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MUN Mundoro Capital Inc

0.21
0.00 (0.00%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Mundoro Capital Inc TSXV:MUN TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.21 0.20 0.21 0.21 0.21 0.21 73,022 17:51:48

Mundoro Commences Drill Program at Borsko Jezero Property Within the Timok Complex in Serbia

10/06/2013 2:00pm

Marketwired Canada


Mundoro Capital Inc. (TSX VENTURE: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

Qualified Person

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mundoro Capital Inc.
Teo Dechev
CEO, President and Director
+1-604-669-8055
info@mundoro.com
www.mundoro.com


Roth Investor Relations
Michelle Roth
+1-732-792-2200

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