Mindoro Resources Ltd. (TSX.V:MIO) - February 2012

A successful explorer with pathway to productionTwo stage nickel development strategy, Established “license to operate” gold resource growth and copper-gold in the world class mining districts discovery upside of the Philippines.

FORWARD LOOKING STATEMENTSThis presentation may contain forward-looking statements including managements assessments of futureplans and operations, expectations of future production, cash flow and earnings. These statements arebased on current expectations that involve a number of risks and uncertainties, which could cause actualresults to differ materially from those anticipated.These risks include, but are not limited to, the risks associated with the mining and exploration industry (e.g.operational risks in development, exploration and production; delays or changes in plans with respect toexploration or development projects or capital expenditures; the uncertainty of reserve estimates; theuncertainty of estimates and projections relating to production).QUALIFIED PERSONSMindoro’s exploration programs are prepared and/or designed and carried out under the supervision ofTony Climie, P.Geo., who is a Qualified Person as defined by National Instrument 43-101 and is aCompetent Person as defined by the JORC Code, and who has reviewed and verified the pertinentdisclosure of exploration related technical information contained in this news release. Mr. Climie is anexecutive and a director of Mindoro and is a member of the Alberta Professional Engineers, Geologists andGeophysicists Association. Mr. Climie has more than five years of experience which is relevant to the styleof mineralization and type of deposit under consideration and to the activity which he has undertaken. Mr.Climie has consented to the release of the pertinent exploration related technical information in the formand context in which it appears.Boyd Willis, FAUSIMM, who is a Qualified Person as defined by National Instrument 43-101, and aCompetent Person as defined by the JORC Code, has reviewed and verified the disclosure of adevelopment nature contained in this news release. Mr. Willis has more than five years of experiencewhich is relevant to the activity which he has undertaken and he has consented to the release of thepertinent development related information in the form and context in which it appears.2

MINDORO RESOURCES: A VALUE INVESTMENT HIGHLIGHTSMindoro’s focus is Philippines exploration and development with assets: Nickel Resources at Agata, Meas. and Ind. 43mt @ >1% Ni, 430,000t Ni Nickel two-stage development strategy to be funded by strategic partner Gold Resources at Batangas, *500,000 oz with high-grade upside Copper-gold-sulphur Exploration Target at Pan de Azucar Copper-gold porphyry, ten priority targetsMindoro’s focus is taking our projects from discovery to production*tonnes and grade in body of presentation

CORPORATE PROFILE CAPITALISATION ($CDN) Exchange & Symbol TSX-V: MIO, ASX: MDO, FFT: OLM Shares outstanding 252m Fully diluted 291m Share price (06/02/12) $0.12 Market capitalisation (06/02/12) $30m Current treasury (06/02/12) $2.5m SHAREHOLDERS Acorn Capital 15.8% IFC (World Bank) 9.1% (10.6% incl. Asian Lion interest) Asian Lion Ltd 7.9% Lion Selection 6.9% (10.0% incl. Asian Lion interest) US Global 1.3% Directors 3.1% Top 20 55.7%4

BOARD & MANAGEMENT Jon Dugdale Director, President & CEO 25 years gold and nickel discovery and investment Tony Climie Director Exploration & COO 42 years mineral exploration, co-founder of MIO Rob King VP Commercial, CFO & Corp Sec. 25 years financial/commercial with Placer/Barrick Rob Garden Chairman 32 years a QC in natural resources Howard Walker Executive Vice Chairman 36 years in mining, finance and investment John Tosney Director (Non Executive) 45 years mining engineer and gold project developer Chris de Guingand Director (Non Executive) 50 years commercial and marketing experience Oscar Reyes Director (Non Executive) 38 years in business ex Chairman & CEO Shell Philippines. Doug Frondall Director (Non Executive) 35 years accounting, management consulting.5

PORTFOLIO OF PROJECTS IN KEY MINING DISTRICTS MAP KEY GOLD Mindoro project Didipio Cu-AuBatangas Projects (Oceana Const.) Major Deposit(100% economic interest) Recent major discovery (within last 15 years)• Archangel (Gold) Nickel processing plant• Lobo (Gold) Fault• El Paso, Calo, Talahib (Cu-Au)COPPER-GOLD Masbate Gold 200,000oz pa (CGA Mining)Pan de Azucar Project(75% economic interest)• Valderama massive Cu-Au-Sulphide NICKEL Taganito Nickel Project (Const.) (Sumitomo/Nickel Asia)Agata - Surigao Projects(75% interest, options for 100%)• Agata Nickel Project Coral Bay Nickel 21,000 Ni tpa  Co-O Gold 100,000oz pa (Sumitomo/Nickel Asia) (Medusa Mining)• Cu-Au Porphyry targets (American Tunnels, Tapian-SF)  Tampakan, Cu-Au, BFS (Xtrata/Indophil) 6

SURIGAO DISTRICT: AGATA NICKEL PROJECT AGATA NICKEL (75%, Option 100%) Luzon SURIGAO CITY MAP KEY Manila Mindoro tenements / applications Nickel laterite mineralization Nickel laterite mine Philippine Sea Tapian- Recent porphyry copper-gold discovery SanFrancisco SILINGAN Porphyry copper-gold prospects Cu-Au (BOYONGAN-BAYUGO) Copper-Gold, Philex Mindanao Gold mine or prospect 5b lbs Cu, 9 Moz Au FaultTAPIAN Drilled area N 0km 10km CANAGA Lake Mainit TAPIAN TAGANITO Nickel Asia – Sumitomo KARIHATAG DSO + HPAL construction BOLOBOLO AGATA RESOURCES Combined Limonite & Saprolite Measured & Indicated 42.7M DMT @ 1.01% Ni American AGATA Inferred NORTH Tunnels Cu-Au 2.4M DMT @ 0.99% Ni Butuan Bay (Total 45.2M DMT @ 1.01% Ni) AGATA SOUTH Resource: Sept 11 Horizon ktonnes Ni % Co % Fe % Ni (kt) 10 defined regional targets Meas, Indicated Limonite 13,508 0.89 0.10 45 120 5 drilled to date Saprolite 29,254 1.06 0.03 11 311 SRMI Inferred Limonite 683 0.79 0.09 40 5 DSO Saprolite 1,753 1.03 0.03 12 18 Total 45,197 1.01 0.05 22 454 7

AGATA NICKEL LATERITE CROSS SECTION A 8900E 9000E 9100E 9200E 9300E 0.53 /49.77 0.63 /48.00 0.69 /47.78300m ASL FERRUGINOUS LATERITE 4.00 4.85 2.90 LIMONITE 0.90 /51.04 1.18 /40.00 0.96 /53.48 0.92 /53.00 0.94 /51.47 0.90 /50.00 1.08 /49.34 2.00 1.15 5.30 4.25 5.15 1.10 2.00250m AGL-498 AGL-140 AGL-142 AGL-499 AGL-500200m AGL-146 AGL-341 22.15m 15.1m 19.4m 26.8m 25.3m 16m 20m150m SAPROLITE 1.39 /15.90 1.29 /8.00 1.43 /12.64 0.96 /11.00 1.87 /12.81 1.55 /18.00 1.41 /11.56 10.90 7.15 7.95 6.65 11.45 13.15 4.00100m AGL-362 Drillhole number 50m Ferruginous Laterite Limonite Ni% AGATA NICKEL Fe% Boulder LATERITE PROJECT Saprolite 1.09 /41.61 Saprolitic rock 5.00 Thickness of intercept (m) Cross Section Line 9550N 0 Bedrock 50m 46m End of hole 8

AGATA NICKEL PROJECT DEVELOPMENT OPTIONS STAGE 1: DSO AND THERMALLY UPGRADED SHIPPING ORE 1 1 Direct Shipping Ore (DSO) granted ECC, scoping study viability • Cash flow positive in March 2011 PEA based on Capex of $8m, pricing increases since then • 9 million wet metric tonnes shipped over 4 years 1a Thermal Upgrading Scoping Study (November 2011) • Roasted sinter then magnetic separation Ni-Fe concentrate: 3-4% Ni, >65% Fe 1a • Capex for 600k tpa sinter production / 175k tpa concentrate: $88m • Opex for 600k sinter tpa $32/t / Opex for 175k tpa $130/t (excluding mining cost) STAGE 2 : MAJOR ACID LEACH PROCESSING OPERATION 2 Pre-Feasibility Study (PFS) Nov. 2011: HPAL-Atmospheric Leach (AL)-Saprolite Neutralisation • Outstanding Metallurgy: HPAL 95% - 97% Ni <30 minutes; AL 95% - 98% Ni in 2 - 4 hours 2 • 1.8m tpa processed for 17,200t nickel in Mixed Hydroxide (40% Ni) for 15 - 20 years • Capex $940m (Including 14% estimate but no project contingency) • Opex $2.60/ Ni lb with cobalt and power generation credits; • Cash flow $150m per annum; payback 5.5 years; • NPV(8%) @ $10/lb nickel price: $380M; IRR 14% Seeking a partner to fund stage 1 development and stage 2 feasibility (Deloitte Advising) The company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.9

AGATA NICKEL PROJECT DEVELOPMENT PLAN Agata MPSA Stage 1: Direct Shipping Ore (DSO) Agata (North) Nickel Laterite Resource • Capex $8m • 1.5m dry / 2.25m wet tonnes pa Stage 1a: Thermal Upgrading (Fe-Ni) PFS Proposed Processing Plant • Capex $88m PFS Proposed • 600kt sinter / 175kt Ni-Fe con. Pa Residue Storage Agata South Stage 2: Hydromet Processing (PFS) Nickel Laterite Resource • Capex $940m (subject to Chinese review) • 17,200t Ni in mixed hydroxide pa SRMI Nickel DSO Mindanao Sea 0 1km SRMI Tubay Wharf

AGATA NICKEL PROJECT DEVELOPMENT PLAN AGATA NICKEL PROJECT 2011 2012Preliminary Economic AssessmentNickel Resource Growth Further drilling to increase resourceStage 1: Test work and Economics Feasibility, Permitting then Construction Stage 1Stage 2: Pre-feasibilityMajor Hydrometallurgical Project: Pilot Testing then DFS Strategic Partner The company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met. 11

PAN DE AZUCAR PROJECT (75%)• Massive sulphide sulphur-copper-gold deposit Luzon BATANGAS PROJECTS• Defined Exploration Target: Bebs 27 Manila - 8 – 12.7 million tonnes, 11 Hill - 35 – 40% sulphur, SURIGAO PROJECTS Asparin - 0.4 – 0.6% copper PAN DE 23 AZUCAR Hill - 0.5 – 0.7 g/t gold PROJECT• Metallurgy for acid (Ni) and copper-gold leach04 10 14 24 09 Mindanao• Plunging shallowly north, open at depth 16 22 25• More drilling and metallurgy required for resource 08 12 26 MAP KEY 19 17 Quaternary alluvium 18 Andesitic flow dome 28 Andesite and dacite tuffs & volcanics 05 29 Mt. Lo-oc Dacitic volcanics & volcaniclastics 03 06 Interpreted fault 13 07 Collapsed features / ring faults 02 15 20 32 Creek 21 07 Dill hole (2001-2002) 19 Drill hole (2011) 30 MPSA boundary Pabilona Hill 01 Valderama zoneCaution, the Valderama massive sulphide is Boundary defined from drilling Valderam 31currently an Exploration Target only. Detailed a Hill Boundary defined from geophysical anddrilling will be required to convert the geochemical dataExploration Target into NI 43-101-compliant Ferraris Vuggy, leached, quartz alunite alteredresources. There is no guarantee that these Hill bouldersresources, if delineated, will be economic orsufficient to support a commercial mining Dark grey – dark red ferruginous bouldersoperation. Until a feasibility study has been Topography Ncompleted there is no certainty that thecompanys projections will be economicallyviable. 0 200m

PAN DE AZUCAR MASSIVE SULPHIDE MINERALIZATION20,900N 21,000N 21,100N 21,200N 21,300N 21,400N 21,500N 21,600N 21,700NLS LS LONGITUDINAL SECTION (LOOKING NW) 51.90m100 15.6m50 PDA-01 PDA-23 PDA-27 . PDH-05 PDA-18 PDA-14 2 . 2 ) PDA-12 ) PDA-20 PDA-21 PDA-03 PDA-28    . 2 2 2 . 2 PDA-25 PDA-22 2 2. 2 . 2  0 ) .    M)  M M M      )    .                               M MM  M    M       36.8m M-50                ± ±  ±± 90.65m    ? ?   o o   ? ?    94.5m 98.0m   95.4m  o-100    95.55m   111.6m                   130.5m HOLE NO. FROM (m) TO (m) RUN (m) Au g/t Ag g/t Cu % Zn % Sulphur% PDA-18 35.6 94.9 59.3 0.90 3.45 0.45 0.45 39 50m PDA-20 1.6 33.3 31.7 1.15 6.12 0.48 28 PDA-21 2.8 42.0 39.2 1.00 15.71 1.89 2.02 42 PDA-22 10.0 23.0 13.0 0.62 8.61 2.53 40 PDA-22 38.1 85.6 47.5 0.75 1.01 0.09 41 PDA-25 11.1 87.1 76.0 0.64 4.54 0.38 34 Including 23.1 40.0 16.9 0.59 3.06 1.01 36 PDA-28 9.2 13.1 3.9 0.78 55.31 5.30 5.11 38 PDA-28 20.75 75.55 54.8 0.77 11.52 1.17 0.68 40 13

BATANGAS GOLD PROJECT & COPPER-GOLD TARGETSObjectives: MAP KEY• High-grade gold resource growth Mindoro tenements / applications Crazy Horse Resources• Scoping Study on development Porphyry copper-gold prospects• Porphyry copper-gold targeting Resource area Epithermal vein trends Copper showing Crazy Horse, Taysan Historical mine / workings Copper Project Other prospects Porphyry Cu-Au target El Paso N 0 4km Calo Luzon Talahib Manila Marita LOBO Mindanao LOBO PROJECT - SW BRECCIA,High grade epithermal gold veins; 5km to test ARCHANGEL PROJECT NI 43-101 Resource Estimate NI 43-101 Resource Estimate Indicated: 270,000 t @ 6.49 g/t (56,380 oz) Sea Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz) Inferred: 61,000 t @ 5.35 g/t (10,540 oz) Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz) High-grade Intercepts at depth: eg 61m @ 5.1 g/t Au 14

BATANGAS, ARCHANGEL PROJECT BATANGAS • 6km gold zone with porphyry at depth PROJECTS Crazy Horse Bootin Taysan Project • Drilling high-grade feeders to build resource EL PASO PROJECT • Resources low-strip and excellent metallurgy Biga LOBO GOLD PROJECT TALAHIB PROJECT ARCHANGEL PROJECT Porphyry Copper-Gold KAY TANDA GOLDtarget at depth indicated RESOURCE by 6km x 1km IP geophysical anomaly Marita MAP KEY and drilling Archangel MPSA boundary Younger cover rocks Extensively altered volcanics intruded by diorite and dacite Advanced argillic zones Resource area XS 9350N Epithermal gold-silver zones Porphyry-related stockworks Vein breccia Kay Tanda NI 43-101 Resource Estimate Indicated: 9,879,000 t @ 1.1 g/t (337,500 oz) Boulder field of mineralized massive silicified rocks Inferred: 3,741,000 t @ 0.8 g/t (97,200 oz) Old mine working Copper showing High-grade Intercepts at depth: eg 61m @ 5.1 g/t Au, 64m @ 3.5 g/t Au, 26m @ 4.03 g/t Au Strong chargeability anomalies N 0 1 Km Sea

BATANGAS, KAY TANDA PROJECT PULANG LUPA CROSS SECTION 9350N: Shallow Resource and “Feeder” Target 9600E 9700E 9800E 9400E 9500E Batangas Projects 58m @ 1.53 g/t Au 26m @ 4.03 g/t Au, 179.16 g/t Ag 60m @ 1.46 g/t Au, 25.10 g/t Ag 10m @ 6.84 g/t Au PL-37 PL-24 PL-23 PL-31 PL-3020m @ 1.09 g/t Au PLDH-01 PL-16 PL-17 MAP KEY PL-22 75m Interpreted mineralization 60m boundaries 70m 51m Quartz - gold breccia vein 70m 82m 60m 105.2m KT-07 Drill hole 50m 2m @ 12.24 g/t Au Mineralized intercept 28m @ 1.47 g/t Au Mineralized intercept24m @ 0.75 g/t Au (spiky/high grade) 75m End of hole 50m

BATANGAS, LOBO GOLD PROJECT Nagtoctoc BATANGAS • High-grade gold shoots targeted Crazy Horse PROJECTS • 5km mapped epithermal lode structures ? Taysan Project • Drilling to build resource LOBO GOLD PROJECT EL PASO PROJECT Pica: High grade epithermal veins in TALAHIB • 213m @ 0.18% Cu, 0.30 g/t Au PROJECT ARCHANGEL PROJECT ? Balisong KAY TANDA GOLD RESOURCE Camo shoot?, at surface, • 4.5m @ 488 g/t Ag, 1.8% Cu MAP KEY ? • 3.5m @ 114 g/t Ag, 0.36% Cu Alluvium Pica ? Limestone Lobo shoot? Old Lobo Mineralized and altered 12m @ 7.42 g/t Au Copper Mine volcanics Mineralization shoot ? Camo Epithermal vein breccia trend ? Silica cap Line 10185N Old MineRecent results eg LB-62:• 8.0m @ 8.8 g/t Au and Line 10170N High-Grade shoot target• 7.45m @ 12.4 g/t Au Line 10155N ? SW Breccia Mineral Resource: High Grade Shoot • Indicated - 270,000 t @ 6.49 g/t Au; 56,380 oz Au N • Inferred - 61,000 t @ 5.35 g/t Au; 10,540 oz Au 0 500m • open to SW and depth

BATANGAS, LOBO PROJECTSOUTHWEST BRECCIA LONGITUDINAL PROJECTION 10,172N 10,185N 10,155N B’ 10,140N 10,100N 10,200N 10,215N 10,125NB Batangas Projects TR-2 210.1 LB65-11 OC channel 36.2 TR-1 159.2 170m 358.2 ASL LB64-11 54.59 LB62-11 150 92.23 LB59-11 13.8 LB58-11 59.4 MAP KEY LB60-11 LB61-11 Trench 19.3 67.5 TR OC Outcrop LB-20 Drill hole number 100 79.5 Gold grade g/t x true vein width in meter > 50 20 – 49 LB63-11 27.89 10 – 19 ? 50 LB61-11 ? Drill hole (2011) 20m

BATANGAS, LOBO PROJECT SOUTHWEST BRECCIA CROSS SECTION 10172N Trench: 11m @ 19.1 g/t Au 9,950E 10,000E Batangas 13.3m @8.30 g/t Au Projects LB65-11 6.0m @3.40 g/t Au180m ASL 11.90m LB62-11 7.75m @ 4.67 g/t Au160 LB61-11 inc. 1.95m @ 11.8 g/t Au 17.4m @ 9.60 g/t Au140 30.25m MAP KEY Quaternary agglomerate120 32.2m @ 9.50 g/t Au 52.25m 69.40m Quartz - barite - pyrite vein breccia 8.0m @ 8.82 g/t Au Quartz - pyrite ± clay alteration 57.30m3.0m @ 15.4 g/t Au inc. Clay - pyrite - quartz ± chlorite ± and 7.45m @ 12.4 g/t Au100 inc. 5.30m @ 15.6 g/t Au magnetite alteration 57.60m Quartz - clay - pyrite alteration Propylitized andesite wallrock 80 8.3m @ 6.30 g/t Au (chlorite - clay - pyrite ± quartz ± 104.50m calcite ± magnetite) 85.00m Fault gouge 60 LB-07 6.7m @ 10.7 g/t Au Drill hole inc. 3.7m @ 18.0 g/t Au Mineralized intercept 75m End of hole 40 14.0m @ 1.67 g/t Au 20m 129.10m

PORPHYRY COPPER-GOLD: AMERICAN TUNNELS Estrada Tunnel AT-3 Trench 24m @ 2.8 g/t Au15m @ 2.3 g/t Au Pabling Tunnel 29.4m @ 2.50 g/t Au Chalcopyrite (copper) veins Assmicor Tunnel 49.7 @ 5.7 g/t Au + & 33.8m @ 3.1g/t MAP KEY N 0 1 km + +

GOLD AND COPPER-GOLD RESOURCE GROWTH PLAN GOLD AND COPPER-GOLD 2012 2013 Pan de Azucar Cu-Au drilling Metallurgy, Scope *Resource Drilling *Scoping Study Batangas Gold drilling Resource Drilling-Scoping Study *Feasibility/Permits Targeting, *Drilling *More Drilling Porphyry Cu-Au Targets *subject to financingThe company’s production objectives are intended to provide an indication of management’s current expectationsand are still conceptual in nature. It is uncertain that it will be established that these resources will be convertedinto economically viable mining reserves. Until a feasibility study has been completed, there is no certainty thatthese objectives will be met.21

KEY VALUE-DRIVING MILESTONES FOR 2012 Milestone Objective Timing1 Pan de Azucar Target and Metallurgy Exploration Target, metallurgy Q1 20122 Archangel gold resource drilling Define “feeder” structure resources Q2 20123 Strategic Partnership for Agata Nickel Fund Stage 1 development, Stage 2 FS Q2 20124 Batangas gold resource upgrade Significant gold resource increase Q3 20125 Lobo (Batangas) gold target drilling Locate and define high-grade shoots Q3 20126 Drill Porphyry Copper-Gold Targets Test key Cu-Au targets, discovery Q4 20127 Batangas gold scoping study Viable gold project for Feasibility Q4 2012 Next Steps, subject to delivery of above: • Agata Nickel: develop DSO cash flow, complete DFS for processing plant • Batangas Gold: Increase resource, commence FS and permitting • Porphyry Targets: Drill definition of key discovery The company’s production objectives are intended to provide an indication of management’s current expectations and are still conceptual in nature. It is uncertain that it will be established that these resources will be converted into economically viable mining reserves. Until a feasibility study has been completed, there is no certainty that these objectives will be met.

SUMMARY Mindoro Resources is a Philippines focussed exploration and development company with:  Nickel Resources at Agata, Measured and Indicated 42.7mt @ 1.01% Ni, 430,000t Ni  Nickel two-stage development strategy to be funded by strategic partner, (advisor Deloitte)  Gold Resources of *500,000 oz at Batangas, with upside: next development target  Copper-gold-sulphur (acid) Exploration Target at Pan de Azucar  Ten priority copper-gold porphyry targets  Market Capitalisation 6th February 2012: $30m Mindoro’s focus is taking our projects from discovery to production *note, resources tonnage and grade in body of presentation TSXV: MIO ASX: MDO FFT: OLM Contact details at www.mindoro.com23

Mindoro Resources Ltd. (TSX.V:MIO) - February 2012

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Mindoro Resources Ltd. (TSX.V:MIO) - February 2012 — Presentation Transcript