MINDENAO GOLD MINING (fka MDGM)

[Alex Chory]

Mindenao Gold Agrees to Merge

VERNON, BC, Jan 26, 2006 (MARKET WIRE via COMTEX) -- Mindenao Gold Mining Corp.(OTC: MDGM) has executed a final agreement to merge with Grand Pacaraima Gold Corporation. Under the terms of this agreement, the formal name of the newly merged entity shall be Grand Pacaraima Gold Corporation. Extremely mineralized properties are in the Pacaraima region located in Southern Venezuela near the borders of Brazil and Guyana. Full development and mining rights have been acquired for the Cerro Trompa Mine located 8 kilometers northeast of Icabaru, plus other mining properties including the San Miguel, Mosquito and Zapata Mines. The primary concession was granted in 1981 for 40 years on properties 3500 meters long by 3000 meters wide or approximately 4 square miles.
"Reserves of these extremely substantial properties have been estimated by Professor Rodrigues at $580 million based upon $350 gold prices. Selected samples of 80.86 grams per ton or 2.6 troy ounces per ton were recovered from the Cerro Trompa's 1580 foot elevated peak with five strike zones," stated Manuel Castora, senior partner with the Castora Family Partnership. Based upon additional sampling and assays in coming months, development is expected to commence this year.