News

CHIHUAHUA, MEXICO -- MARCH 23, 2009 -- (MXOM.OB) (Frankfurt: OYA1). Mexoro Minerals is pleased to announce that it has repaid two of its secured convertible debentures to Paramount Gold and Silver Corp. in the amount of $1,000,000. A third debenture has been renegotiated in the amount of $521,047 of which $393,547 is due on March 31, 2009 and the balance is due on April 30, 2009. In making the $1 million payment, Paramount has released its security on the Cieneguita properties allowing Mexoro to initiate production. As part of the transaction, Mexoro has also issued to Paramount Gold and Silver Corp 150,000 restricted common shares.

Barry Quiroz, President of Mexoro, states, "Paramount releasing the Cieneguita property as security for the debentures is a key element for our joint venture agreement with Minera Rio Tinto. We anticipate the Minera Rio Tinto will now move more aggressively to put the property into production and initiate the feasibility study as part of our $9 million project financing agreement we have with them. We would anticipate setting up the new joint venture company immediately so that MRT can fulfill its contractual obligations."

About Mexoro

Mexoro Minerals Ltd. is an exploration stage company focused on exploring for 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. Dana C. Durgin, M. Sc. Economic Geology, has recently calculated an inferred mineralization of 15.25 million tons @ 2.62 g/t gold equivalent on the Cieneguita property. The Company also has claims on additional properties in the state of Chihuahua.

The qualified person who has done the geologic modeling and the resource calculation 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).

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. 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 included in this Press Release including such forward-looking statements.

Cautionary Note to US Investors:

All mineral materials have been calculated in accordance with the definition standards on mineral resources and mineral reserves of the Canadian Institute of Mining, Metallurgy and Petroleum referred to in Canadian National Instrument 43-101, commonly referred to as NI 43-101. U.S. SEC reporting requirements for disclosure are governed by SEC Industry Guide 7. NI 43-101 and Industry Guide 7 differ materially.

The United States Securities and Exchange Commission limits disclosure for U.S. reporting purposes to mineral deposits that a company can economically and legally extract or produce. We use certain terms in this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred" which may not be consistent with the reserve definitions established by Industry Guide 7. U.S. investors are urged to consider closely the disclosure in our filings with the SEC. You can review and obtain copies from the SEC website at http://www.sec.gov/edgar.shtml

Contact:
Stanley Wunderlich
Consulting for Strategic Growth 1
T: 646-205-7765 (Direct)
T: 800-625-2236 (ext 7770)
Email: swunderlich@cfsg1.com