Drilling Report

Medoro Resources Announces Drilling Results

    TORONTO, Nov. 19 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS/AIM: MRL)
announced today further diamond drilling results from its Lo Increible gold
properties located in the El Callao mining district in Venezuela. Highlights
include Hole 07-197 at El Tapon which intersected 23 metres at a gold grade of
8.2 grams per tonne (g/t). In the same area, Hole 07-184 returned 27 metres
grading 3.7 g/t. Two very high grade intersections were reported from the La
Sofia area - Hole 07-151 encountered 73.1 g/t over a 1.5-metre interval while
Hole 07-154 intersected 43.7 g/t over 0.5 metres.
    The program, consisting of three holes at La Cruz, 11 holes at La Sofia,
11 holes at El Tapon and six holes at the new Tibaire zone, was designed to
expand and upgrade current resources. A review of structural data for both the
La Sofia and El Tapon zones is currently in progress, aimed at obtaining a
better understanding of the geological control of high grade shoots which may
be located at fold hinges or shear intersections. Drilling at Tibaire has
confirmed the extension of the La Cruz structure to the northeast.
    Significant intervals (exceeding 10 gram-metres) are summarized below.

    La Cruz
    --------------------------------------------------
    Hole No.     From     To    Interval    Grade
                  (m)     (m)     (m)       (g/t)
    --------------------------------------------------
    LI07_144    152.0   157.6     5.6        5.5
    LI07_145     74.5    82.5     8.0        2.8
    --------------------------------------------------
    Intervals approximate true width. Grades are uncut
    --------------------------------------------------

    La Sofia
    --------------------------------------------------
    Hole No.     From     To    Interval    Grade
                  (m)     (m)     (m)       (g/t)
    --------------------------------------------------
    LI07_120     13.0    23.0    10.0        5.0
    LI07_125     42.5    49.0     6.5        3.1
    LI07_151     62.5    64.0     1.5       73.1
    LI07_154     11.3    11.8     0.5       43.7
    LI07_170     28.0    31.4     3.4        4.2
    --------------------------------------------------
    Intervals approximate true width. Grades are uncut
    --------------------------------------------------

    El Tapon
    --------------------------------------------------
    Hole No.     From     To    Interval    Grade
                  (m)     (m)     (m)       (g/t)
    --------------------------------------------------
    LI07_174     30.0    39.5     9.5        3.3
    LI07_175     49.5    51.0     1.5        6.0
    LI07_175    126.5   129.3     2.8        7.0
    LI07_177     64.4    73.2     8.8        4.4
    LI07_183      5.3    10.0     4.7        2.7
    LI07_184-B  175.3   202.2    26.9        3.7
    LI07_190-B  182.5   194.3    11.8        4.5
    LI07_195    196.3   203.1     6.8        4.7
    LI07_197    183.0   206.0    23.0        8.2
    and         223.9   230.8     6.9        2.0
    --------------------------------------------------
    Intervals approximate true width. Grades are uncut
    --------------------------------------------------

    Tibaire
    --------------------------------------------------
    Hole No.     From     To    Interval    Grade
                  (m)     (m)     (m)       (g/t)
    --------------------------------------------------
    LI07_186    113.5   115.0     1.5        7.8
    LI07_193    124.5   127.3     2.8        4.4
    --------------------------------------------------
    Intervals approximate true width. Grades are uncut
    --------------------------------------------------

    At the Lo Increible properties, gold mineralization occurs as lode-gold
shear-hosted quartz-carbonate veins. Mineralization is associated to the
east-northeast to east trending Lo Increible shear, and it shares with the
nearby Choco 10 mine similar lithologies, structural features and style.
    The company currently has three drill rigs on the property, of which one
is dedicated to upgrading the resources at the La Cruz, La Sofia and El Tapon
zones. The second rig is evaluating three additional prospects, among others,
that have been identified within Lo Increible 4A and 4B - Tibaire, La Lapa, La
Loca and Los Gritos.
    Dr Mike Armitage C.Eng. C. Geol. is the Qualified Person for this project
and is independent of the company. He has conducted the verification for this
project. Medoro has used Triad Laboratories in Venezuela as the primary
laboratory. Split HQ core samples of 4 to 5 kg were crushed and pulverized to
250 grams. A 50 gram sample was split for fire assay analysis using AAS
finish, and gravimetric finish if Au was greater than 2.0 g. A comprehensive
quality control program, which includes blanks, standards duplicates and cross
checks was employed. This QC program included the use of certified standard
reference samples.

    Medoro Resources is a gold exploration and development company focused on
acquiring properties of merit for potential joint ventures with senior
producers. The company holds a 100% interest in the Lo Increible 4A and 4B
concessions in Venezuela and interests in seven gold exploration areas in the
Republic of Mali. Additional information on the company can be found by
visiting the company's website at www.medororesources.com. Medoro's Nominated
Adviser for the purposes of AIM is Canaccord Adams Ltd. (Ryan Gaffney), +44
(0) 20 7050 6500.

    Glossary:

    AAS: Atomic Absorption Spectrometer.
    Split HQ: A standard form of core size.

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For further information: Robert Doyle, [phone]
(MRL)