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Re:   Press Releases - Thursday, February 19, 2009
      Mindoro Closes Private Placement;  Planning Underway to Drill
      American Tunnels
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EDMONTON, Alberta; February 19, 2009, Mindoro Resources Ltd. (TSXV:
MIO; Frankfurt: WKN 906167), reports that pursuant to a private
placement announced on January 14, 2009, the company has issued
3,105,233 units at a price of $0.15 per unit for gross proceeds of
$465,784.95.  Each unit consists of one common share and one common
share purchase warrant.  Each warrant allows the holder to purchase one
additional common share at a price of $0.30 for a period of two years
from the close of the offering.  The company paid finders fees of
$18,405 and 122,700 Agent's Warrants in connection with the investment.
Each Agent's Warrant is exercisable into one common share at a price of
$0.18 for two years.

Shares issued, including any shares issued pursuant to the exercise of
Purchase Warrants or Agent's Warrants, are subject to a four month hold
period. Proceeds from the placement will be used for drilling Mindoro's
American Tunnels gold and copper-gold prospect in the Philippines, and
for general working capital.

"At a time when many companies are going into hibernation mode, Mindoro
shareholders can look forward to active drilling campaigns on at least
three gold and copper-gold projects during 2009,"commented Tony Climie,
Mindoro's CEO. "In addition to our plans to carry out an initial drill
test at American Tunnels, joint venture partner Avocet is currently
drilling at the Kay Tanda gold project, and we anticipate that the
first drill program under the Gold Fields joint venture will commence
prior to the end of the first quarter".

An initial test of 6 to 8 drill holes totaling 1,200 to 1,500 meters is
planned at American Tunnels. The drill program is designed to test both
the near-surface epithermal gold mineralization and the underlying
porphyry copper-gold target. The drilling will commence on a window of
exposed mineralization, where artisanal miners are operating, and then
extend along strike to test below what is assumed to be shallow cover.
Bids for the drill program are being put out for tender and Mindoro
anticipates commencing the drill program within the next four to six
weeks.

GOLD - COPPER MINERALIZATION ON THE AGATA PROJECT 

American Tunnels is a small erosional window through ultra-mafic cap
rocks within an extensive, six kilometre trend of strong IP
chargeability anomalies associated with extensive alteration,
geochemical anomalies, and abundant gold and copper-gold showings.
There are over 100 shallow artisanal mines and workings within the
trend, but mineralization is mostly obscured by ultra-mafic cap rock of
variable thickness. Where the mineralization is exposed, younger
epithermal gold mineralization is telescoped into porphyry copper-gold
related mineralization. Uniquely then, the drilling is targeting both
epithermal gold and porphyry copper-gold mineralization. To fully
explore and evaluate the large and highly prospective mineralization
trend at Agata will likely require several years of drilling campaigns.

ABOUT AMERICAN TUNNELS

Epithermal Gold Target

The American Tunnels area has a long and continuing history of small
scale, artisanal gold mining, which peaked with about 3000 miners in
the mid 1980s. The artisanal miners are mining gold from a honeycombing
of shallow (5 to 20 meters) underground workings, estimated to total
more than a kilometer in extent, within an area of about 200 meters by
225 meters at American Tunnels. Free gold is also present in streams
draining ultramafic cap rocks several hundred meters north of American
Tunnels. There are dozens of artisanal gold workings within other
erosional windows to the south. 

The miners follow narrow high-grade veins, stock-works and
fracture-filled zones near the top of an intrusive complex. Given the
primitive mining and low-recovery processing methods, break-even is
about 5 grams per tonne (g/t) gold- a general rule of thumb in Mindanao
at current gold prices. Bonanza gold zones were not unusual during the
high-grading in the 1980's and 1990's, and are still encountered.
Mindoro's underground sampling was restricted to wall rock in mined-out
areas and does not reflect the mineralization grades. It has not been
possible to sample working faces due to their inaccessibility and
dangerous conditions.

Small scale miners provided some grade information, of varying degrees
of reliability, from more recent workings. Unfortunately, most
information has been lost for ever. Recovered gold grades were
reportedly in a wide range from 2 g/t gold to as high as plus 1,000 g/t
gold.

Porphyry Copper-Gold Target

In the past year small scale miners were actively mining high-grade
copper from shallow workings over an area of about 150 m by 50 m at
American Tunnels. These were mined by manual methods and ore grading 5
percent to 15 percent copper was sent by local buyers to China for
processing. Recently, lower copper prices have terminated the copper
mining; gold workings are still active.

American Tunnels is characterized by a chargeability anomaly, extending
over 800 meters by 300 meters, with associated resistivity and magnetic
anomalies. As reported on November 17, 2008, extensive underground
sampling of the copper workings gave high copper values, associated in
places with high gold and molybdenum values. Maps and a cross section
accompanied this news release. Mineralization is at the top of
multi-phase intrusives, on the cusp of the chargeability anomaly, and
is interpreted as a high-grade, late-stage concentration at the upper
contact of the intrusive stocks and dykes, and derived from porphyry
copper-gold mineralization below. American Tunnels is in the center of
a six kilometer trend of chargeability anomalies and at a point where
the chargeability is near-surface, and actually daylights.

Petrology indicates mineralization is principally within late,
more-fractionated monzonite phases of a syenite, monzonite,
monzodiorite and diorite intrusive complex of dykes, sills, and small
stocks intruding ultramafic rocks. Mineralization is associated with
complex alteration assemblages of chlorite, epidote, actinolite,
biotite, sericite, magnetite and albite. Copper minerals are
chalcopyrite and bornite. These features, as well as the high
molybdenum values, are consistent with a porphyry copper-gold setting.

The American Tunnels is an untested high-priority drill target for both
epithermal gold, and for porphyry copper-gold mineralization. The
extent of alteration, abundance and strength of copper-gold showings,
and of the associated IP anomalies, indicate a source of considerable
potential interest. The currently planned program is an initial drill
test only of a large target area.

Tony Climie, P.Geol, is the Qualified Person responsible for monitoring
the supervision and quality control of Mindoro's programs and who has
reviewed and verified the technical information contained in this news
release.

ABOUT MINDORO

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO)
and the Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on
copper-gold and nickel exploration in the Philippines with a strategy
of advancing early stage opportunities to production or joint venture.
Mindoro has NI 43-101 resource estimates on its Agata North
nickel-cobalt project and on both its Lobo (SWB) and Archangel (Kay
Tanda) gold-silver projects. Mindoro has identified 22 porphyry
copper-gold prospects and has a Memorandum of Understanding with Avocet
Mining and a Letter of Agreement with Gold Fields covering its Batangas
projects.

Mindoro is well positioned to capitalize on the global demand for gold
in 2009 with plans underway to drill the Kay Tanda and Lobo gold
projects, funded by Avocet and Gold Fields, and drill the American
Tunnels gold /copper-gold project. Additional 2009 objectives include
finalizing one to two additional joint venture arrangements on
Mindoro's porphyry copper-gold prospects at Pan de Azucar and Surigao
and identifying a suitable partner to fund development of the
significant Agata North nickel resource.

For further information, contact:

INVESTOR RELATIONS - CANADA
 
Mindoro Resources Ltd.
Penny Gould, President: penny@mindoro.com
Tel: 780.413.8187 or Toll Free: 1.877.413.8187
www.mindoro.com
 
Renmark Financial Communications Inc.
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Jason Roy: jroy@renmarkfinancial.com
Tel: 514.939.3989
www.renmarkfinancial.com
 
INVESTOR RELATIONS - EUROPE
Robert Sarcher: robert@mindoro.com
Tel. 49 821 6089051

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

This release may contain forward-looking statements including
management's assessments of future plans and operations, and
expectations of future production. These statements are based on
current expectations that involve a number of risks and uncertainties,
which could cause actual results to differ materially from those
anticipated.  These risks include, but are not limited to, the risks
associated with the mining and exploration industry (e.g. operational
risks in development, exploration and production; delays or changes in
plans with respect to exploration or development projects or capital
expenditures; the uncertainty of reserve estimates; the uncertainty of
estimates and projections relating to production and the uncertainty of
the availability of capital). The assumptions used in the preparation
of such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.

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Copyright (c) 2009 MINDORO RESOURCES LTD. (MIO)  All rights reserved.
For more information visit our website at http://www.mindoro.com/ or
send mailto:info@mindoro.com
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