Mundoro Advances Exploration for Timok Portfolio; Mobilizing to Priority Skorusa East Target
Mundoro Advances Exploration for Timok Portfolio; Mobilizing to Priority Skorusa East
Target
March 2, 2026, Vancouver, BC - Mundoro Capital Inc. (TSXV: MUN | OTCQB: MUNMF |
www.mundoro.com) ("Mundoro" or the " Company") is pleased to provide an update on its
exploration activities across its portfolio in Serbia, where partner -funded drilling is advancing
multiple copper-gold targets and preparations are underway to test the high -priority Skorusa
East target. The Company also reports progress within its generative portfolio in Arizona, where
recent field work has refined target areas and partner engagement efforts continue.
Partner Funded Project Highlights
● Drilling at South Timok is expected to conclude by mid-March.
● Drilling is next scheduled for the Skorusa East target within the Central Timok project.
● Planning is underway to drill-test additional priority targets.
Generative Portfolio Highlights
● Recent field work has improved the understanding and definition of targets in Arizona.
● Site visits with interested parties are scheduled for Q1-2026
● Field teams are actively evaluating new generative opportunities.
BHP-Mundoro Projects (Serbia)
Mundoro's Central Timok, Trstenik, Borsko, and South Timok projects are being advanced under
option earn-in agreements with BHP. Under the agreements, BHP can earn 100% of the projects
by meeting staged exploration expenditure requirements and solely funding exploration.
Throughout the option period, Mundoro will receive annual option payments, operating fees,
and will retain a 2% Net Smelter Return (NSR) royalty upon the exercise of this option.
South Timok Project: Technical Update
The inaugural 2,500-meter diamond drilling program at the South Timok Project commenced on
January 26, 2026¹. This program was designed to test three primary targets identified by
integrated datasets outlining multiple coincident geophysical anomalies. The se anomalies are
characterized by resistivity signatures —potential indicators of hydrothermal alteration —and
magnetic signatures, which may indicate an underlying intrusive body.
Initial drilling progress has been slower than anticipated due to the presence of poorly solidified
sedimentary sequences. As these geological conditions have prevented the primary target
areas from being adequately tested, the Company is in discussion with the drilling company to
determine technical improvements to drilling to ensure the successful testing of these targets.
Drilling at South Timok will be paused following the completion of the current holes, and
anticipated to resume later in the 2026 schedule, after optimized drilling techniques are
confirmed.
Central Timok Project: Strategic Focus for 2026
The Exploration Technical Committee has elected to mobilize resources to the Central Timok
Project. The 2026 campaign at Central Timok will focus on the high -priority targets: Tilva Rosh,
Skorusa, and thereafter evaluate the Ma rkov Kamen, and Orlovo targets. These targets
represent compelling discovery opportunities based on integrated prior exploration data
including geophysical surveys.
Skorusa East Target
● Location: Skorusa East is part of the larger Skorusa license, located 5 km southwest of the
Bor Mine Complex and 4 km west of the Cukaru Peki deposit (see Figure 1).
● Geological Context: Skorusa features a significant 2 x 3 km alteration footprint related to
a copper-gold porphyry system.
● Historical Intercepts: Previous drilli ng intersected a wide mineralization halo, including
201.2 meters at 0.11% Cu and 0.11 g/t Au², confirming a large -scale system hosted in
volcano-sedimentary units with higher grades associated with potassic -altered diorite
porphyry dikes.
● The Opportunity: Skorusa East is defined by surface soil geochemical anomaly and
alteration zone, located immediately east of the Skorusa porphyry. Historic drilling
intersected hydrothermally altered andesite volcanics with trace disseminated
chalcopyrite and quartz -chalcopyrite-pyrite "B" veins, suggesting the existence of an
additional mineralized center.
2026 Drilling Campaign Outlook
The Joint Venture remains committed to a systematic and consistent exploration strategy
across the BHP -Mundoro portfolio. The planned dr illing for the 2026 calendar year remains
focused on testing multiple targets that have the potential for discovery of new large scale
porphyry copper-gold systems.
Figure 1: Regional map highlighting Central Timok target areas
Arizona Portfolio Update: Transition for Growth
The company is strategically focused on maximizing the value of its 100% owned Arizona project
portfolio. A key objective for 2026 is the transition of these projects into partner funded
agreements. The company is conducting site visits in Q1 2026.
Project Progress and Exploration Highlights
Copperopolis Project: The recent focus at the Copperopolis project has been on targeted,
supplementary mapping and sampling within the central license area. This work was designed
to establish a consistent geochemical dataset across the prospect to facilitate interpretation of
anomalies indicative of mineralization.
A specific emphasis was placed on prominent northwest -striking structures. These structures
are of significant geological importance as they represent major regional faults and fracture
systems that act as conduits for mineralizing fluids. Their orientation aligns with the established
regional structural trend that is known to host significant copper deposits in the area, including
the well-known Bagdad porphyry copper mine. By detailing the geochemical and structura l
relationship along these regional trends, the company is refining its understanding of the
controls on mineralization and vectoring toward high -priority targets. The successful
completion of this phase provides the foundational data required to advance the project.
Dos Cabezas Project: The exploration team is currently engaged in a comprehensive data
integration effort, combining the high-resolution aeromagnetic survey data with additional
geological information derived from detailed surface mapping and data from previously
completed drill holes.
The high-resolution aeromagnetic survey provides a detailed subsurface picture by identifying
variations in magnetic susceptibility, which can correspond to key lithological units, and
porphyry style alteration zones (e.g., magnetite destruction) as well as structurally controlled
zones. The ongoing integration process involves 3D modeling to ensure a cohesive and
predictive geological framework. This refined model and interpretation will be instrumental in
interpreting the geometry and depth extent of potential porphyry copper and related
mineralizing systems. The objective is to utilize this enhanced geological and geophysical
understanding to better identify and prioritize highly prospective drill targets for the next phase
of exploration, thereby maximizing the probability of a discovery and optimizing future drilling
efficiency.
Qualified Persons
R. Jemielita, PhD, MIMMM, a Qualified Person as defined by National Instrument 43 -101 and
consultant to the Company, has reviewed, verified and approved the disclosure of the technical
information contained in this news release.
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 ge nerates 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.
Follow our ongoing updates via: LinkedIn and X.
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 (Link), January 26, 2026 News release
² Mundoro Capital website (Link), July 6, 2021 News release
Caution Concerning Forward-Looking Statements
This News Release contains forward -looking statements. Forwar d-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 assu rance
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
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looking statements included in this News Release are made as of the date of this News Release
and the Bo ard 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
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