Marlowe Regulatory News (MRL)

21 Sep 2007 07:00

Medoro Resources Announces Drilling Results

TORONTO, Sept. 20 /CNW/ - Medoro Resources Ltd. announced today further diamond drilling results from its Lo Increible gold properties located in the El Callao mining district in Venezuela. In total, results from 96 diamond drill holes were reported from the La Cruz, La Sofia and El Tapon zones.

Highlights include Hole No.06-046 at El Tapon which intersected 21.5 metres at a gold grade of 6.4 grams per tonne (g/t). At La Cruz, Hole No.07-84C encountered 23.2 metres at surface grading 5.9 g/t gold and Hole No.07-056 included 21.5 metres with an average gold grade of 5.2 metres, starting at 28 metres from surface. In the La Sofia area, Hole No.07-100 intersected 19.6 metres with a gold grade of 4.9 g/t.

The program, consisting of 55 holes at La Cruz, 26 holes at La Sofia and 15 holes at El Tapon, was designed in part to provide more current drilling information to bring the historically reported resources up to the standard required by National Instrument 43-101 as well as to upgrade the classification of the resources. Drilling executed in La Cruz, La Sofia and El Tapon during the period February to August 2007 confirmed two main zones of mineralization.

A review of structural data for both the La Sofia and El Tapon zones is currently in progress, aimed at obtaining a better understanding of the geological control of high grade shoots which may be located at fold hinges and/or at shear intersections, as observed in some nearby deposits such as Gold Field's Choco 10 deposit.

The company currently has two drill rigs on the property, of which one is dedicated to upgrading the resources at the La Cruz, La Sofia and El Tapon zones. The second rig is evaluating three additional prospects, among others, that have been identified within Lo Increible 4A and 4B - Tibaire, Mina A, and La Loca.

Significant intervals (exceeding 10 gram-metres) are summarized below. La Cruz ------------------------------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) ------------------------------------------------------------------------- LI06-001 53.0 67.5 14.5 4.3 LI06-003 116.5 129.5 13.0 1.4 LI06-007 116.5 129.5 13.0 1.4 LI06-009 116.5 122.0 5.5 2.1 LI06-017 4.5 9.0 4.5 1.8 and 54.0 57.0 3.0 2.4 and 61.0 66.7 5.7 3.8 LI06-019 94.0 95.5 1.5 7.3 and 175.3 189.5 14.3 2.9 and 250.5 264.0 13.5 1.7 LI06-021 127.0 142.2 15.2 5.5 LI06-022 150.0 153.0 3.1 4.9 LI06-041 161.0 163.5 2.5 5.6 LI07-055 36.0 53.0 17.0 2.1 LI07-056 28.0 49.5 21.5 5.2 LI07-059 52.5 60.0 7.5 3.0 LI07-060 0 3.0 3.0 5.2 and 9.0 24.5 15.5 3.7 LI07-062 36.9 41.0 4.1 3.2 and 103.5 109.0 5.5 3.3 LI07-064 5.0 21.9 16.9 3.5 LI07-067 36.9 41.8 4.9 5.2 and 58.0 63.0 5.0 2.4 and 80.0 91.4 11.4 1.7 LI07-069 62.0 70.0 8.0 6.6 LI07-073 42.0 47.3 5.3 3.5 LI07-079 0 9.0 9.0 3.0 and 128.8 132.0 3.2 5.0 LI07-084C 0 23.2 23.2 5.9 LI07-086 25.0 28.0 3.0 4.2 LI07-090 62.3 67.5 5.2 2.8 and 133.0 138.2 5.2 4.9 LI07-092 27.0 37.7 10.7 1.6 LI07-093 15.5 28.0 12.5 3.9 LI07-094 34.0 50.5 16.5 1.6 and 60.0 67.5 7.5 3.5 LI07-140 30.0 32.5 2.5 6.0 and 91.5 102.0 10.5 3.6 LI07-141 33.6 42.5 8.9 3.7 LI07-143 147.3 155.3 8.0 3.1 LI07-144 66.0 67.8 1.8 6.1 and 70.0 73.6 3.7 5.5 LI07-145 18.5 24.0 5.5 9.2 and 27.0 30.0 3.0 4.1 LI07-146 104.5 110.2 5.7 2.1 and 114.0 119.5 5.5 2.2 LI07-147 36.0 43.5 7.5 3.1 ------------------------------------------------------------------------- Intervals approximate true width. Grades are uncut ------------------------------------------------------------------------- La Sofia ------------------------------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) ------------------------------------------------------------------------- LI06-012 34.0 38.1 4.1 3.1 and 43.5 54.2 10.7 1.5 and 64.0 67.0 3.0 3.5 and 72.0 89.1 17.1 1.8 and 93.9 116.5 22.7 3.0 LI06-036 163.8 171.4 7.7 3.2 and 178.1 182.1 4.0 3.7 LI07-051 116.0 121.5 5.5 5.0 LI07-097 162.1 166.4 4.3 3.1 LI07-099 60.9 69.3 8.4 2.0 LI07-100 55.4 75.0 19.6 4.9 LI07-101 83.8 90.8 7.0 2.9 LI07-103 72.6 76.5 3.9 2.7 LI07-107 35.0 39.8 4.8 2.1 LI07-118 9.0 18.0 9.0 2.6 and 24.5 27.8 3.3 7.8 LI07-119 5.2 19.5 14.3 2.8 LI07-123-B 32.9 34.5 1.6 6.8 LI07-124 16.5 25.2 8.7 1.7 and 31.0 31.8 0.8 28.4 LI07-153 28.7 33.4 4.8 2.7 LI07-154 0 6.0 6.0 3.9 ------------------------------------------------------------------------- Intervals approximate true width. Grades are uncut ------------------------------------------------------------------------- El Tapon ------------------------------------------------------------------------- Hole No. From To Interval Grade (m) (m) (m) (g/t) ------------------------------------------------------------------------- LI06-035 6.0 13.5 7.5 1.7 and 42.0 46.5 4.5 2.3 LI06-037 115.6 121.5 5.9 1.9 LI06-039 149.6 160.5 11.0 3.7 LI06-042 170.8 178.0 7.2 2.9 and 181.6 192.5 11.0 3.9 LI06-046 164.0 185.5 21.5 6.4 LI07-109 92.0 106.0 14.0 5.9 LI07-110 36.5 39.5 3.0 11.9 LI07-135 101.5 106.9 5.4 3.0 ------------------------------------------------------------------------- Intervals approximate true width. Grades are uncut -------------------------------------------------------------------------

In 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 Choco 10 mine similar lithologies, structural features and style.

Dr Mike Armitage C.Eng. C. Geol. is the Qualified Person for this project and is independent of the company. He has conducted the verification for this project. Medoro has used Triad Laboratories in Venezuela as the primary laboratory. Split HQ core samples of 4 to 5 kg were crushed and pulverized to 250 grams. A 50 gram sample was split for fire assay analysis using AAS finish, and gravimetric finish if Au was 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.

Medoro Resources is a gold exploration and development company focused on acquiring properties of merit for potential joint ventures with senior producers. The company holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela and interests in seven gold exploration areas in the Republic of Mali. Additional information on the company can be found by visiting the company's website at www.medororesources.com. Medoro's Nominated Adviser for the purposes of AIM is Canaccord Adams Ltd. (Ryan Gaffney), +44 (0) 20 7050 6500.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

For further information: Jose Francisco Arata, Executive Vice President, Exploration at (416) 603-4653, jfarata(at)medororesources.com (MRL)