Maudore Minerals Ltd. announced that the company and the Concerned Shareholders have settled their outstanding issues resulting in the election of a new Board of Directors comprising five nominees from the Concerned Shareholders and two members from the management slate. The new Board of Directors is comprised of: Kevin Tomlinson (Chairman), Dr. Howard Carr, George Fowlie, Keith Harris, Daniel Harbour, Robert Pevenstein and Raynald Vezina. The new Board of Directors has appointed Howard Carr as the Company's new Chief Executive Officer. Ronald Shorr has resigned from the company but will continue as a consultant to the company to ensure an orderly transition of management.