MINE Minerco Inc (CE)

Minerco Resources, Inc. (OTCBB: MINE), a progressive developer, producer and provider of clean, renewable energy solutions in Latin America, announced today the company has obtained the rights to the US$140 million, 30 Year Operations Contract with the Honduran government for its Chiligatoro Hydro-Electric Project.

The Chiligatoro Project's 30 Year Operations Contract, granted by Secretaria de Recursos Naturales y Ambiente ("SERNA"), Honduras's Natural Resources and Environmental Ministry, establishes an initial capacity of 5.2 mega-watts per hour (MW-h) for a term of 30 years. As previously released, consideration for increased capacity can be obtained based on final plant design and SERNA approval. Minerco expects to receive increased capacity approval after submission of the Final Design.

The Operations Contract defines an initial capacity of 5.2 MW-h, which equates to 45,552 mega-watts per year, and a term of 30 years for a total of 1.37 million mega-watts over the term of the agreement. The Contract also grants a "First Right of Refusal" for renewal and allowances for all generation, sales and transmission of energy from the Chiligatoro Project. Additionally, the "Transmission Clause" provides Minerco with the ability to charge transmission fees from other operators through the Minerco owned transmission lines.

The Contract requires approval on land purchases, environmental impact and local community approval. The Contract then passes to the Honduran National Congress for ultimate approval. Once approved by Congress, the Chiligatoro Operations Contract becomes a recorded Honduran law.

Energy sales rates are defined by National Decree, based on season and peak hours and paid in US Dollars for the life of the Contract. Rates are based on the Short Term Marginal Cost which is US$97.96 MW-h for the year 2010 as published by SERNA. For electricity generation projects utilizing renewable energy, Honduran Law has provided a 10% price incentive over the short-term marginal cost for a period of 15 years and a tax exemption for a period of 10 years.

The Operations Contract defines a sales rate of US$107.76 per MW-h (with incentive) for the first 15 years, or US$73.6 million. The following 15 years will utilize a rate of US$97.96 per MW-h, or US$66.9 million. Based on the quoted Short Term Marginal Costs and legislative incentives, the 30 Year Chiligatoro Operations Contract is valued at US$140.5 million.

"Concluding these negotiations and obtaining the rights to the US$140 million, 30 year Operations Contract for our Chiligatoro Project is a major accomplishment for Minerco and our shareholders. This Agreement not only landmarks our new green energy vision for Honduras and Latin America but will be a significant source of revenue and growth for our company. Working with the government and people in Honduras has been fascinating and enjoyable. I, and Minerco, look forward to a long and mutually beneficial relationship in Honduras," said V. Scott Vanis, President and CEO of Minerco.

Safe Harbor Statement This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements. C. Jones Consulting, Inc. is being compensated $4000.00/month to handle Investor Relations.

Please contact: C. Jones Consulting, Inc. cjones@cjonesconsulting.com