Re Agreement

Medoro Resources Announces Completing Agreements with Sargold

    TORONTO, Aug. 11 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS/AIM: MRL)
announced today that it has completed its previously announced transaction
with Sargold Resource Corporation (TSX-V: SRG), whereby the parties amended
their existing agreement relating to the sale by Medoro to Sargold of Sardinia
Gold Mines SpA. Under the amended terms, Sargold paid (euro)1.0 million to
purchase 90% of the issued and outstanding shares of Sardinia Gold Mines
S.p.A. Sargold also acquired for an additional (euro)1.0 million all of
Medoro's interest in SGM Ricerche, the Italian company that holds the
interests to the Monte Ollasteddu gold project. Medoro has also retained a 2%
net smelter royalty on the Sardinia Gold assets, which Sargold can repurchase
by paying US$1.0 million for each 1% of the royalty purchased.

    Medoro Resources is a gold exploration and development company focused on
acquiring properties of merit for potential joint ventures with senior
producers. The company has acquired a 100% interest in the Lo Increible 4A and
4B concessions in Venezuela. Further information is available on our 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


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