan area
- Trench 1: 11 m at 1.5% copper and 4% zinc (porphyry zone)
- Trench 2: 20 m at 2.66 g/t gold and 45 g/t silver (gold zone)

Mindoro Resources Ltd. (MIO:TSX Venture) is pleased to advise high values from trenching in the South Lumbangan area, Archangel Project, Philippines. South Lumbangan is part of the Archangel copper-gold system which has been traced over 5 km by 1 km plus, and is open in three directions. Epithermal gold-silver mineralization occurs at high elevations, and related porphyry copper-related alteration / mineralization is exposed at lower elevations.

Trench 1 (partial results were reported in a March 30, 2004 release) gave 11 meters (m) of 1.5% copper, 5.2 grams per tonne (g/t) silver and 4.0% zinc. The zone is associated with quartz-stockworking / sericite alteration and is believed to represent "leakage" from an underlying porphyry-copper system, exposed elsewhere at Archangel.

Trench 2, 350 m to the west of Trench 1, gave 20 m of 2.66 g/t gold and 46 g/t silver. This mineralization is part of an epithermal, gold quartz-stockwork system that is associated with gold-in-soil anomalies that extend over at least 4 by 1 km.

Gold-silver mineralization has been traced by geological mapping and reconnaissance rock sampling, from the Pulang Lupa area (trench channel sample of 15 m of 3.18 g/t gold and 63.54 g/t silver), through the Kay Tanda resource area (inferred resource of 370,000 ounces gold and 1,300,000 ounces silver), to South Lumbangan (trench channel sample above gave 20 m of 2.66 g/t gold and 46 g/t silver), a distance of 2 km. Mineralization appears to be open to the northeast and northwest. At the Marita area, 3 km northeast of Pulang Lupa, a quartz stockworked float boulder assayed 9.92 g/t gold.

Exploration work is being carried out under the supervision of Tony Climie, P.Geol., President of Mindoro, and a qualified person as required by National Policy 43-101.

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. Mindoro has been active in the Philippines for seven years and is presently focussed on six promising projects in politically stable jurisdictions of the Philippines.

For further information, contact:

Head Office

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

Investor Relations

Marshall Farris, Ascenta Capital Partners Inc.
Phone:(1-604) 628-5800
Toll Free: 1-866-684-4209

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 10, 2004, Shares Issued to Minimax

You can view the Previous Press Releases item: Mon Apr 19, 2004, Update from Lobo Project, Phillipines: New ore-shoot discovered at Lobo - Gold resource study commissioned for SW Breccia

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