Mr. Rob Garden reports

MINDORO ANNOUNCES BOARD AND MANAGEMENT CHANGES

Mindoro Resources Ltd. director and chief executive officer Tony Climie is retiring and resigning effective Sept. 1, 2014. The board has appointed Mindoro director and executive vice-president Penny Gould to succeed Mr. Climie as CEO.

Mr. Climie is stepping down from his leadership role with Mindoro, having successfully concluded the recent acquisition of an option agreement for an additional 25-per-cent interest in the Agata nickel laterite project, which, upon exercise, will bring Mindoro's interest to 40 per cent. He also led the company through to the commencement of the high-iron nickel laterite direct-shipping ore (DSO) operations, with the first shipment expected in the coming month.

During his tenure, in addition to the Agata nickel laterite project, Mr. Climie assembled and managed a large portfolio of gold and gold-copper prospects in the Philippines, leading to the definition of two gold resources in Batangas province. His early commitment to strong social and environmental programs, well before these were mandated by the government, established Mindoro as an industry leader and award winner in these fields.

Mr. Climie will continue to provide advisory services to the company as a consultant.

Chairman Rob Garden expressed his gratitude to Mr. Climie for his dedication and leadership over the past 18 years: "As one of the company's founders in 1996, Tony has played a pivotal role in ensuring the company's survival through many challenging years and ultimately leading Mindoro to its current transition, as it is poised to commence DSO operations on the high-iron nickel laterite resource that he discovered almost a decade ago. We are grateful for Tony's extensive contributions over the years and pleased that the company will continue to have access to his expertise in his advisory position. The board also welcomes Penny Gould as she moves from her current executive position into the role of CEO to oversee the completion of Mindoro's transition into a revenue-generating company."

Ms. Gould joined Mindoro in 1996 and served in a variety of executive positions over the next 16 years, including chief financial officer and president, with primary responsibility for establishing high standards of corporate governance, shareholder relations and financing. When Mindoro's head office relocated to Melbourne in 2011, Ms. Gould left the company but continued to provide corporate support on a consulting basis. With the return of the head office to Canada in 2013, Ms. Gould rejoined Mindoro as a director and executive vice-president.

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