Mindoro Issues Incentive Stock Options

    EDMONTON, July 4 /CNW Telbec/ - Mindoro Resources Ltd. (TSXV: MIO;
Frankfurt: WKN 906167) today announced that incentive stock options have been
granted to directors, officers, advisory board members and employees of the
Company and the Company's Philippine subsidiary, MRL Gold Phils., Inc., to
purchase 2,395,000 common shares at an exercise price of $0.29 per share for a
five year term. Options will vest over one year with one half of the options
vesting in each six month period following the date of issue. The company
typically grants incentive options on an annual basis with the last general
grant to company personnel occurring on June 7, 2007. The grant of incentive
stock options provides long term incentive to the Company's key personnel and
further ensures that the interests of the Company's personnel are aligned with
the interests of the Company's shareholders.
    Options have also been granted to Accent Marketing Limited and
Argentuminvest GmbH to purchase 100,000 common shares each at an exercise
price of $0.29 per share for a two year term with one quarter of the options
vesting in each three month period following the date of issue. All grants are
subject to regulatory approval.


    Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and
the Frankfurt Stock Exchange (WKN 906167). Mindoro has initial 43-101
compliant resources on the Kay Tanda and SW Breccia gold-silver projects and
on the Agata nickel laterite project. The company has also identified
22 porphyry copper-gold prospects in the Philippines and is currently involved
in several advanced joint venture discussions.

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    This release may contain forward-looking statements including
management's assessments of future plans and operations, and expectations of
future production. These statements are based on current expectations that
involve a number of risks and uncertainties, which could cause actual results
to differ materially from those anticipated. These risks include, but are not
limited to, the risks associated with the mining and exploration industry
(e.g. operational risks in development, exploration and production; delays or
changes in plans with respect to exploration or development projects or
capital expenditures; the uncertainty of reserve estimates; the uncertainty of
estimates and projections relating to production). The assumptions used in the
preparation of such statements, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements.

For further information:

For further information: Investor Relations - Canada: Mindoro Resources
Ltd.: Penny Gould, President: penny@mindoro.com, (780) 413-8187, Toll Free:
1-877-413-8187, www.mindoro.com; Renmark Financial Communications Inc.:
Barbara Komorowski, bkomorowski@renmarkfinancial.com; Jason Roy,
jroy@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717,
www.renmarkfinancial.com; Investor Relations - Europe: Richard Mayr,
info@argentuminvest.com, Argentuminvest GmbH, +49.9421.785250, Fax:

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