Pioneer Municipal High Income Opportunities Fund Inc V.MIO.H

Private Placement

[merr]

Re: Press Release - Wednesday, August 19, 2009
Title: Mindoro Arranges Private Placement

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EDMONTON, Alberta; August 19, 2009 - Mindoro Resources Ltd. (TSXV: MIO; Frankfurt: WKN 906167) today announced that it has arranged for the sale of up to 6,000,000 units to qualified investors at a price of $0.10 per unit. Each unit will consist of one Common Share and one Common Share Purchase Warrant. Each Purchase Warrant entitles the holder to acquire one additional Common Share at a price of $0.20 per share in the first year or $0.30 per share in the second year. The length of the exercise period of the Purchase Warrants will be shortened to 30 days if the closing price of Mindoro's listed shares exceeds the price of $0.35 per share for 10 consecutive trading days within the first year or exceeds the price of $0.50 per share for 10 consecutive trading days within the second year. The Company may pay finder's fees as allowed by the policies of the TSXV.

Net proceeds of the offering will be used to further advance Mindoro's gold and copper-gold projects in the Philippines and for general working capital. The terms of the private placement are subject to regulatory approval.

ABOUT MINDORO
Mindoro is a Tier 1 Issuer trading on the TSX Venture Exchange (MIO) and the Frankfurt Stock Exchange (WKN 906167). Mindoro is focused on copper-gold and nickel exploration in the Philippines with a strategy of advancing early stage opportunities to production or joint venture. Mindoro has NI 43-101 resource estimates on its Agata North nickel-cobalt project and on both its Lobo (SWB) and Archangel (Kay Tanda) gold-silver projects. Mindoro has identified 22 porphyry copper-gold prospects and has a Memorandum of Understanding with Avocet Mining and a Memorandum of Agreement with Gold Fields covering its Batangas projects.

Mindoro is well positioned to capitalize on the global demand for gold with plans to drill the Lobo and El Paso copper-gold projects, funded by Gold Fields, and drill the American Tunnels gold /copper-gold project, commencing in August. Final results are also awaited from due diligence drilling on the Kay Tanda gold project, funded by Avocet. Additional near-term objectives include finalizing one to two joint venture arrangements on Mindoro's porphyry copper-gold prospects at Pan de Azucar and Surigao and identifying a suitable partner to fund development of the significant Agata North nickel resource.

For further information, contact:

Mindoro Head Office
Penny Gould, President
[e-mail]
Tel: [phone] or
Toll Free: 1.877.413.8187
www.mindoro.com

Investor Relations - Canada
Senergy Communications Inc.
Investor Relations
[e-mail]
Tel: [phone]

Investor Relations - Europe
Robert Sarcher
[e-mail]
Tel. [phone]