Marlowe Regulatory News (MRL)

9 Mar 2007 07:00

Medoro Resources Announces Initial Drilling Results

TORONTO, March 8 /CNW/ - Medoro Resources Ltd. announced today initial diamond drilling results from its Lo Increible gold properties in Venezuela. The Lo Increible properties are located in the El Callao mining district, a major gold production district in the Guyana Shield.

In total, results from 32 diamond drill holes were reported. The program was designed in part to provide more current drilling information to upgrade the historical resource to National Instrument 43-101 compliant resources as well as upgrade the classification of the resources, in terms of measured, indicated and inferred. Drilling confirmed the historical data in La Cruz where two sub-parallel shear-hosted mineralized bodies have been better defined. Mineralization remains open to the north-east and an upper zone has been intercepted to the south-west at La Sofia (holes No. LI06-012, LI06-013, LI06-014, LI06-015, and LI06-016) and El Tapon (holes No. LI06-037 and LI06-039). Highlights of this program include hole No. LI06-014 which encountered 48.6 metres grading 2.5 grams per tonne (g/t) and LI06-023 which intercepted 8.5 metres with a gold grade of 7.1 g/t.

Intervals exceeding 1.0 g/t Au for holes numbered are summarized below. La Cruz ------------------------------------------------------------------------- Hole No. From To Int. Au LI06- (m) (m) (m) (g/t) ------------------------------------------------------------------------- 002 121.4 125.0 3.7 9.3 004 126.1 132.7 6.7 4.9 005 79.0 82.5 3.5 7.0 006 117.5 124.1 6.6 3.3 008 30.5 35.0 4.5 8.6 and 97.0 98.5 1.5 10.0 010 105.0 109.0 4.0 2.8 and 111.65 115.6 4.0 3.1 011 3.0 5.0 2.0 7.8 018 26.0 31.0 5.0 2.4 and 84.0 98.0 14.0 1.8 020 165.3 166.4 1.1 9.5 023 126.1 134.5 8.5 7.1 028 142.1 157.0 15.0 2.5 033 261.3 266.0 4.7 4.0 ------------------------------------------------------------------------- Lengths approximate true width. Results are pending for holes 001, 017, 019, 021, 022, 024, 036, 039 and 040. No significant intercepts were recorded in holes 025, 026 and 032. ------------------------------------------------------------------------- La Sofia ------------------------------------------------------------------------- Hole No. From To Int. Au LI06- (m) (m) (m) (g/t) ------------------------------------------------------------------------- 013 136.5 148.0 11.5 1.2 014 105.4 154.0 48.6 2.5 015 131.0 166.0 35.0 5.0 016 45.0 53.0 8.0 5.6 31A 134.5 149.0 14.5 1.2 034 48.6 58.5 8.9 2.6 ------------------------------------------------------------------------- Lengths approximate true width.

District geology includes greenschist facies mafic volcanics, intermediate to felsic volcanoclastics and epiclastic sediments. In the Lo Increible properties the gold mineralization occurs as lode-gold shear-hosted quartz-carbonate veins. Mineralization is associated to the east-northeast to east trending Lo Increible shear, and it shares with the nearby Choco 10 mine similar lithologies, structural features and style.

Medoro has used Triad Laboratories in Venezuela as the primary laboratory. Split HQ core samples of 4 to 5 kg are crushed and pulverized to 250 grams. A 50 gram sample is split for fire assay analysis using AAS finish, and gravimetric finish if Au is greater than 2.0 g. A comprehensive quality control program, which includes blanks, standards duplicates and cross checks was employed. This QC program included the use of certified standard reference samples. The drill program has been conducted under the supervision of Henry M. Meixner, an independent contractor who has been retained by Medoro in connection with the drill program. Mr. Meixner is a "qualified person" for the purposes of National Instrument 43-101, and has verified the data disclosed in this news release.

Medoro Resources is a gold exploration and development company focussed on acquiring properties of merit for potential joint ventures with senior producers. The company acquired a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela. Additional information on Medoro Resources can be found by visiting the company's website at www.medororesources.com.

Henry M. Meixner, P. Geo., and an independent contractor of Medoro is a "qualified person" as defined under the AIM rules. This announcement has been prepared under Mr. Meixner's supervision.

For further information: Robert Doyle, Executive Vice President, (416) 603-4653, rdoyle(at)medororesources.com (MRL)