Mundoro Provides Corporate Outlook FOR 2017
MUNDORO PROVIDES CORPORATE OUTLOOK FOR 2017
JANUARY 20, 2017, Vancouver, BC - Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com)
("Mundoro" or the "Company"), is pleased to provide an overview of the Company's goals and growth
plans for the coming year. Mundoro enters 2017 with approximately C$5,000,000 in cash and no debt.
The Company will aim to build on the successes achieved during 2016. The list below outlines some of
the key catalysts and corporate growth plans for 2017:
Drill results expected in January from the Skorusa porphyry target located in the Sumrakovac
license in Mundoro’s South Timok Properties;
Exploration work from the ongoing ~C$400,000 (US$300,000) exploration program at the Borsko
Jezero license located in the North Timok Properties, funded by partner JOGMEC, has generated
targets where a drilling program is anticipated to commence in Q1/2017;
~C$2,000,000 (US$1,500,00 0) in exploration expenditures is anticipated over the four North
Timok Properties (Zeleznik, Borsko, Dubrava and Padina), funded by partner JOGMEC, from April
2017 to March 2018 as per the Amended Option Agreement announced August, 2016;
C$2,000,000 in exploration expenditures has been budgeted for calendar 2017 to advance the
exploration of the Company's 100% owned projects in Serbia and Bulgaria;
Mundoro will continue quality project generation and/or acquisition efforts using its mineral
occurrence database to secure key ground in Serbia and Bulgaria. The Company has applied for
two additional license areas in Bulgaria in 2016 and will continue this effort into 2017; and
At the same time the Company is continuing discussions with groups regarding the ir interest to
earn-in to Mundoro’s existing projects in Serbia and Bulgaria.
Mundoro’s President and CEO, Teo Dechev, stated: "We completed 2016 on budget, advanced our
portfolio of targets and brought a partner to our North Timok Properties in Serbia. We enter 2017 with a
steady flow of catalysts, for advancing existing discoveries and generating new ones in both (i) the North
Timok Properties, with our partner JOGMEC, and (ii) the South Timok Properties as well as the Bulgarian
properties which are Mund oro’s 100% owned projects. The Company is well -positioned to deliver
upside exposure to its shareholders while reducing exploration risk with partners funding exploration
work on a part of the project portfolio."
Please visit www.mundoro.com to sign up to receive press releases and corporate updates directly to
your inbox and to view the Company's latest corporate presentation, project pages, analyst coverage
and more.
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Stock Option Grant
The Company issued 938,000 stock options to its directors, officers, employees and contractors on
January 18, 2017. The stock options were issued in accordance with Mundoro’s Stock Option Plan and
are exercisable into common shares of Mundoro at $0.13 (bei ng the closing price on the TSX Venture
Exchange on January 17, 2015) over a five-year term.
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
and generating investment return for its shareholders through directly investing in mineral projects that
have the potential for mineral resource discovery or development. The Company has a diverse portfolio
of exploration projects primarily focused on gold and base metals in two European countries, Serbia and
Bulgaria, as well as Mexico and potentially North America. Mundoro (TSX-V:MUN) is funded to pursue it
strategy, has a technical team with proven e xploration success, a corporate team with established
capital markets relationships and a board of directors with a breadth of corporate governance
knowledge.
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 statements. Forward -looking statements can be identified
by the use of forward -looking words such as "will", "expect", "intend", "pla n", "estimate", "anticipate",
"believe" 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
mineral potential of the North Timok Properties, South Timok Properties, projects, properties, licenses,
the Company's future strategy, goals and business plan and execution of the Company's existing plans.
We caution readers of this News Release not to place undue reliance on fo rward 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 competitor s 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 www.sedar.com.
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.