Medoro Obtains Receipt for Final Prospectus

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

TORONTO, Dec. 8 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS) announced that the Ontario Securities Commission has issued a receipt for Medoro's final short form prospectus dated December 4, 2009 qualifying the distribution of 128,700,000 units issuable upon the exercise or deemed exercise of 128,700,000 outstanding special warrants of Medoro. The special warrants were issued on a private placement basis on November 3, 2009 at a price of $0.80 per special warrant. Each unit is comprised of one common share of Medoro and one-half of one common share purchase warrant, with each whole share purchase warrant being exercisable to acquire one common share of Medoro at a price of $1.25 until November 3, 2011. Pursuant to the terms of the special warrant indenture governing the special warrants, all of the outstanding special warrants will be deemed to be exercised without any further action by the holders thereof immediately prior to 5:00 p.m. (Toronto time) on Monday, December 14, 2009, being five business days after the date of the receipt.

About Medoro Resources Ltd.

Medoro Resources Ltd. is a gold exploration and development company focused on acquiring gold properties of merit to bring to production, with a primary emphasis on Colombia. The Company owns the rights to interests in the Zona Alta in the Marmato region, located in Colombia, and recently announced the execution of: (i) a non-binding letter of intent to acquire all of the issued and outstanding common shares of Mineros Nacionales S.A.; and (ii) a non-binding letter of intent to acquire the securities of Colombia Gold plc, each of which has properties located in the Marmato District of Colombia. Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela and interests in other gold exploration areas outside of South America. Additional information on Medoro Resources Ltd. can be found by reviewing the Company's profile on SEDAR at www.sedar.com.

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release is not an offer of securities for sale into the United States or Canada. No offering of securities shall be made in the United States or Canada except pursuant to registration under the US Securities Act of 1933, as amended, or an exemption therefrom.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements are detailed from time to time in the company's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The company has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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

%SEDAR: 00020446E

SOURCE MEDORO RESOURCES LIMITED

For further information: For further information: John Hick, Chief Executive Officer and President; Peter Volk, General Counsel & Secretary, (416) 603-4653

Organization Profile

MEDORO RESOURCES LIMITED

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