Maudore Minerals Ltd.: Annual Meeting Update

MONTREAL, QUEBEC -- (Marketwire) -- 07/18/12 -- Maudore Minerals Ltd. (the "Company") (TSX VENTURE: MAO)(OTCBB: MAOMF)(FRANKFURT: M6L) announced today that the Company was successful in having the Ontario Superior Court of Justice dismiss a motion brought by dissident shareholders who sought to have their own set of rules imposed for the upcoming annual and general meeting of shareholders. The proposed rules would have usurped the role of the Company's by-laws and the discretion otherwise afforded to the chair of the meeting to conduct the meeting in a fair manner.

Ron Shorr, President and CEO of the Company, commented: "This judgment vindicates the actions of the Company to date and flies in the face of the accusations of the dissidents that they have been treated in an unfair or prejudicial manner."

In a related proceeding, the court dismissed the application of the Company to prevent the dissidents from voting their shares on the basis that they misused confidential information of the Company in the course of their attempts to take-over control of the Company. The Company intends to file a notice of appeal to resolve these allegations on an expedited basis.

Ron Shorr added, "The Company thanks shareholders for their tremendous support and is very pleased with the record high voter turnout at such a fundamental time in the Company's evolution."

The Company reminds shareholders that it is not too late to change your vote and to support the management slate of directors. If you have already voted using the yellow dissident proxy or voting instruction form, you may revoke your vote by depositing a BLUE proxy or voting instruction form in favour of the management slate. A properly completed BLUE form of proxy or voting instruction form will override and supersede any earlier form of proxy or voting instruction submitted by you in respect of the meeting. If you have any questions about your vote, please contact Kingsdale Shareholder Services at 1-866-230-2635 toll free in North America or at (416) 867 2272 outside of North America (collect calls accepted) or by email at contactus@kingsdaleshareholder.com.

On behalf of the Board of Directors of Maudore Minerals Ltd.:

Ronald Shorr, Chief Executive Officer

The TSX Venture Exchange has not reviewed this release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Maudore Minerals Ltd.

Ronald Shorr

Chief Executive Officer

514-761-1415

208-474-1560 (FAX)
info@maudore.com
www.maudore.com