Mindoro Resources has announced its technical reports for the scoping and pre-feasibility studies on the first two stages of its Agata nickel-laterite project in the Surigao District on the Philippines’ Mindanao Island.

The NI 43-101 mineral resource estimates for the project include a measured and indicated total of 42.76 million tonnes at 1.01% nickel, for 430,000 tonnes of contained nickel.

In November 2011 the company announced that scoping and pre-feasibility studies at the project confirmed it can supply a low-cost high-value mine with a 20 year life.

The project is on the Surigao peninsula at Mindanao in the Philippines where the company hopes to produce a high-value upgraded nickel concentrate. It has a measured resource of 42.7 million tonnes defined in a nickel laterite belt which the company says has the potential to become a world-class resource base.

The company believes the Agata project’s location will place it in a strong position to become a major supplier to China’s rapidly growing stainless steel market.

Based on the study results, Mindoro has prioritized the next steps to progress the project and begin construction of infrastructure needed to begin production. It will also drill further targets to increase the resource base. The company has engaged a financial advisor to assist it in securing a strategic partner to finance these goals. The company already has an environmental compliance certificate (ECC) to annually produce up to 2 million dry metric tonnes (DMT) of laterite direct shipping ore from Agata.

In other news, in early December Mindoro announced the results from the first three drill holes at its Archangel gold project. The shallow drill holes intersected mineralization of 26.7 metres @ 2.19 grams/tonne gold including 6.7 metres @ 7.7 grams/tonne gold.

Mindoro has also launched private placement offers to raise money to advance its Archangel and Lobo gold projects.

www.mindoro.com

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