MUNDORO COMMENCES DRILL PROGRAM AT BORSKO JEZERO PROPERTY WITHIN THE TIMOK COMPLEX IN SERBIA
June 10, 2013, Vancouver, BC – Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) (“Mundoro” or the “Company”) announces the commencement of the drill program at its 100% owned Borsko Jezero copper-gold property, located in Bor, Serbia. Borsko Jezero is situated within the Timok Magmatic Complex and is directly west of the Bor Cu-Au Mine and northwest of the Reservoir/Freeport McMoRan Timok Project JV (Timok JV) which recently reported high grade copper and gold drill assay results.
Teo Dechev, CEO and President of Mundoro commented, “Exploration work at Borsko Jezero has progressed very quickly since Mundoro was awarded the license less than one year ago. Drilling is scheduled to begin by the end of June. Based upon overall exploration results to date, the Company has prepared an initial drill program for 4,000 meters which is sufficient to test three main target areas. The first target area is located at the southwest corner of the property and is within the same structural lineaments as the Timok JV, as interpreted by regional magnetic geophysical data. The second target is 2 kilometers directly west of the currently producing Bor Mine, while the third target is located near the northeastern boundary of the license along strike of RTB Bor’s new Au-Cu discovery (see Figure 1).”
Since acquiring the property in July 2012, the Company has compiled and re-interpreted historical data which initially identified the anomalous areas. In April 2013, the Company completed the NI 43-101 report “A Technical Review of the Borsko Jezero Copper-Gold Property, Bor, Serbia, For Mundoro Capital Inc.”, and the Audio-Frequency Magneto-Telluric (AMT) geophysical survey. In May 2013, the Induced Polarization (IP) chargeability survey was completed. As a result, Mundoro identified three anomalous areas one of which is on the magnetic geophysical corridor at the southern portion of the Borsko Jezero license area.
Mundoro contracted a drill operator who will mobilize this month to start drilling by the end of June. The drill operator has experience drilling in the region and is also capable of performing directional drilling if required.
Another development for Mundoro in the region which is part of the Company’s ongoing effort to build a regional presence in Southeastern Europe occurred in June 2013, when Mundoro through a local 100% owned subsidiary, acquired less than 5% equity interest in a gold producing Company in Bulgaria that operates adjacent to the Company’s Zvezda license.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
The technical information of this Press Release has been prepared and approved by Mr. G. Magaranov, the Qualified Person as defined by National Instrument 43-101. Mr. Magaranov is the Senior Exploration Manager, SE Europe for Mundoro Capital Inc. and is a P. Geo., EurGeol.
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 projects in Mexico and an investment in China project, is positioned to drive long-term, sustainable growth in order to attain production related cash flow 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.
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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.