Mundoro receives seventh exploration license in Serbia
VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 23, 2012) – Mundoro Capital Inc. (TSX VENTURE:MUN) (“Mundoro” or the “Company”) is pleased to announce the Company, through its wholly-owned subsidiary in the Republic of Serbia (“Serbia”), has received approval from the Serbian government for its seventh exploration license: Borsko Jezero. The Borsko Jezero license area totals 46 square kilometers (4600 hectares) and is located directly west of, and adjacent to, the Bor porphyry and high sulphidation ore body mining operation (see attached map: http://media3.marketwire.com/docs/BorskoJezero.pdf). The Company has now been granted a total of seven (7) exploration license areas in Serbia and has one additional application with the Ministry of Environment, Mining and Spatial Planning.
Teo Dechev, CEO and President of Mundoro, commented, “Mundoro has now grown its land position to a district scale exploration effort in the highly prospective Timok Magmatic Complex in the western portion of the Tethyan Metallogenic belt. We believe the addition of this license area which is directly adjacent to the license area of the Bor mine is a great addition to our exploration ground.”
The Borsko Jezero license area is located within the highly prospective world class Timok Magmatic Complex, Eastern Serbia. It occupies 46 sq. km approximately 2 km west of the Bor porphyry and high sulphidation Cu-Au deposit (porphyry 600 Mt @ 0.62% Cu, 0.25 g/t Au; high sulphidation 200 Mt @ 1.5% Cu, 0.8 g/t Au; Jelenkovic, 2007). The license area geology is made up of Upper Cretaceous subduction-related magmatic rocks which are host rocks of the world class Bor and Majdanpek deposits.
This technical information of this Press Release has been reviewed and approved by Mr. G. Magaranov, P. Geo., the Qualified Person as defined by National Instrument 43-101.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a Canadian based company which operates as a mineral acquisition, exploration, development and investment company. The Company’s target areas are the Tethyan belt in South Eastern Europe and the Meso Central Belt in Northwestern Mexico, both of which are prolific mineral belts the Company believes have strong exploration and development potential. Mundoro has methodically staked a district-scale land position with 12 mineral concessions covering 154,098 hectares in the Meso Central belt. We have successfully acquired seven mineral exploration licenses in Serbia within the well-known Timok Magmatic Complex which hosts significant Au-Cu porphyry deposits and related Au-Cu epithermal deposits. The Company maintains an interest in the Maoling Gold Project through its 5% interest in Mundoro Mining Inc. Maoling is a pre-feasibility stage gold deposit located in Liaoning Province, China.
Caution Concerning Forward-Looking Statements
Investors are encouraged to review ‘Risk Factors’ as outlined in the Company’s disclosure documents and other regulatory filings, available on the SEDAR website at www.sedar.com.
The statements herein that are not historical facts are forward-looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading “Risk Factors” in the company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
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.
Mundoro Capital Inc.
CEO, President and Director