Mundoro Announces 2025 Year in Review and 2026 Exploration Outlook
Mundoro Announces 2025 Year in Review and
2026 Exploration Outlook
Vancouver, British Columbia--(Newsfile Corp. - January 8, 2026) -
Mundoro Capital Inc. (TSXV: MUN)
(OTCQB: MUNMF) (
www.mundoro.com
)
("
Mundoro
" or the "
Company
") is pleased to review the
progress achieved across the portfolio throughout 2025 and to present the exploration outlook for 2026.
Key Highlights 2025
Additional Exploration Licenses Optioned to BHP in Serbia
On October 13, 2025
¹, Mundoro entered into an option agreement with BHP for seven exploration
licenses ("BHP-Mundoro Central Timok Project") within the Timok Magmatic Complex in Serbia.
Under the terms, BHP can earn 100% by funding US$35 million in exploration over 10 years, while
Mundoro retains a 2% NSR royalty upon exercise and will earn annual option payments and
operating fees.
Drilling at BHP-Mundoro Trstenik JV (Serbia)
Drilling commenced in September 2025 at the North Central target, with the first hole reaching its
900-meter depth target². The technical team also upgraded the targeting for the Southern Target
areas (adjacent to the north end of the Majdanpek mine).
Strategic Capital Raise at a Premium
In November 2025, the Company completed an oversubscribed, non-brokered private placement,
raising C$1,517,500 at a price of C$0.26 per share, representing a premium to the prevailing
market price. Approximately C$665,000 of the financing was subscribed by company insiders.
This marked the Company's first capital raise since January 2021, which was completed at
C$0.16 per share, and demonstrates the effective execution of the prospect generator model by
limiting shareholder dilution while advancing projects through partner-funded exploration. The net
proceeds of the financing will be used to expand the Company's generative program in the western
United States, with a focus on copper opportunities.
Advancing Exploration in Arizona
Throughout 2025, Mundoro advanced its 100% owned Arizona portfolio into a more partner-ready
position. At Copperopolis, detailed mapping identified mineralization and structural features while
the new geochemical sampling collected throughout the year illustrated metal zonation that is being
used to vector toward potential concealed porphyry systems. At Dos Cabezas, the company
refined the geological model for a Laramide-age porphyry system through geochronology
confirmation and integration of Phase 1 drilling. The company updated data rooms to support third
party technical reviews, executed multiple confidential agreements, and continued commercial
discussion aimed at securing new partners.
2026 Exploration Outlook
Figure 1: Overview 2026 Outlook Serbia
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BHP-Mundoro Central Timok Project (Serbia)
Following the October 2025 agreement, the BHP-Mundoro Central Timok Project transitioned into
focused targeting through the establishment of a joint technical working group to integrate historical
datasets and rank drill targets across the seven licenses covering the project area. In early 2026, the
project will move into a prioritization stage, with the joint team combining Mundoro's local geological
expertise with BHP's global exploration methodologies.
Initial efforts in H1 2026 will concentrate on
following up on priority anomalies - particularly the Tilva Rosh and Skorusa target areas along with new
areas identified in the analysis - to finalize a multi-target drill program for the 2026 field season.
Main Targets BHP-Mundoro Central Timok Project
Tilva Rosh:
A large 8 sq.km. lithocap with a high-grade outcrop related to an epithermal system
at Tilva Rosh South where trenching returned 12 meters at 30.39 g/t Au and 171.27 g/t Ag³. The
area is considered to have deeper porphyry targets, with classic geochemical anomalies and
alteration zonation.
Drilling at Tilva Rosh has exposed numerous styles of porphyry style veins
including A, B, M, and D and anhydrite types and partly hydrothermally brecciated diorite porphyry
cut by sparse A-type quartz-magnetite veinlets and more abundant, narrow quartz-magnetite
veinlets of possibly Maricunga-type affiliation, in hole FMSC18006
4
.
Skorusa:
An alteration footprint mapped over an area of 2 km x 3 km, related to copper-gold
porphyry system where drilling intersected mineralization with an intercept of 201.2 meters at
0.11% Cu and 0.11 g/t Au
5
confirming the presence of a large volume, low grade halo of
mineralization hosted in volcano-sedimentary unit with Andesitic composition, with higher grades
associated with potassic altered diorite porphyry dikes containing stockwork veining with pyrite-
chalcopyrite.
Markov Kamen:
An important porphyry and epithermal target and part of a large elongated zone
of hydrothermal alteration covering approximately 14 sq.km. The lithocap is defined by a 4 km x
1.2 km zone of argillic and advanced argillic alteration. This area is identified by geochemical
anomalies with porphyry style zonation (Cu-Mo-Pb-Zn). The presence of high-sulphidation
epithermal mineralization and its location suggest it is linked to an undercover intrusive system.
Orlovo
: A copper-gold porphyry target characterized by a broad zone of phyllic alteration of 3 km x
700 m. Drilling confirmed a porphyry copper-gold system with quartz veining and remnants of
potassic alteration.
The target area is situated adjacent to calcareous sediments suggesting
potential for Carbonate Replacement Deposits (CRD).
Figure 2: Target Overview BHP-Mundoro Central Timok JV
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BHP-Mundoro Borsko - South Timok - Trstenik Projects (Serbia)
The company has commenced the permitting process for a new drilling campaign in the South Timok
Project in Q1 2026 to test target areas that have been identified through the integrated 3D modeling of
2025 data. Within the South Timok Corridor, the Company has completed comprehensive 3D
integration of its property-wide passive seismic, gravity, and AMT datasets to discriminate between
barren features and prospective mineralized centers. This unified model has been applied to finalize the
drilling proposal in Q4-2025, detailing specific collar locations and target sequencing for testing the
highest-priority areas beneath sedimentary cover.
Simultaneously, exploration at the Borsko Project will focus on Target 1, where a drill program is
specifically designed to test the roots of the preserved alteration lithocap for its interpreted mineralized
porphyry source.
For the Trstenik Project, a key priority while the Company awaits the term extensions from the Ministry of
Mining is the review of the completed first test drill hole into the Central North target while evaluating the
additional targeting areas with the re-interpreted 3D modelling of the various data sets collected from the
property.
JOGMEC-Mundoro Iskar (EE1) Project (Bulgaria)
Following a December 2025 court hearing for the EE1 project, Mundoro anticipates a conclusion to the
NGO appeal in mid-2026. A ruling would clarify the path forward for resumption of fieldwork and the
initiation of the proposed 1,800m drill program. This program is specifically designed to test the AMT
survey-identified conductive horizons for stratiform copper mineralization, marking the first modern test
of such a target in the district.
Arizona Portfolio
The Company's near-term objective for 2026 is to transition its three Arizona projects, Dos Cabezas,
Picacho, and Copperopolis, into third-party funded agreements.
Dos Cabezas
: Outlook through Q1-2026 focuses on finalizing a vectoring review of Phase 1
drilling to identify the potassic core relative to the drilled halos at Mescal Canyon-Mineral Park.
Fieldwork will aim to link surface anomalies at the Elma target with the historical mining structures
to define a unified search space for 2026 drilling.
Picacho
: Now considered "drill ready," the focus is on securing an option partner to fund the
maiden test of "blind" targets defined beneath the pediment.
Copperopolis
: In Q1-2026 focus will continue on detailed mapping of mineralized trend and
geochemical anomalies to identify further drill targets in addition to the Cu-Au porphyry target
identified at San Juan. The team aims to delineate intersections between these NW structures and
NE dike swarms, which often host high-grade porphyry stocks.
Generative Program
Mundoro has been ramping up the generative efforts to establish more properties for partnering or
selling to companies seeking new opportunities in the southwest USA.
USA:
The generative team is focusing on leveraging our proprietary dataset coupled with field
evaluations within the Laramide belt and evaluating additional metallogenic belts across the
Western USA.
Serbia and Bulgaria:
The generative team evaluates opportunities in the western Tethyan
regularly leveraging our proprietary database, local geological expertise and deep understanding
of the local regions in order to establish new properties for farm-outs.
Qualified Persons
The scientific and technical information described in this press release has been prepared in
accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-
101"). The scientific and technical information for the Arizona, Serbia and Bulgaria exploration programs
was reviewed and approved by R. Jemielita, PhD, MIMMM, a 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 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 to Mundoro and creates royalties
attached to each mineral property optioned to partners. The portfolio of mineral properties is currently
focused on predominantly copper in two mineral districts: Western Tethyan Belt in Eastern Europe and
the Laramide Belt in the southwest USA.
For more information, please visit
www.mundoro.com
.
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Latest
Corporate Presentation
.
For further information about Mundoro, please contact:
Teo Dechev, Chief Executive Officer, President and Director
Christian Elferink, Investor Relations Manager
+1-604-669-8055
References
1 Mundoro Capital website (
www.mundoro.com
), October 12, 2025 NR
2 Mundoro Capital website (
www.mundoro.com
), December 1, 2025 NR
3 Mundoro Capital website (
www.mundoro.com
), September 3, 2013 NR
4 Mundoro Capital website (
www.mundoro.com
), April 5, 2019 NR
5 Mundoro Capital website (
www.mundoro.com
), July 6, 2021 NR
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking statements. 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, and include the following: completion of
earn-in expenditures, options and completion of a definitive agreement by the parties. The material
assumptions that were applied in making the forward looking statements in this News Release include
expectations as to the mineral potential of the Company's projects, the Company's future strategy and
business plan and execution of the Company's existing plans. We caution readers of this News Release
not to place undue reliance on forward looking statements contained in this News Release, as there can
be no assurance that they will occur and they 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, exploration results,
commodity prices, 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, 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 SEDAR+ at
www.sedarplus.ca
.
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.
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