The Definitive Feasibility Study (DFS) on Mundoro Mining"s Maoling gold project is finalizing the process design and calculating preliminary costing under the direction of Ausenco which has been appointed project manager.

Ausenco has been working with Golder Associates (engaged for resource modelling and estimation, mine and tailings facility design, hydrology and geotechnical studies) and Sinosphere Corp (environmental management, community engagement and project permitting).

Recently, Mundoro completed a resource and reserve verification report in compliance with Chinese regulations by a government approved institution. The Chinese feasibility study, being prepared by China Nonferrous Engineering and Research Institute (ENFI) is moving forward along with the work completed by Ausenco on the DFS. It is anticipated Ausenco will have the final DFS report completed for mid-2007.

Golder is completing the mine design and optimizing layouts for the tailings impoundment site, water dam and waste rock dumps. The mine design is based on the updated, combined measured and indicated resources of 4.8 million ounces of gold reported in February. This is 1 million ounces of gold more than were available for consideration in the prefeasibility study.

Inferred resources are not allowed to be used for feasibility work., however, the mine plan is being designed to accommodate for further expansion as more of Moaling's inferred resources of 4.4 million ounces from Zones 1 and 4, together with any additional mineralized material outlined by future exploration activities, are upgraded to the measured and indicated Resource categories.

Thus far, two deposits that crop out at surface have been outlined at Maoling in which disseminated, free-milling gold mineralization occurs within a sequence of metasedimentary rocks. A prefeasibility study completed in June last year demonstrated the economic viability of developing a large-scale open-pit mine on the Zone 1 orebody to produce an average of 328,000 ounces/year of gold for eight years.

Pursuant to the terms of engagement as the company's exclusive debt advisors with respect to financing the development of Maoling, Soc Générale Corporate & Investment Banking has selected SRK Engineering as independent engineer.

Mundoro has been developing a comprehensive community development program in the area in Liaoning Province , China .

This is to complement existing efforts within the community and region where Maoling is located by facilitating further development of local infrastructure and economic advancement. The rural environment around Maoling has basic infrastructure such as paved roads, grid-connected electrical service and communications. Mundoro believes that it can provide further development in a variety of areas including basic sanitation, the provision of fresh water, local medical service improvements, as well as assistance in scholastic and professional development. The value, scale and feasibility of Mundoro's sustainable development efforts will be determined in such a way that individual programs can be implemented at appropriate stages of Maoling's development. Liaoning Tianli Mining Co (Tianli) is the Sino-Foreign Joint Venture company operating the Maoling project.

The joint venture partner is Liaoning Aidi Resources Co (Aidi), the corporate arm of the Liaoning Geology and Exploration Bureau. Mundoro Mining has a 79% interest in the project. www.mundoro.com

News sourced from International Mining Project News - www.im-mining.com