Mindoro Resources geophysical surveying over the Calo porphyry copper-gold prospect has defined an unusually large and intense Induced Polarization (IP) chargeability anomaly within a very favourable geological setting.

About 80% of the geophysical target is covered by younger volcanic ash and flows. However, near the western and eastern margins, erosional windows expose many low and high-sulphidation copper-gold showings and porphyry-related alteration and mineralization.

Calo is located within Mindoro's Batangas projects on Luzon Island in the Philippines, and is approximately 9kms south of Phelps Dodge's Taysan porphyry copper-gold deposit.

The Batangas projects cover a well-mineralized copper-gold belt and include a number of promising porphyry prospects, as well as the Kay Tanda epithermal gold-silver project, where resource delineation is continuing. Drilling at Calo was scheduled to start this month. Drilling work is being undertaken by United Philippines Drilling of Australia.

The geophysical survey was performed by Elliott Geophysics International Pty Ltd of Australia. Background chargeability values are in the range of 5-8 msecs. An area of at least 3km x 6km of greater than 30 msecs has been defined, which encompasses a cluster of at least four zones of greater than 60 msecs, aggregating 1.6 km x 5.5km. This includes values to as much as 100 msecs.

These chargeability values suggest large concentrations of metal sulphides below the younger cover volcanics, which geological evidence suggests are related to a cluster of porphyry copper-gold centers. The chargeability anomalies occur at the intersection of strong regional north to south, and north-east to south-west structural features. Magnetic data is currently being processed.

Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange and the Frankfurt Stock Exchange. In addition to the resource delineation being carried out at Kay Tanda, the company has identified 22 porphyry copper-gold prospects and a nickel laterite prospect in the Philippines and has an aggressive strategy of drilling multiple targets.