Annual Information Update

Medoro Resources Announces the Filing of Amended MD&A

    TORONTO, July 31 /CNW/ - Medoro Resources Ltd. (TSX-V: MRS/AIM: MRL)
announced today that it has filed on SEDAR an amended Management's Discussion
and Analysis for the year ended December 31, 2005 to include a discussion of
disclosure controls and procedures. The previously reported financial results
have not been restated and remain as reported.
    This amended Management's Discussion and Analysis replaces and supersedes
the original which should be disregarded from the date of this notice.

    Medoro Resources is a gold exploration and development company focused on
acquiring properties of merit for potential joint ventures with senior
producers. The company has acquired a 100% interest in the Lo Increible 4A and
4B concessions in Venezuela. Further information is available on our website
at www.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, [e-mail]
(MRL)