Mindoro Resources Ltd

completed

IFC released the original SPI in September 24, 2008. The project was not submitted to the IFC Board as exploration activities ceased due to the global financial crisis. In April 2010, the company restarted exploration and IFC undertook its second review. This SPI updates the version previously disclosed (please see attached) and should be read in conjunction with it.Mindoro Resources Ltd (“Mindoro”, or the “Company”) objective is to build a successful exploration and mining company in the Philippines with focus on nickel, copper and gold. Mindoro’s primary asset is the 75% interest in the Agata nickel laterite deposit in the Agusan del Norte Region, Northern Mindanao Island. The Agata nickel prospect has the potential to become a sizeable nickel mine with resources possibly in excess of 100 million tons at comparatively attractive nickel grades. Agata has a NI 43-101 compliant measured and indicated resource of 36.5 million wet metric tonnes at 1.11% nickel (dry), containing 657 million pounds of nickel and 24 million pounds of cobalt. Mindoro also owns interests in gold, copper, and copper-gold prospects in the Surigao District, Batangas District on Luzon Island, and on Pan de Azucar Island.IFC equity investment will support Mindoro’s resource drilling, feasibility and other studies, and exploration activities for its nickel, copper and gold prospects.