TORONTO, Ontario The successor to the formerly-producing Gold Mines of Sardinia, MEDORO RESOURCES LTD., has acquired 100% of the share capital in Miniere di Pestarena srl, an Italian company with exploration rights in the Piedmont Region of northwestern Italy. The acquisition cost 600,000 euros plus 4.0 million newly-issued common shares of MedOro. MedOro is also committed to spending at least 1.7 million euros over two years exploring the Pestarena and Lavanchetto properties.
Between 1939 and 1961 one of the properties yielded 190,000 oz of gold. Development includes a decline and a dry, reasonably well-maintained main adit. Old workings are also in good condition. MedOro intends to explore for new high-grade zones that could provide feed for its Furtei mill on the island of Sardinia.
For further information about MedOro, contact assistant secretary Peter Volk at 416-603-4653 or visit www.medororesources.com.