Mundoro Advances Central Timok Project with Recent Skorusa East Drilling

Vancouver, British Columbia--(Newsfile Corp. - July 6, 2026) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to announce the completion of a 1,288.1 meters diamond drill program at the Skorusa East target within the Central Timok project (Figure 1) located within the Timok Magmatic Complex ("Timok") in Serbia. The Central Timok Project is part of the previously announced BHP-Mundoro option earn-in agreement¹ under which BHP is sole-funding all exploration activities.

Teo Dechev, Chief Executive Officer, President and Director, stated, "The completion of this initial drill program at Skorusa East marks a steady progression in our 2026 exploration program with BHP. We are encouraged by the data gathered, which aligns with our geological models and provides a clear path for follow-up drilling in the Central Timok project."

Humberto Brockway, Director of Exploration, stated: "The alteration profiles observed in these holes confirm that we are exploring the outer and western margins of a porphyry system. The transition from advanced argillic alteration through to phyllic and propylitic zones provides us with consistent vectors. This indicates that the system's core remains untested, and we have a clear target to guide our next phase of drilling."

Highlights

• The Phase I drill program comprised two diamond drill holes totalling 1,288.1 m at the Skorusa East target, which added an additional 288 meters in hole 26-SKO-09. Hole 26-SKO-08 was completed at a downhole depth of 499.8 m and hole 26-SKO-09 was completed at a downhole depth of 788.3 m. Downhole geophysics was subsequently completed in both holes.

• Hole 26-SKO-08 intersected a coherent outward alteration profile: advanced argillic alteration with vuggy silica to 65 m, transitioning to phyllic (sericite-pyrite) alteration to 317 m, and propylitic (epidote-pyrite) alteration to total depth. This alteration series is consistent with the outer alteration envelope of a porphyry system. Assay results are expected before the end of July 2026.

• Hole 26-SKO-09 intersected an intense advanced argillic alteration sequence to 430 m depth, comprising kaolinite-pyrite to approximately 80 m and transitioning into intense quartz-alunite-dickite assemblage with residual quartz and well-developed vuggy and gusano textures to 430 m depth. Below 430 m, alteration grades through phyllic (chlorite-sericite) to propylitic alteration to total depth of 788.3 m, defining the western margin of the interpreted Skorusa East porphyry system. Assay results are expected before the end of July 2026.

• Together, holes 26-SKO-08 and 26-SKO-09 are interpreted to be intersecting the outer margins, see Figure 2, of a copper-gold porphyry system where the potassic core remains untested. The alteration vectors and coincident magnetic and geochemical anomalies support continued drill testing toward the system's inferred centre.

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Discussion of Results at Skorusa

Skorusa East

Hole 26-SKO-08 (499.8 m) intersected a well-defined outward alteration sequence characteristic of the peripheral zone of a copper-gold porphyry system. Advanced argillic alteration with vuggy silica textures from surface to 65 m transitions downward into a broad phyllic (sericite-pyrite) interval to 317 m, giving way to propylitic (epidote-pyrite) alteration to total depth. The progressive outward zonation — from advanced argillic through phyllic to propylitic — is consistent with positioning at the distal margin of the potassic alteration envelope and supports the presence of a more intact potassic core beneath the drilled section.

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Hole 26-SKO-09 (788.3 m) intersected an intense advanced argillic alteration system extending to 430 m depth, comprising kaolinite-pyrite to approximately 80 m and transitioning into a very intense quartz-alunite-dickite assemblage with residual quartz and characteristic vuggy and gusano textures. Below 430 m, alteration grades through phyllic (chlorite-sericite) into propylitic alteration at total depth, defining the western margin of the Skorusa East porphyry system. See Figure 3.

The phyllic and advanced argillic overprint intersected in 26-SKO-09 is interpreted to be rooted in the centre of the porphyry system, likely positioned beneath a coincident low-magnetic anomaly.

Historic holes at Skorusa East intersected the potassic-altered core with low-density quartz stockwork (fewer than 10 veinlets per metre) and predominantly pyrite over chalcopyrite, suggesting that a more intact porphyry centre within pristine potassic alteration, with higher chalcopyrite-to-pyrite ratios, remains to be tested.

Together, holes 26-SKO-08 and 26-SKO-09 are interpreted to be intersecting the outer margins, see Figure 2, of a copper-gold porphyry system where the potassic core is considered to remain untested. The alteration vectors and coincident magnetic and geochemical anomalies support continued drill testing toward the system's inferred centre.

To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/2408/303983_9ea5fa9974792b2d_003full.jpg

Skorusa West

Of additional potential in the broader Skorusa area, covering a 3 km x 3 km alteration system, exists the Skorusa West target where previously drilled holes intersected the potassic-altered core with low-density quartz stockwork (fewer than 10 veinlets per metre) and predominantly pyrite over chalcopyrite. The porphyry suite comprises at least two phases, an inter- and late-mineral porphyry. The current geological interpretation suggests that the program has drill-tested the south-eastern limit of the system, leaving the entire remainder open to the north-west.

Qualified Persons

The scientific and technical information in this news release has been prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects. The scientific and technical information has been reviewed and approved by Humberto Brockway, EurGeol, Qualified Person as defined by NI 43-101 and Chief Geologist to the Company.

About Mundoro Capital Inc.

Mundoro is a publicly listed company on the TSX-V in Canada and the OTCQB in the USA, with a portfolio of mineral properties focused primarily on base and precious metals. To drive value for shareholders, Mundoro's asset portfolio generates near-term cash payments and creates royalties attached to each mineral property optioned to partners. The portfolio is currently focused on copper in two mineral districts: the Western Tethyan Belt in Eastern Europe and the Laramide Belt in the southwest USA.

ON BEHALF OF THE BOARD OF DIRECTORS OF MUNDORO,Teo Dechev, Chief Executive Officer, President and Director

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References

¹ Mundoro Capital website, April 16, 2026 news release: Mundoro Commences Drilling at High Priority Skorusa East Target.² Mundoro Capital website, October 13, 2025 news release: Mundoro Announces Option Agreement with BHP for Exploration Licences in Central Timok, Serbia

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements. Forward-looking statements can be identified by forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", or "continue", or the negative thereof, and include statements regarding: completion of earn-in expenditures and options; anticipated assay results and timing; interpretation of exploration results; proposed follow-up drilling; relocation of the drill rig to the Tilva Rosh South target; and execution of the Company's existing plans and future business strategy. The material assumptions applied in making these forward-looking statements include expectations as to the mineral potential of the Company's projects, continued access to exploration licences, and the ability to fund and execute the exploration programme. Actual results may differ materially from those expressed or implied by forward-looking statements. Factors that could cause actual results to differ include general economic and market conditions, exploration results and their interpretation, commodity prices, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, and the actions of competitors. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Forward-looking statements are made as of the date of this news release and the Company undertakes no obligation to publicly update such statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties; for a more detailed discussion refer to the Company's filings with Canadian securities regulators available on SEDAR+ at www.sedarplus.ca.

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