EDMONTON, Alberta; January 14, 2009 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) today announced that it intends to raise up to CDN$600,000 through the sale of 4,000,000 units to qualified investors at a price of $0.15 per unit. Each unit will consist of one Common Share and one Common Share Purchase Warrant. Each Purchase Warrant entitles the holder to acquire one additional Common Share at a price of $0.30 per share for a period of two years after the close of the offering. The Company may pay finder's fees as allowed by the policies of the TSXV.

Net proceeds of the offering will be used for drilling the Company's American Tunnels gold project in the Philippines and for general working capital. The terms of the private placement are subject to regulatory approval. A news release will be made when the placement closes and shares are issued.

Mindoro also confirmed that a potential investment with the IFC (International Finance Corporation) disclosed on September 26, 2008, and expected to close on or about October 31, 2008, did not proceed due to the unexpected and severe market conditions at that time.