Mundoro Options Out Saje Lead-Zinc Project IN Bulgaria to New Partner
MUNDORO OPTIONS OUT SAJE LEAD-ZINC PROJECT IN BULGARIA TO NEW PARTNER
May 9, 2018, Vancouver, BC - Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) ("Mundoro" or
the "Company") is pleased to report that it has entered into an Option Agreement (“ Agreement”) with
an arm’s length third party private company (“ Private Company”) to which it has granted an option on
one of Mundoro’s exploration projects, the Saje Lead -Zinc Project lo cated within the Zvezda license in
southeastern Bulgaria.
CEO & President, Teo Dechev commented "We are delighted to have signed this Agreement with a new
partner in the region. Mundoro is achieving our corporate strategy to work with partners on sele ct
projects within our portfolio while retaining 100% ownership over a core portion of our portfolio.
Realising value from our existing portfolio of over 10 licenses with multiple targets on various license is a
key focus for the Company.”
Summary of Terms
Under the terms of the Agreement, the Private Company has committed to drill a minimum of 1000
meters on the Saje Project (“ Option Period”). Thereafter, the Private Company will have one month to
provide written notice to enter into an agreement with Mundoro in respect of the Saje Project. The
Private Company is sole funding all costs during the Option Period. Upon entering in to an agreement,
the Private Company will pay to Mundoro annual advance royalty payments in January of each calendar
year until commercial production. Mundoro will retain a 2% net smelter returns (“ NSR”) royalty on any
metals production at the Saje Project. The Saje Project has no carrying value in the Company's balance
sheet as at December 31, 2018.
Saje Lead-Zinc Project Information
The Saje deposit is located within Mundoro’s 100% owned Zvezda exploration licence area. The S aje
deposit is a brownfield area that was initially explored starting in the 1960’s and exploited by a
government run company from 1984 to 1992 for Lead and Zinc with by products of Copper and Silver.
The deposit is situated in the western part of the Spa hievo ore field at the eastern border of a rhyolite
caldera. It is comprised of structurally controlled alteration zones, some of which are the main ore
bearing zones. Zones are hosted in Eocene -Oligocene andesites intruded by monzonite pluton. The
width o f the ore zones vary from 1 m to 17.8 m. The ore mineralization is represented by galena,
sphalerite and chalcopyrite. Table 1 below summarises the underground production from the deposit
from 1984 to 1992 by the government run company:
Period Ore
(kT)
Grade Content Metals
Pb,
%
Zn,
%
Cu,
%
Ag,
ppm
Cd,
ppm
Pb,
t
Zn,
t
Cu,
t
Ag,
kg
Cd,
kg
1984-1992 425.5 1.86 1.23 0.24 7.9 71 7909 5227 1017 3373 30000
The historical production figures for the Saje deposit from 1984 to 1992 are derived from a report
prepared in 1998 by the Government run company "Gorubso -Kardjali EAD". This report is held with the
Bulgarian National Geological Fund, who have made it available for public review. The qualified person
has reviewed this report and verified the contents of the report and its conclusions. Nevertheless, the
company does not have access to all underlying data and information used to prepare the report, and
neither the qualified person nor the company are able to verify the reliability of the production figures
or the key assumptions, methods and parameters used to prepare them.
Further Joint Venture Discussions
Mundoro ended Q1 -2018 with approximately C$4.7 million in treasury with the Timok North Projects
optioned to JOGMEC; and the Timok South Projects, which is the largest contiguous exploration area in
the Timok district available for joint venture. The Company continues to have ongoing discussions
regarding potential joint ventures for Mundoro’s Timok South Projects Iicenses: Savinac, Sumrakovac,
Bacevica and Osnic. Although there are ongoing discussions, the Company cannot provide assurance
that a transaction will be concluded as a result of these discussions.
Qualified Person
Technical information contained in this Press Release has been reviewed and approved by Mr. G.
Magaranov, P. Geo., 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 mineral exploration and development public company focused on building value
for its shareholders through directly investing in mineral projects that have the ability to generate future
returns for shareholders. The Company currently holds a diverse portfolio of projects in two European
countries as well as an investment in a producing gold mine in Bulgaria and a feasibility stage gold
project in China. The Company holds eight 100% owned projects in Serbia, the four Timok North Projects
are in option to JOGMEC, and the four Timok South Projects are being advanced by
Mundoro. Mundoro’s common shares trade on the TSX Venture Exchange under the symbol "MUN".
For further information please contact:
Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking information and statements (“forward-looking statements”)
under applicable securities laws. All statements, other than statements of historical fact, included or
incorporated by reference in this News Release are forward -looking statements, including, with out
limitation, the completion of exploration work on any Projects and licenses and results of that
exploration work, the prospect of one or more joint ventures on the Timok South Projects and other
statements regarding activities, events or developments that the Company 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", “promising”,
“encouraging” 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 stat ements 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 a nd Mundoro
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.
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