DRILLING UNDERWAY AT MUNDORO’S BORSKO JEZERO PROPERTY NEAR BOR, SERBIA
July 8, 2013, Vancouver, BC – Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) (“Mundoro” or the “Company”) announces that drilling on site has commenced on the 100% owned Borsko Jezero copper-gold property. Borsko Jezero is located within the Timok Magmatic Complex (TMC), directly west of the Bor Cu-Au Mine and near both the Veliki Krivelj Mine and the Cerovo Mine.
Mundoro has 49 kilometers long continuous ground on the TMC and is exploring along various areas of interest in the Borsko Jezero, Savinac, Bacevica and Sumrakovac licenses.
Teo Dechev, CEO and President of Mundoro commented, “This first phase scout drill program is initially targeting three main areas within the Borsko Jezero property. The three main areas have anomalies that were interpreted by regional geophysical data and are completely undercover. This first phase scout drill program is intended to provide the Company with a preliminary understanding of the geology, geologic structure and orientation in order to be used to define a second phase detailed geophysics program and drill program. The Company will provide an update after all the assay results and interpretations have been completed.”
Greenfields exploration in Serbia has gained wider prominence after Freeport McMoRan elected to solely fund their JV with Reservoir Minerals (Timok JV) in August, 2012. Serbia has an excellent infrastructure with easy access to the national power grid. The region has had a long history of exploration and mining, with modern mining starting in 1903. However exploration activity was limited until recently as government agencies had been previously focused on mining rather than exploration. The TMC, which hosts significant Gold Copper (Au-Cu) porphyry deposits such as Bor and Majdanpek in Serbia, is a segment of the Tethyan Metallongenic Belt which stretches from Eastern Europe to Southeast Asia.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
Sampling, Analysis and Qualified Person
The technical information of this Press Release has been prepared and approved by Mr. G. Magaranov, P. Geo., the Qualified Person as defined by National Instrument 43-101. The technical review of the Borsko Jzero Copper-Gold Property in Bor, Serbia was prepared by D. Power-Fardy, P.Geo., EurGeol and Senior Geologist with Watts, Griffis and McOuat Limited, Consulting Geologists and Engineers of Toronto, Canada, and G. Magaranov, P. Geo., EurGeol and Senior Exploration Manager, SE Europe for Mundoro Capital Inc. Mr. Power-Fardy is independent of Mundoro. Their review and report are in compliance with Canadian Securities Administrators’ National Instrument 43-101 (“NI 43-101”) and definitions of the Council of Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) standards.
About Mundoro Capital Inc.
Mundoro is a well-funded, Canadian based, company focused on mineral acquisition, exploration, and development. Our primary focus is advancing our properties on the Tethyan Belt in Southeastern Europe. Mundoro has methodically acquired a district-scale land position on this prolific mineral belt which hosts significant Gold-Copper porphyry and related epithermal deposits. Our strong project pipeline, which also includes assets in Mexico and China, is positioned to drive long-term, sustainable growth in order to attain production and shareholder return.
Caution Concerning Forward-Looking Statements
Information included, attached to or incorporated by reference into this News Release may contain forward looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Board expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the Company’s future strategy and business plan and execution of the Company’s existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, changes in law, regulatory processes, the status of Mundoro’s assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company’s filings with the Canadian securities regulators available on www.sedar.com.
Neither 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.
For further information please contact Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055 or Michelle Roth, Roth Investor Relations at +1-732-792-2200.