Listing Approval

Medoro Resources Receives Listing Approval

 

    /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN

    THE UNITED STATES/

 

    TORONTO, Feb. 13 /CNW/ - Medoro Resources Ltd. (TSX-V/AIM: MRL) announced

today that the TSX Venture Exchange (TSXV) has provided its conditional

listing approval for the previously announced offering of 100 million common

shares at $0.10 per share for gross proceeds of $10 million. Medoro and GMP

Securities L.P. have agreed not to issue any additional shares pursuant to the

previously announced option as the TSXV required that the Medoro common shares

to be issued pursuant to the previously announced option be priced at an

amount higher than the $0.10 per share offering price.

    The offering will be completed with GMP acting as agent on a       

'best-efforts' private placement basis and subject to the parties executing a

formal agency agreement. The company has also applied to have the shares

admitted to trading on the Alternative Investment Market (AIM) of the London

Stock Exchange plc.

    The financing is subject to final regulatory approval and is expected to

close on or before February 28, 2006. All shares issued will be subject to a

four-month hold period.

    The funds will be used for general corporate and working capital

purposes, which may include costs associated with identifying potential

acquisitions.

 

    Medoro Resources is a gold exploration and development company focused on

gold opportunities in Italy and elsewhere. In addition to its financial

assets, the company has a 30% interest in the Monte Ollasteddu gold prospect

in Italy. For further information, please visit the company's website at

www.medororesources.com.

 

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT

    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

 

    The securities being offered have not been, nor will they be, registered

under the United States Securities Act of 1933, as amended, and may not be

offered or sold within the United States or to, or for the account or benefit

of, U.S.persons absent U.S. registration or an applicable exemption from U.S.

registration requirements. This release does not constitute an offer for sale

of securities in the United States.

 

 

    For further information: Peter Volk, Secretary, [phone],

pvolk(at)medororesources.com

    (MRL.)