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Mexoro Minerals Intersects High Grade Mineralization at the Cieneguita Project, Mexico

July 17, 2008

CHIHUAHUA, Mexico, July 17 /PRNewswire-FirstCall/ — Mexoro Minerals Ltd. Intersects High Grade Mineralization At Its Cieneguita Project (BULLETIN BOARD: MXOM) (Frankfurt: OYA1).

Mexoro Minerals Ltd. is pleased to announce assay results from six additional drill holes at its Cieneguita Project. The assays included drill holes CI-25, CI-27 to CI-29 and CI-31 to CI-32 which intersected high grade mineralization. These assays are the second set of assay results under the new strategic alliance with Paramount Gold and Silver Corp. (AMEX: PZG; TSX). The Cieneguita project is a former producing mine in Chihuahua Mexico. It is believed to be in the same mineralized trend and only 20 km away from Goldcorp’s El Sauzal mine, Mexico’s largest producing gold mine and adjacent to Paramount’s Andrea project. Cieneguita was last in production by Glamis Gold Ltd. between 1995 and 1998 prior to its acquisition by Goldcorp Inc.

The current drill program continues to intersect high grade mineralization both along strike and at depth. Drilling continues at this project to help better understand this mineralized system and to test its depth potential. Assays have now been received from 30 of 39 drill holes at the Cieneguita project.

Drill hole CI-25 intersected 46.50 m of 1.10 g/t Au, 332.60 g/t Ag, 0.35% Pb & 0.66% Zn, including: 10.95 meters of 2.13 g/t Au, 976 g/t Ag, 0.38% Pb & 0.96% Zn; and 13.45 meters of 1.30 g/t Au, 149.53 g/t Ag, 0.57% Pb & 0.68% Zn. Within CI-25 there were two very narrow high grade veins which intersected 0.15 m of 8.23 g/t Au, 5500 g/t Ag and 0.1 m of 8.84 g/t Au, 3130 g/t Ag

Drill hole CI-27 intersected 85.50 m of 0.70 g/t Au & 54.46 g/t Ag including: 7.50 meters of 1.54 g/t Au, 148.66 g/t Ag, 0.15% Pb & 0.32% Zn and 9.00 meters of 1.07 g/t Au, 82.47 g/t Ag, 0.18 % Pb & 0.22% Zn

Drill hole CI-29 intersected 30 m of 0.66 g/t Au, 58.75 g/t Ag, 0.45% Pb & 0.58% Zn including: 10.50 meters of 1.01 g/t Au, 92.71 g/t Ag, 0.37% Pb & 0.33% Zn,; 15 m of 1.77 g/t Au & 66.65 g/t Ag including 6 m of 3.55 g/t Au and 116.75 g/t Ag; 64.60 m of 0.56% Pb & 0.80% Zn; and 12.80 m of 0.28% Pb & 0.70% Zn.

For a complete assay table and maps of Cieneguita, please visit our website at http://www.mexoro.com/.

     Hole ID    From     To (m)    Interval  Au (g/t) Ag (g/t)   Pb     Zn                (m)                   (m)                        (%)    (%)       CI-25      0.00    25.20       25.20     0.53    66.34    0.44   0.74                52.00    98.50       46.50     1.10   332.60    0.35   0.66    Including   56.95    69.05       10.95     2.13   976.05    0.38   0.96    Including   69.05    82.50       13.45     1.30   149.53    0.57   0.68               279.30   293.90       14.60     0.19   110.31    0.25   0.63       CI-27     11.10    24.60       13.50     0.60    26.84    0.24   0.35                44.10   126.60       85.50     0.70    54.46    Including   56.10    63.60        7.50     1.54   148.66    0.15   0.32    Including  110.10   119.10        9.00     1.07    82.47    0.18   0.22       CI-28     61.50   158.00       96.50     0.62    61.75    Including   42.50    87.40       44.90     0.40    69.44    Including  113.00   120.50        7.50     1.16   143.24    Including  125.00   137.00       12.00     1.04   114.71       CI-29      5.00    56.00       51.00     0.50    55.03    0.34   0.46    Including   26.00    56.00       30.00     0.66    58.75    0.45   0.58    Including   45.50    56.00       10.50     1.01    92.71    0.37   0.33                81.50    96.50       15.00     1.77    66.65    Including   90.50    96.50        6.00     3.55   116.75               132.50   197.00       64.60                      0.56   0.80   End of hole 225.50   238.30       12.80                      0.28   0.70       CI-31      0.00    11.30       11.30     0.80     9.71                59.50    66.10        6.60     1.07   162.42    0.37   0.74               101.50   104.50        3.00     1.46       CI-32      4.10     7.55        3.45     0.90    68.75                46.50    61.00       14.50     1.89    84.01    0.22   0.29                76.50    80.30        3.80     1.10      Quality Control  

Mexoro takes digital photographs of the entire core before sampling. The samples are analyzed by ALS Chemex Labs in Vancouver, Canada. Samples are analyzed by Au (Atomic Absorption) plus an ICP multi-element package. We inserted certified standards, blankets and duplicates into all samples shipment to the laboratory. Half-core samples are retained in our storage for verification, reference and all other purposes

These results have been prepared under the supervision of Barry Quiroz, MSc., Mexoro VP of Exploration. He has the expertise and authority to verify the authenticity and validity of this data. The qualified person who has reviewed this news release is Dana C. Durgin, M. Sc. Economic Geology. He is a Certified Professional Geologist (CPG #10364) with the American Institute of Professional Geologists, and a Registered Professional Geologist in Wyoming (PG-2886).

About Mexoro:

Mexoro Minerals Ltd., is an exploration and production company focused on mining precious metals in the traditionally mineral rich Sierra Madre region of Chihuahua, Mexico which controls three historical gold-silver mines for which additional exploration has confirmed significant mineral potential. The Company also has claims on additional properties, in the Chihuahua area near Paramount’s San Miguel projects. Mexoro recently signed a Strategic Alliance with Paramount Gold and Silver Corp. (AMEX: PZG; TSX).

This Press Release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as “anticipates”, “believes”, “estimates”, “expects”, “plans”, “intends”, “potential” and similar expressions. The Company believes that the Cieneguita property is in the same mineralized trend and only 20 km away from Goldcorp’s El Sauzal mine. These statements reflect the Company’s current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company’s actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.

    Corporate Headquarters    Mexoro Minerals Ltd.    C. General Retana #706    Col. San Felipe, C.P. 31203    Chihuahua, Chih., Mx     Investor Relations +1 (613) 288-4288  

Mexoro Minerals Ltd.

CONTACT: Investor Relations, +1-613-288-4288, for Mexoro Minerals Ltd.

Web site: http://www.mexoro.com/