Es geht weiter MEDORO RESOURCES LTD NEW (WKN: A1C1

Pursuant to the terms of the asset purchase agreement (the "Frontino Acquisition Agreement") in respect of the acquisition of the Frontino Acquisition, the Frontino Acquisition purchase price was COP380,000,000,000 (approximately US$200,000,000) in cash, of which COP15,000,000,000 was paid on March 31, 2010 as a deposit. After the market close on August 17, 2010, Zandor Capital S.A. ("JVCo"), then a wholly-owned subsidiary of Medoro, entered into a convertible promissory note (the "Convertible Note") with Gran Colombia pursuant to which Gran Colombia lent COP365,000,000,000 to JVCo so that JVCo could complete the second step in the transaction by closing the Frontino Acquisition on August 18, 2010, as previously announced. In connection with completing the final step in this transaction today, Gran Colombia exercised its conversion right pursuant to the Convertible Note and Medoro and Gran Colombia entered into the Joint Venture Agreement whereby Medoro's interest in JVCo became 5% and Gran Colombia's interest 95% (including, among other things, the back-in right pursuant to which Medoro has the right to increase to a 50% interest in the joint venture), all as described in Medoro's press release issued on August 18, 2010.

About Medoro Resources Ltd.

Medoro Resources Ltd. is a gold exploration, development and mining company with a primary emphasis on Colombia. The Company operates the producing Mineros Nacionales gold mine located in Zona Baja at Marmato and is conducting an exploration and infill drilling program at its Marmato Project to upgrade and expand its gold resources there in anticipation of developing a large tonnage open pit gold mine there.

Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela where it is continuing its efforts to obtain an exploitation permit to allow development of these gold properties when circumstances in Venezuela allow. Medoro owns interests in gold exploration properties in Mali in respect of which it is seeking possible joint venture partners to further explore these properties.

Additional information on Medoro Resources Ltd. can be found on the Company's website at www.medororesources.com and by reviewing the Company's profile on SEDAR at www.sedar.com.

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of Medoro and its projects, and transactions involving Medoro and JVCo. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medoro to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Medoro disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.




FOR FURTHER INFORMATION PLEASE CONTACT:

Medoro Resources Ltd.
John Hick
President & CEO
(416) 603-4653
or
Medoro Resources Ltd.
Linda Dorrington
Director, Investor Relations
(416) 603-4653
(416) 360-7783 (FAX)
www.medororesources.com

All of the above holes were planned as either in-fill holes or step-out holes and were drilled from surface in the Zona Alta and Echandia areas of the Marmato Project.

John Hick, President and CEO of Medoro, commented: "We are very pleased with the consistently good results from this drilling program, which demonstrate good gold grades over significant widths. The results continue to confirm our interpretation of the deposit. Marmato is a significant bulk tonnage gold project in Colombia which is distinguished by its access to excellent infrastructure, an existing operational mine and mill and topography which will allow for the construction of bulk tonnage mine."

"Furthermore, the underground gold mine in Zona Baja gives us the advantage of being able to drill previously inaccessible areas and to drill deeper areas of the deposit, which is open to depth, more efficiently. The underground part of the program has now started with one rig, and another three rigs will be added in September. The gold zone is open to the southeast and the northwest and to depth, and we look forward to further expanding the resources in these areas as the drilling program progresses," he added.

This drilling program commenced in January 2010 and is scheduled to finish in mid-2011. The drilling program will include both surface and underground drilling. There are now 10 drill rigs in operation on surface, plus one more underground. Another three underground drill rigs are already in Colombia and should be at site before the end of September, which will bring the total number of rigs to 14.

The Marmato Project is one gold deposit comprised of the three contiguous license areas of Zona Alta, Echandia and Zona Baja, which cover 1,198 hectares in Caldas, Colombia. The Marmato Project currently has a measured and indicated mineral resource of approximately 7.5 million ounces of gold in a total of approximately 245 million tonnes of material with an average grade of 0.95 g/t Au, and an additional inferred resource of approximately 2.2 million ounces of gold in a total of approximately 76 million tonnes of material with an average grade of 0.92 g/t Au, plus additional silver resources, all as set out in the NI 43-101 technical report(1) in respect of the Marmato Project resource estimate, which was filed on SEDAR on April 22, 2010 (the "Technical Report"; see the Company's press release dated April 22, 2010).

The table below sets out the full drilling results for the 20 drill holes referred to in this press release representing a total of 7,080 m of drilling. A total of 82 drill holes have been completed and reported on to date for a total of 27,946 m of drilling. All of the results to date, together with a map showing the locations of the drill holes, are available on the Company's website at www.medororesources.com.

The total number of metres drilled to date is 37,235 m in 108 holes, including twin holes, 16 holes for which the Company is awaiting assay results and 10 drill holes which are currently in progress.

exploration and in-fill drilling program at its Marmato Project to upgrade and
expand its gold resources there.


Medoro has a 5% interest in the Frontino Gold Mines assets through a joint
venture with Gran Colombia Gold Corp., which operates the joint venture and
holds the other 95%. The 5% interest is a carried interest for one year, during
which time Medoro has a back-in right option to increase its interest to 50% by
paying 50% of the net purchase price, Finders Fees and any capital expenditures
incurred by the joint venture up until the exercise of such option, plus a
premium of 25% thereon. If Medoro does not exercise its back-in right, its 5%
interest would be a participating interest subject to dilution if Medoro does
not contribute it ongoing share of expenditures. The Frontino Gold Mines assets
cover a large land position of 2,907 hectares in the northeast of the Department
of Antioquia, Colombia.


Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in
Venezuela where it is continuing its efforts to obtain an exploitation permit to
allow development of these gold properties when circumstances in Venezuela
allow. Medoro owns interests in gold exploration properties in Mali in respect
of which it is seeking possible joint venture partners to further explore these
properties.


Additional information on Medoro Resources Ltd. can be found on the Company's
website at www.medororesources.com and by reviewing the Company's profile on
SEDAR at www.sedar.com.


This press release contains forward-looking statements based on assumptions,
uncertainties and management's best estimates of future events. Actual results
may differ materially from those currently anticipated. Investors are cautioned
that such forward-looking statements involve risks and uncertainties. Important
factors that could cause actual results to differ materially from those
expressed or implied by such forward looking statements are detailed from time
to time in the company's periodic reports filed with the British Columbia
Securities Commission and other regulatory authorities. The company has no
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by law.

Marmato has a measured and indicated resource of some 7,5-million ounces of gold with an average grade of 0,95 g/t. Medoro plans to complete a scoping study on the project by the end of the year.

"There's definitely potential there," Walker noted.

"They have to take into consideration these small scale miners that are on their properties," he added.

In a presentation posted to its website this week, Medoro said it had purchased 104 out of 143 legal concessions at Marmoto, located 120 km south of Medellin in Caldas state.

It estimated buying the remaining concessions would cost $10-million, and would make the acquisitions over time to preserve jobs.

As for the artisanal miners – both legal and otherwise – Medoro has made a conscious decision to allow them to continue to operate until it is ready to build a mine and offer them alternative employment, the company said.

Medoro is already operating a mine at Marmoto, called Mineros Nacionales. Last year, the operation produced 25 000 ounces of gold at an average grade of 3,5 g/t.

The company also has a joint venture with Gran Columbia at the Frontino project in Columbia, which produced 55 000 ounces of gold at an average grade of 10,4 g/t last year.

According to the joint-venture agreement, Medoro holds a 5% stake in Frontino, with a one-year option to increase its ownership to 50%.

To do so, it had to pay 50% of the purchase price to Gran Columbia ($100-million), as well as to pay for the capital spent to date, plus a 25% premium. Gran Colombia will be the operator.

Medoro was trading down 2,3% at $1,69 a share on Wednesday late morning, giving it a market capitalisation of C$237-million.

Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela where it is continuing its efforts to obtain an exploitation permit to allow development of these gold properties when circumstances in Venezuela allow. Medoro owns interests in gold exploration properties in Mali in respect of which it is seeking possible joint venture partners to further explore these properties.

Additional information on Medoro Resources Ltd. can be found on the Company's website at www.medororesources.com and by reviewing the company's profile on SEDAR at www.sedar.com.