An anonymous director reports

MAUDORE MINERALS PROVIDES AN UPDATE ON ITS PROGRESS TOWARDS A REVISED CONSENSUAL RESTRUCTURING

Further to its press release of Jan. 10, 2014, Maudore Minerals Ltd. has provided information on its recent progress toward reaching a revised consensual restructuring of debts owed to FBC Holdings SARL.

As a result of the company not closing its previously announced rights offering, its cash position has been strained. FBC has therefore agreed to provide the company with bridge financing in the amount of $722,000 by allowing the company to access funds that were previously deposited in an interest escrow account established in favour of FBC. These funds, together with Maudore's existing funds, are expected to enable Maudore to finance its operations during the negotiation of the revised restructuring of its debts owed to FBC and its other major creditors.

The company is optimistic that such negotiation will be successfully concluded in a timely manner and that it will result in a more permanent financing solution to the company's financing needs being put into place; however, no assurances can be given regarding the timing or the outcome of such negotiation process.

We seek Safe Harbor.