MANILA, PHILIPPINES--(Marketwired - Feb. 29, 2016) - Mindoro Resources Ltd. (TSX VENTURE:MIO)(FRANKFURT:WKN 906167) ("Mindoro" or the "Company") is pleased to announce that, subject to the approval of the TSX Venture Exchange (the "Exchange"), Fabian B. Reyes has been appointed to the board of directors of the Company following the resignation of Aaron Principe as a director. The Company is also pleased to announce that, subject to the approval of the Exchange, Ms. Jeannette V. Gutierrez has been appointed to succeed Clayton Northey as the new CFO as well as the Corporate Secretary of the Company.

Mr. Fabian B. Reyes is a resident of Calgary, Alberta. During his stay in the Philippines, Mr. Reyes has handled executive positions as a Certified Public Accountant in both Government & Private Financial Institutions over a period of 26 years. He worked as a Trust Officer with Philippine Commercial Capital, Inc. and was a Bank Manager at the time of his retirement from the Development Bank of the Philippines. He completed his Bachelor's degree at the National College of Business and Arts and received his MBA degree from Jose Rizal University (Philippines). He is also active in his volunteer work as an Administrative Assistant at the Calgary Drop-In & Rehabilitation Center Society.

Ms. Jeannette V. Gutierrez is a Philippine-licensed Certified Public Accountant and has worked as an Associate Director at the Assurance & Advisory Business Services sector of Sycip Gorres Velayo & Co. (SGV & Co.), a member firm of Ernst & Young International from 2010 to 2014. She obtained her Bachelor of Science in Accountancy at the Rizal Technological University (Philippines) in 2009 where she graduated cum laude. She provides accounting and advisory services with her JVG Consulting firm and is a member in good standing with the Philippine Institute of Certified Public Accountants (PICPA) in the Philippines.

The Board of Directors of the Company would like to thank Mr. Principe for his services as a director and Mr. Northey for his invaluable contribution to the Company. The Company wishes them both the best in their future undertakings.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.