31st May 2006 07:00
Medoro Resources Announces 2006 First Quarter Results TORONTO, May 30 /CNW/ - Medoro Resources Ltd. (TSX-V:MRS, AIM: MRL)announced today results for the quarter ended March 31, 2006. For the quarter ended March 31, 2006, Medoro reported a loss of $140,000or $0.00 per share as compared to a loss of $512,000 or $0.01 per share in thefirst quarter of last year. The current loss largely reflects corporate costsof $318,000 as compared to $505,000 in the same period last year, partiallyoffset by interest and other income and an unrealized gain on the translationof foreign currency balances of $178,000. At March 31, 2006 the company hadcash and short-term investments of $14.1 million and no debt. Completefinancial statements are available on the Company's website or on SEDAR atwww.sedar.com. Medoro Resources is a gold exploration and development company focused onacquiring properties of merit for potential joint ventures with seniorproducers. Further information is available on our website atwww.medororesources.com. THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE For further information: Robert Doyle, Executive Vice President,(416) 603-4653, pvolk(at)medororesources.com (MRS.)ENDMEDORO RESOURCES LTDRelated Shares:
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