Mr. Ronald Shorr reports

MAUDORE MINERALS CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT FOR APPROXIMATELY $950,000 @ $8.60 PER SHARE

Maudore Minerals Ltd. has closed the second tranche of the private placement financing announced June 28, 2011, of 110,914 units for gross proceeds of approximately $954,000. As the company closed the first tranche of the private placement on Aug. 5, 2011, for over $2,046,000, this second closing completes a $3-million bought deal announced June 28.

Each unit comprises one common share of the company, issued as a flow-through share and one-half of one common share purchase warrant, with each whole common share purchase warrant, exercisable at $8.60 per share for a period of 18 months, expiring Feb. 18, 2013. The price per unit of $8.60 represented a premium of approximately 83 per cent to Maudore's Aug. 18, 2011, closing price on the TSX Venture Exchange. The company paid a commission of 5 per cent of the gross proceeds of the offering to Oberon. The flow-through shares and warrants will be subject to a four-month hold period, which will expire on Dec. 19, 2011.

Ron Shorr, chairman and chief executive officer, stated that, "Raising enough money to fund one of the industry's most aggressive drilling campaigns while suffering minimal dilution is quite a trick; but we have done it again and again."

After this closing, Maudore will have 24,847,044 shares outstanding, 27,869,892 on a fully diluted basis. Proceeds from the sale of these units will be used for exploration on the company's Comtois gold project and the associated land area.

We seek Safe Harbor.