MEDORO RESOURCES LTD.

TSX-V:MRS (CAD) 0.72 [+0.05 (+7.46%)] Nov 6 2009 - Close

LSE-AIM:MRS (GBP) 3.27 [-0.07 (-2.15%)] Nov 6 2009 - Close

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Type: Public
Classification: Track

Stock Quote: TSX-V:MRS

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220 Bay Street, Suite 1400
TORONTO
Ontario
Canada, M5J 2J4
Phone: +1 (416) 603-4653
Fax: +1 (416) 360-7783

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Company Summary

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 eleven gold exploration areas in the Republic of Mali.

Company News

Tuesday, November 03, 2009

Property: MARMATO MOUNTAIN PROJECT

Medoro Resources Ltd. announced today the closing of its private placement of 128,700,000 special warrants representing the initially announced offering of 125,000,000 special warrants plus the agents' exercise of a portion of their over-allotment option to arrange for the purchase of an additional 3,700,000 special warrants. The special warrants were issued at a price of $0.80 per special warrant for aggregate gross proceeds of Can$102,960,000. The funds raised, net of fees and expenses, will be used principally for exploration, drilling, debt repayment, social work related to the Zona Alta of the Marmato Mountain acquired in its recently completed acquisition of Colombia Goldfields, and for working capital and general corporate purposes.

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