Medoro intersects 180.0 metres of 1.041 g/t Au and 201.63 metres of 0.818 g/t
Au at its Marmato Project in Colombia

Further good gold grades over significant widths continue to confirm the resource potential at Marmato

TORONTO, July 27 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS) is pleased to announce drill results from a further 30 drill holes at its exploration and in-fill drilling program at the Marmato Project in Colombia. These results include the longest intersection widths reported to date and continue to provide further confidence in Medoro's geological resource model. These drill holes are part of the ongoing 90,000 metre drilling program, which is aimed at expanding and upgrading the current measured and indicated gold resource estimate of 7.5 million ounces, and the additional 2.2 million ounce inferred resource estimate.(1)

Highlighted intersections include the following holes:

    
    -------------------------------------------------------------------------
                     From          To     Intersection    Grade      Grade
    Drill Hole     (metres)     (metres)    (metres)     g/t Au     g/t Ag
    -------------------------------------------------------------------------
    MT-1214-A       163.00       343.00       180.0       1.041       4.0
    -------------------------------------------------------------------------
    MT-1239-A       451.50       549.95       98.45       1.215       5.3
    -------------------------------------------------------------------------
    MT-1247         130.55       244.00      113.45       0.788       3.6
    -------------------------------------------------------------------------
    MT-1248          21.00       117.08       96.08       1.306       8.6
    -------------------------------------------------------------------------
    MT-1249         126.95       328.58      201.63       0.818       8.7
    -------------------------------------------------------------------------
    

All of the above holes were planned as either in-fill holes or step-out holes and were drilled from surface in the Zona Alta and Echandia areas of the Marmato Project.

John Hick, President and CEO of Medoro, commented: "We are experiencing consistently good results from this drilling program, which continue to confirm our geological model. The gold zone is open to the southeast and the northwest and to depth, and we look forward to further expanding the resources in these areas as the drilling program progresses. The underground part of the program has now started with one rig, and another three rigs will be added in August. This will enable us to start drilling previously inaccessible areas and to more efficiently drill deeper areas of the deposit which is open to depth."

This drilling program commenced in January 2010 and is scheduled to finish in mid-2011. The drilling program will include both surface and underground drilling. There are now 10 drill rigs in operation at surface, plus one more underground. Another three underground drill rigs are scheduled to arrive at site in August, which will bring the total number of rigs to 14.

The Marmato Project is one gold deposit comprised of the three contiguous license areas of Zona Alta, Echandia and Zona Baja, which cover 1,198 hectares in Caldas, Colombia. The Marmato Project currently has a measured and indicated mineral resource of approximately 7.5 million ounces of gold in a total of approximately 245 million tonnes of material with an average grade of 0.95 g/t Au, and an additional inferred resource of approximately 2.2 million ounces of gold in a total of approximately 76 million tonnes of material with an average grade of 0.92 g/t Au, plus additional silver resources, all as set out in the NI 43-101 technical report(1) in respect of the Marmato Project resource estimate, which was filed on SEDAR on April 22, 2010 (the "Technical Report"; see the Company's press release dated April 22, 2010).

The table below sets out the full drilling results for the 30 drill holes referred to in this press release representing a total of 12,158 m of drilling. A total of 62 drill holes have been completed and reported on to date for a total of 20,866 m of drilling. All of the results to date, together with a map showing the locations of the drill holes, are available on the Company's website at www.medororesources.com.

The total number of metres drilled to date is 30,037.93 m in 80 holes, including twin holes, 8 holes for which the Company is awaiting assay results and the 10 drill holes which are currently in progress.

    
    -------------------------------------------------------------------------
                      Inclin-
              Azimuth ation    Total                           Gold   Silver
               (degr- (degr-   depth    From    To     Length  grade  grade
    Drill Hole  ees)   ees)  (metres) (metres)(metres)(metres) (g/t)   (g/t)
    -------------------------------------------------------------------------
    MT-1214-A    215   -50    450.18    92.00  136.00   44.00  0.928    7.3
    -------------------------------------------------------------------------
        and                            163.00  343.00  180.00  1.041    4.0
    -------------------------------------------------------------------------
        and                            350.61  402.45   51.84  3.705    6.5
    -------------------------------------------------------------------------
        and                            423.00  450.18   27.18  0.334    1.7
    -------------------------------------------------------------------------
    MT-1231      215   -60    692.00   224.20  255.88   31.68  1.544    4.0
    -------------------------------------------------------------------------
        and                            301.60  316.35   14.75  0.702    3.4
    -------------------------------------------------------------------------
        and                            373.26  422.55   49.29  0.553    3.5
    -------------------------------------------------------------------------
        and                            462.34  548.21   85.87  0.504    1.9
    -------------------------------------------------------------------------
        and                            579.62  587.35    7.73  0.311    2.8
    -------------------------------------------------------------------------
        and                            602.25  630.00   27.75  0.406    0.9
    -------------------------------------------------------------------------
    MT-1234      215   -60    586.74   150.50  162.28   11.78  0.448    4.8
    -------------------------------------------------------------------------
        and                            294.00  345.00   51.00  0.365    2.8
    -------------------------------------------------------------------------
        and                            490.42  502.00   11.58  1.277    4.5
    -------------------------------------------------------------------------
    MT-1235      215   -50     48.04       No significant intervals
    -------------------------------------------------------------------------
    MT-1235-A    215   -50    500.52   189.20  196.74    7.54  0.537    5.5
    -------------------------------------------------------------------------
        and                            331.95  371.00   39.05  0.932    3.3
    -------------------------------------------------------------------------
        and                            418.65  469.35   50.70  0.780    5.7
    -------------------------------------------------------------------------
        and                            493.00  500.00    7.00  0.483    2.4
    -------------------------------------------------------------------------
    MT-1236      215   -75    353.72    33.52   51.23   17.71  0.647    7.4
    -------------------------------------------------------------------------
        and                            313.00  324.30   11.30  0.487    1.0
    -------------------------------------------------------------------------
    MT-1237      215   -55    420.00   285.00  306.00   21.00  1.004    4.6
    -------------------------------------------------------------------------
    MT-1238      215   -45    457.48     0.00   66.00   66.00  1.009   10.5
    -------------------------------------------------------------------------
        and                            389.00  399.00   10.00  0.835    1.0
    -------------------------------------------------------------------------
    MT-1239      215   -60    153.31    26.30   37.90   11.60  0.812   12.2
    -------------------------------------------------------------------------
        and                             85.00   96.00   11.00  0.479   22.2
    -------------------------------------------------------------------------
        and                            137.55  143.70    6.15  0.619    8.5
    -------------------------------------------------------------------------
    MT-1239-A    215   -60    551.73    30.20   40.06    9.86  0.794    7.0
    -------------------------------------------------------------------------
        and                            416.65  438.00   21.35  0.818    3.5
    -------------------------------------------------------------------------
        and                            451.50  549.95   98.45  1.215    5.3
    -------------------------------------------------------------------------
    MT-1240      215   -45    425.50   259.90  280.63   20.73  0.906    4.5
    -------------------------------------------------------------------------
        and                            292.00  355.00   63.00  0.990    5.8
    -------------------------------------------------------------------------
        and                            371.50  410.00   38.50  0.388    1.1
    -------------------------------------------------------------------------
    MT-1241      215   -75    303.27    69.61   89.66   20.05  0.508    8.7
    -------------------------------------------------------------------------
        and                            268.00  282.00   14.00  0.303    1.0
    -------------------------------------------------------------------------
    MT-1242       35   -45    416.05   323.38  370.90   47.52  0.520    4.1
    -------------------------------------------------------------------------
    MT-1243      215   -55    542.50   127.72  144.00   16.28  0.898    4.5
    -------------------------------------------------------------------------
        and                            215.00  221.00    6.00  0.349    3.3
    -------------------------------------------------------------------------
        and                            229.00  235.00    6.00  0.684    2.0
    -------------------------------------------------------------------------
        and                            345.25  418.10   72.85  0.353    2.1
    -------------------------------------------------------------------------
        and                            444.50  501.00   56.50  0.463    5.3
    -------------------------------------------------------------------------
        and                            509.00  532.07   23.07  0.346    3.6
    -------------------------------------------------------------------------
    MT-1244      215   -50    418.49   115.00  124.00    9.00  0.929   40.1
    -------------------------------------------------------------------------
        and                            322.94  337.00   14.06  0.303    3.2
    -------------------------------------------------------------------------
        and                            346.50  354.00    7.50  1.021    5.5
    -------------------------------------------------------------------------
        and                            411.00  418.49    7.49  0.538    4.2
    -------------------------------------------------------------------------
    MT-1245      215   -70    423.50        No significant intervals
    -------------------------------------------------------------------------
    MT-1246       35   -60    450.04    94.83  107.00   12.17  0.688    7.1
    -------------------------------------------------------------------------
        and                            124.12  150.00   25.88  0.473    3.3
    -------------------------------------------------------------------------
        and                            286.51  335.00   48.49  0.541    3.1
    -------------------------------------------------------------------------
        and                            343.00  384.00   41.00  1.374    3.9
    -------------------------------------------------------------------------
        and                            406.80  445.00   38.20  0.873    3.3
    -------------------------------------------------------------------------
    MT-1247       35   -45    400.81    97.80  121.25   23.45  0.617    3.6
    -------------------------------------------------------------------------
        and                            130.55  244.00  113.45  0.788    3.6
    -------------------------------------------------------------------------
    MT-1248      215   -70    451.10     0.00    7.62    7.62  2.775    6.8
    -------------------------------------------------------------------------
        and                             21.00  117.08   96.08  1.306    8.6
    -------------------------------------------------------------------------
    MT-1249      215   -60    561.16     1.52   14.80   13.28  0.507    7.2
    -------------------------------------------------------------------------
        and                            108.00  117.10    9.10  0.898    3.0
    -------------------------------------------------------------------------
        and                            126.95  328.58  201.63  0.818    8.7
    -------------------------------------------------------------------------
        and                            418.00  429.00   11.00  0.408    2.5
    -------------------------------------------------------------------------
    MT-1250      215   -60    272.30        No significant intervals
    -------------------------------------------------------------------------
    MT-1251      215   -45    250.00   210.90  227.60   16.70  0.306    3.4
    -------------------------------------------------------------------------
    MT-1252      215   -45    400.20   235.50  241.80    6.30  1.112  146.4
    -------------------------------------------------------------------------
    MT-1253      215   -55    455.67    16.76   31.45   14.69  0.486    6.1
    -------------------------------------------------------------------------
    MT-1254      215   -50    304.14     0.00   10.66   10.66  0.915   13.6
    -------------------------------------------------------------------------
        and                            126.00  138.00   12.00  0.630    9.3
    -------------------------------------------------------------------------
        and                            186.00  277.00   91.00  0.805    5.6
    -------------------------------------------------------------------------
        and                            284.00  295.50   11.50  1.322    4.8
    -------------------------------------------------------------------------
    MT-1255      215   -45    400.81        No significant intervals
    -------------------------------------------------------------------------
    MT-1256      215   -60    410.30   157.00  164.38    7.38  1.123    6.7
    -------------------------------------------------------------------------
        and                            170.40  176.50    6.10  0.584    7.8
    -------------------------------------------------------------------------
        and                            199.60  210.00    9.40  0.329    3.0
    -------------------------------------------------------------------------
        and                            222.80  228.87    6.07  0.506    4.9
    -------------------------------------------------------------------------
        and                            287.70  305.45   17.75  0.589    2.3
    -------------------------------------------------------------------------
    MT-1257      215   -60    439.52    21.70   47.24   25.54  0.440   10.1
    -------------------------------------------------------------------------
        and                            107.65  124.00   16.35  0.348    6.6
    -------------------------------------------------------------------------
        and                            166.10  190.50   24.40  2.000    3.2
    -------------------------------------------------------------------------
        and                            196.80  216.90   20.10  0.529    2.1
    -------------------------------------------------------------------------
        and                            318.30  338.90   20.60  1.093    5.0
    -------------------------------------------------------------------------
    MT-1258      215   -75    251.46     0.00   15.24   15.24  1.936   39.3
    -------------------------------------------------------------------------
        and                            188.00  210.02   22.02  1.604   10.1
    -------------------------------------------------------------------------
        and                            220.00  240.00   20.00  0.498    3.1
    -------------------------------------------------------------------------
    MT-1259      215   -60    367.89    85.00   99.00   14.00  0.306    6.0
    -------------------------------------------------------------------------
        and                            125.00  153.00   28.00  0.463    3.9
    -------------------------------------------------------------------------
        and                            171.00  187.00   16.00  0.680    2.5
    -------------------------------------------------------------------------
        and                            256.00  287.00   31.00  2.025    9.2
    -------------------------------------------------------------------------
        and                            311.60  333.25   21.65  0.338    2.3
    -------------------------------------------------------------------------
        and                            343.60  352.12    8.52  0.752    7.1
    -------------------------------------------------------------------------
    

The drill holes were inclined at 45 to 70 degrees from horizontal and the intersection lengths do not represent the true widths. Sample lengths are normally 2.0 metres but may be varied for geological and recovery factors. Intersections were calculated using a cut-off grade of 0.10 g/t gold and no more than 6.0 metres of internal dilution, with no top cutting of grades applied. Assay results are reported in the table above a minimum average grade of 0.3 g/t gold. Voids from old mine workings were identified and assigned a zero grade.

About Medoro Resources Ltd.

Medoro Resources Ltd. is a gold exploration, development and mining company with a primary emphasis on Colombia. The Company operates the producing Mineros Nacionales gold mine located in Zona Baja at Marmato and is conducting an exploration and in-fill drilling program at its Marmato Project to upgrade and expand its gold resources there.

Medoro has signed an agreement with Gran Colombia Gold S.A. giving it a 5% carried interest in Frontino Gold Mines Limited (when acquired by Gran Colombia) and a right for one year from the closing of the acquisition to increase its interest in Frontino to 50%.

Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela where it is continuing its efforts to obtain an exploitation permit to allow development of these gold properties when circumstances in Venezuela allow. Medoro owns interests in gold exploration properties in Mali in respect of which it is seeking possible joint venture partners to further explore these properties.

Additional information on Medoro Resources Ltd. can be found on the Company's website at www.medororesources.com and by reviewing the Company's profile on SEDAR at www.sedar.com.

(1)Qualified Persons/Quality Assurance/Quality Control

Stewart D. Redwood, Senior Consulting Geologist to Medoro, is a qualified person as defined by National Instrument 43-101 and prepared or reviewed the preparation of the scientific and technical information in this press release in respect of the drilling results from the Marmato Project. Dr. Redwood is a Fellow of the Institute of Materials, Minerals and Mining (Number 47017), a professional association and designation recognised by the Canadian regulatory authorities. Dr. Redwood verified the data disclosed in this press release, including the sampling, analytical and test data underlying the information contained in this release. Verification included a review of the quality assurance and quality control samples, and review of the applicable assay databases and assay certificates.

Scott Wilson of Scott E. Wilson Consulting, Inc. of Englewood, Colorado prepared the Marmato Project resource estimates and also prepared the Technical Report, entitled "Technical Report Medoro Resources Ltd. Marmato Project, Department of Caldas, Republic of Colombia" dated March 5, 2010. Mr. Wilson is an independent qualified person as defined by NI 43-101. He is a Certified Professional Geologist and member of the American Institute of Professional Geologists (CPG No.10965) and a Registered Member (No.4025107) of the Society of Mining and Metallurgy and Exploration, Inc., a professional association and designation recognized by the Canadian regulatory authorities. For detailed information on the key assumptions, parameters and methods used to estimate the mineral resources, along with other information about the Marmato Project, please refer to the Technical Report.

Mr. Wilson verified the data disclosed in the Technical Report, including the sampling, analytical and test data underlying the information contained therein. Verification included a review and validation of the applicable assay databases, reviews of assay certificates and a review of check and replicate assays.

Sample Preparation, Assays, QA/QC

In the case of the drilling results referred to herein, the samples were prepared by Acme Analytical Laboratories Ltd (ISO 9001:2008) at their sample preparation facility in Medellin, Colombia, and were assayed at their laboratory in Santiago, Chile. Gold was assayed by fire assay with atomic absorption spectrophotometer ("AAS") finish. Samples over 10 g/t were assayed by fire assay with gravimetric finish. Silver was assayed by aqua regia digestion and AAS finish. Silver samples above 100 g/t were assayed by fire assay with gravimetric finish. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control.

In the case of the resource estimate and Technical Report by Scott E. Wilson Consulting Inc., the samples were prepared by Inspectorate America Corporation (ISO 9001:2000 and 9002:2004 certified) at sample preparation facilities in Medellin, Colombia, and Reno Nevada, and were assayed at their laboratories in Reno and Lima, Peru. Gold was assayed by fire assay with gravimetric or atomic absorption spectrophotometer ("AAS") finish. Silver was assayed by AAS finish or analyzed by ICP with a suite of multi-elements. Additional laboratories used were SGS Lakefield Research Ltd. in Medellin, Colombia (preparation) and Lima, Peru (analysis), and ALS Chemex in Reno, Nevada (analysis) using the same analytical methods. Blank, standard and duplicate samples were routinely inserted for quality assurance and quality control.

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Medoro and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medoro to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Medoro disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE MEDORO RESOURCES LIMITED

For further information: For further information: John Hick, President & CEO, (416) 603-4653; Linda Dorrington, Director, Investor Relations, (416) 603-4653

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