Issue of Equity

Medoro Resources Ltd
05 April 2004


Medoro Announces Issuance of Shares for Debt

Medoro Resources Ltd. (TSX-V/AIM: MRL) announces that on March 31, 2004 it
reached agreement with three consultants to the Company to have a portion of
their accrued fees paid through the issuance of shares.

Under these agreements, accrued obligations as of February 29, 2004 amounting to
$42,285 incurred by the company's predecessor, Gold Mines of Sardinia PLC, have
been converted into an aggregate of 84,568 common shares of the company. This
issuance was done at $0.50, the Market Price of the shares on the TSX Venture
Exchange on the day that agreement was reached.

The company has proposed similar arrangements to other creditors and may have
further announcements in the near future.

The issuance of the shares is subject to regulatory approval by the TSX Venture
Exchange.

FOR FURTHER INFORMATION
Peter Volk, Assistant Secretary
1 [phone]
[e-mail]




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