Private Placement

Medoro Resources Ltd
15 April 2005


NEWS RELEASE

Medoro Resources Announces Completion of Private Placement

TORONTO, Friday, April 15, 2005 - Medoro Resources Ltd. (TSX-V/AIM: MRL)
announced that it has completed a private placement in the United Kingdom of 30
million units at a price of £0.06 per unit for gross proceeds of £1.8 million
(approximately C$4.0 million). Each unit will consist of one share and one half
of a share purchase warrant, with each whole warrant being exercisable for a
period of 2 years from the closing date at an exercise price of £0.10. A cash
commission of 5% and a compensation option equal to 1% of units issued will be
paid to agents for assistance in completing this private placement.

The funds will be used in part to help defray costs associated with due
diligence currently being carried out by the company on a potential opportunity
in Europe, as well as to fund other potential acquisitions when identified.
The company remains committed to its strategy of acquiring properties of merit
which can be joint ventured with, and funded by, senior gold companies.

Medoro has applied for 30,000,000 common shares of the Company to be admitted to
trading on the Alternative Investment Market (AIM) of the London Stock Exchange
plc. These shares will also be listed on the TSX Venture Exchange and may not be
traded on or over the facilities of the TSX Venture Exchange for a period
expiring on August 15, 2005. 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.

Medoro Resources is a gold exploration and development company focussed on gold
opportunities in Italy and elsewhere in Europe.

FOR FURTHER INFORMATION
Peter Volk
[phone]
[e-mail]

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR
THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE


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