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Feb 03, 2005
Mindoro Appoints Chief Financial Officer and Issues Options
EDMONTON, AB; February 3, 2005 -- Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: OLM) today announced the appointment of Penny Gould as Chief Financial Officer of the Company. Ms. Gould, who has been with Mindoro since 1996, will continue in her role of Executive Vice President, a position she has held since 1999.

"Mindoro has matured significantly as a public company during the last 12 months. To keep meeting the highest standards of corporate governance, the Board of Directors recognized the need to clearly identify the person responsible for Mindoro's financial affairs. Penny has handled this function since she became Executive Vice President and this appointment affirms the Board's confidence in her abilities," said Tony Climie, President of Mindoro.

The Company also reports that options have been granted to officers and employees of the Company to purchase 800,000 common shares at an exercise price of $0.28 per share for a five year term. Options with the same terms have also been granted to one officer and employees of Mindoro's Philippine subsidiary, MRL Gold Phils. Inc., to purchase 315,000 common shares. All grants are subject to regulatory approval.

Mindoro is a Tier One Company trading on the TSX Venture Exchange (TSXV: MIO) and the Frankfurt Stock Exchange (OLM). The Company is exploring for gold and gold-copper in the prolifically mineralized magmatic arcs of the Asia-Pacific Region. Mindoro has been active in the Philippines since 1996 and is presently focused 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.

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