SEGOVIA, COLOMBIA--(Marketwire - April 5, 2010) - This press release is in answer to the public statement of the Canadian company Medoro Resources, dated 31-March-2010, in which Medoro claims to have signed a purchase agreement for the assets of Frontino Gold Mines (Colombia).

"On behalf of the worker's union, the creditors, and the people of Segovia, who are the legal owners of Frontino Gold Mines - we do not know of any such agreement, nor will we recognize any such agreements," said Dairo Alberto Rua, Presidente, Sintramienergetica of Segovia.

"I believe the same statement by Medoro also suggests that Medoro has other plans for workers currently employed by Frontino Gold Mines. On behalf of the entire population and the worker's union, will firmly and decisively oppose any such plans by Medoro," said Alfredo de Jesus Tobon Alvanes, Presidente, ASOACREF.

"We know exactly the worth of Frontino Gold Mines, and will not allow Medoro and persons to take our assets at a price that is a tiny fraction of its true value," Dairo Rua continued.

"On behalf of the owners of Frontino Gold Mines, we want the world to know that we will never accept any such agreements with Medoro, whose behavior has caused great upset, concern and unrest in the area. We believe that Mr. Luis Fernando Alvarado Ortiz and Medoro Resources are trying to create chaos and fear in the mining district of Segovia," said Alfredo de Jesus Tobon Alvanes.

"Only a general assembly of the current creditors (shareholders) can make any decisions in regards to the assets of Frontino Gold Mines. It is very clear that Mr. Luis Fernando Alvarado Ortiz is neither a creditor nor an owner of Frontino Gold Mines and therefore has no right to make decisions," said Alfredo de Jesus Tobon Alvanes. "Our ownership rights are fully documented by a number of legal deeds."

"A criminal complaint against Mr. Serafino Iacono has been filed with the Prosecutor General of Colombia for alleged false and malicious statements made against the workers and owners of the assets of Frontino Gold Mines," said Mr. Rua.

"A coalition consisting of the workers, owners, and creditors of Frontino Gold Mines, along with the Segovia City Council and the people of the region, strongly and unanimously reject the attempts by Medoro Resources to take what is rightfully and legally ours, and demand that our voices be heard and that the law be respected," said Mr. Rua.