Bulgaria

    Bulgaria


     

     
    •     EU member since January 2007
    •     Mining Law established 1999
    •     Source of base and precious metals since Roman times
    •     Emerging precious metals belt
    •     Highly skilled and affordable labour force
    •     Corporate tax rate of 10%
    •     Unrestricted transfer of profits and capital

    Geographic Location and Population

    Bulgaria is located in the central part of the Balkans. It is in Southeastern Europe at a strategic location near the Turkish Straits which controls key land routes from Europe to Middle East and Asia. The country borders the Black Sea (east), Romania (north), Turkey and Greece (south) and Serbia and Macedonia (west). Bulgaria has a population of over 6.9 million. Its capital, Sofia, which lies in the western region of the country, has a population of over 1.2 million. Ethnic groups include Bulgarian, Turkish, Roma, and others. The official language is Bulgarian.

    Prospectivity

    Bulgaria is located in the heart of the Balkans and occupies an area famous with its traditions in mining and metallurgy. There are many mineral deposits and major occurrences distributed throughout the country. Bulgaria has a long established mineral resources industry which we believe provides opportunity for investors with a long term view into this emerging precious metals belt.

    Founded in 681, Bulgaria is one of the oldest states in Europe. Bulgaria is a parliamentary republic and has been a member of the European Union since 2007. The National Assembly consists of 240 deputies who are elected for 4-year terms through a mixed electoral system. Parliament selects and dismisses government ministers, including the prime minister, exercises control over the government, and sanctions deployment of troops abroad. It is responsible for enactment of laws, approval of the budget, scheduling of presidential elections, declaration of war, and ratification of international treaties and agreements.

    Tourism, agriculture, and the mining of coal, copper, and zinc are the leading industries. Bulgaria’s economic freedom score is 64.7, making its economy the 61st freest in the 2012 Index.

    Sources: Bulgaria - Heritage   Bulgaria – Mining Policy and Regulations   Legislation Bulgaria   The World FactBook: Bulgaria   IFC

    Zvezda

     Target:

    Epithermal Gold and Silver, sediment hosted Gold and porphyry Copper- Gold deposits

     Location:

    Zvezda license area is located in the Southeastern Rhodopean Region, Bulgaria

     Area:

    16,100 hectares (161 square kilometers)

     Minerals:

    Gold, Silver, Copper

     Ownership:

    100% (Bulgaria Alpha EAD)

     Overview:

    Greenfields and brownfields exploration; Acquired in March 2013

    The Rhodopean Region hosts a number of epithermal gold deposits in various stages of exploration and development. The Zvezda property is in a well-known mineral district that has been underexplored for epithermal low sulphidation Gold (Au) -- Silver (Ag) veins, as well as disseminated, sediment hosted Gold (Au) and porphyry Copper (Cu) -- Gold (Au) deposits.

    The gold potential of this region is evidenced by the operations in the surrounding area such as:
    • A currently operating gold mine which is adjacent to Zvezda and is an epithermal gold deposit with non NI 43-101 compliant reserves of 1.5 Mt @ 9.83 g/t Au containing approximately 500,000 ounces gold; and
    • Krumovgrad, a development stage project which is southeast of Zvezda and hosts the Ada Tepe gold deposit which has a reported resource of 7.24 Mt @ 3.36 g/t Au or 781,000 Au ounces and 1.93 g/t Ag or 450,000 Ag ounces.

     News:

    September 16, 2014: Mundoro Identifies New Porphyry and Epithermal Targets at Bulgaria Projects

    May 12, 2014: Mundoro Provides Update on Bulgarian Mineral Properties

    December 3, 2013: Mundoro Provides Progress on Exploration Programs and Reports $0.28 per Share Cash Value at End of Q3-2013

    April 15, 2013: Mundoro Announces NI 43-101 Report for Borsko Jezero Copper-Gold Property in Serbia

    March 14, 2013: Mundoro Wins Tender & Signs Exploration Contract

     

    Byalo

     Target:

    Epithermal Gold and Silver, sediment hosted Gold and porphyry Copper- Gold deposits

     Location:

    Byalo license area is located in the Southeastern Rhodopean Region, Bulgaria

     Area:

    16,100 hectares (161 square kilometers)

     Minerals:

    Gold, Silver, Copper

     Ownership:

    100% (Bulgaria Alpha EAD)

     Overview:

    Greenfields and brownfields exploration; Acquired in October 2013

    The Rhodopean Region hosts a number of epithermal gold deposits in various stages of exploration and development. The Byalo property is in a well-known mineral district that has been underexplored for epithermal low sulphidation Gold (Au) -- Silver (Ag) veins, as well as disseminated, sediment hosted Gold (Au) and porphyry Copper (Cu) -- Gold (Au) deposits.

    The gold potential of this region is evidenced by the operations in the surrounding area such as:
    • A currently operating gold mine which is adjacent to Byalo and is an epithermal gold deposit with non NI 43-101 compliant reserves of 1.5 Mt @ 9.83 g/t Au containing approximately 500,000 ounces gold; and
    • Krumovgrad, a development stage project which is southeast of Byalo and hosts the Ada Tepe gold deposit which has a reported resource of 7.24 Mt @ 3.36 g/t Au or 781,000 Au ounces and 1.93 g/t Ag or 450,000 Ag ounces.

     News:

    September 16, 2014: Mundoro Identifies New Porphyry and Epithermal Targets at Bulgaria Projects

    May 12, 2014: Mundoro Provides Update on Bulgarian Mineral Properties

    December 3, 2013: Mundoro Provides Progress on Exploration Programs and Reports $0.28 per Share Cash Value at End of Q3-2013