Mundoro Receives TSX Venture Listing Approval & Completes 43‐101 Technical Report for Cuencame Property, Mexico
Suite 1401, 1030 West Georgia Street Vancouver, BC, Canada V6E 2Y3 telephone: (604) 669‐8055 facsimile: (604) 669‐8056 e‐mail: [email protected] www.mundoro.com
MUNDORO RECEIVES TSX VENTURE LISTING APPROVAL & COMPLETES 43‐101 TECHNICAL REPORT FOR CUENCAME PROPERTY, MEXICO
September 30, 2011, Vancouver, BC ‐ Mundoro Capital Inc. (“Mundoro” or the “Company”) is pleased to announce it received final approval to list its common shares for trading on the TSX Venture Exchange (“TSXV”) under the symbol "MUN". The Company has also received a National Instrument 43‐101 (“NI43‐ 101”) technical evaluation report ("Technical Report") for the Company’s 100% owned Cuencame Property located in Durango State, Mexico.
The Company earlier announced a voluntary delisting from the Toronto Stock Exchange (the “TSX”) where Mundoro’s common shares had traded under the symbol MUN up to and including September 29, 2011. In order to maintain continuity and liquidity for our shareholders, Mundoro applied to and received final approval from the TSXV to have its common shares commence trading on the TSXV as of September 30, 2011 under the symbol "MUN".
Mundoro received a NI 43‐101 compliant Technical Report on the Company's 100% owned Cuencame Property which covers approximately 45,215 hectares (452 sq km) in three mineral concessions. The Technical Report was independently compiled and submitted by Geologica Groupe‐Conseil Inc (Geologica) of Val‐d’Or, Quebec, Canada. The report is supported by a field visit held in August 2011 and rock sampling by Geologica confirmed that the observed limestone belong to the favorable host sedimentary Tertiary stratigraphic units and formations hosting several local polymetallic skarn replacement and/or epithermal vein‐type deposits present in the immediate and far area. In the light of these observations and results obtained during the recent visit, three types of mineralization could be recognized to be potentially present on the Cuencame Property: 1) Vein‐type and mantos containing polymetallic (Pb, Zn, Cu, Ag, Au) mineralizations; 2) Vein‐type (epithermal) containing precious metals (Au, Ag); and 3) Porphyry copper‐type with disseminations, veins and veinlets network of copper minerals associated with altered and fractured differentiated intrusions of felsic to mafic composition. The Technical Report recommends a two phase exploration program consisting of initial surface exploration followed by a trenching and diamond drilling program.
The Company opened a regional exploration office in Durango and has initiated hiring staff and engaging contractors to commence the first phase of field work in Q4 2011. This will be organized under the supervision of Michel Cormier, Vice‐President Exploration for Mundoro and a “Qualified Persons” as defined by NI43‐101. Mundoro has also submitted applications for additional 12 concessions (184,249 hectares) located in Durango and Chihuahua States, Mexico.
Teo Dechev, President and CEO of Mundoro, commented, “We are pleased to have received TSXV listing approval which will now provide continued and seamless trading liquidity for shareholders. Mundoro is efficiently executing its project generation and exploration strategy in Mexico with the recently completed NI43‐101 Technical Report outlining an exploration program to evaluate the mineral prospects for the Cuencame Property. Further to our exploration strategy, the Company’s project generation program expands beyond Mexico as our exploration team is currently evaluating prospects in Europe.”
On behalf of the Company,
Teo Dechev, Chief Executive Officer and President
About Mundoro Capital Inc.
Mundoro is a Canadian based company which operates as a mineral exploration, development and investment company. The Company has an interest in the Maoling Gold Project, which is a prefeasibility stage project with a significant gold resource in Liaoning, China, through its wholly owned subsidiary MMI. The Company has entered into a Share Purchase Agreement to sell 95% of the issued and outstanding shares of MMI to China National Gold Group Hong Kong Limited. The Company will retain 5% of the issued and outstanding shares of MMI. Mundoro has an active project generation program in Mexico where it has been granted title for the Cuencame Property (approximately 45,215 hectares) and has made application for twelve additional mineral concessions in Durango and Chihuahua States. Mundoro is well funded to advance its projects with approximately US$8.3 million in cash and cash equivalents. Mundoro has 38.4 million shares issued and outstanding and 40.6 million shares on a fully diluted basis.
The National Instrument 43‐101 technical report described herein on the Cuencame Property was prepared by Alain‐Jean Beauregard, P.Geol. and Daniel Gaudreault, Ing. Geol., both “Qualified Persons” as defined by NI43‐101. The technical report was prepared under the supervision of Michel Cormier, Geol ‐Eng., who is the Company’s “Qualified Person” under the definition of NI43‐101 and has reviewed the contents of this news release.
Forward‐Looking Statements
The statements herein that are not historical facts are forward‐looking statements. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in the company’s periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward‐looking statement.
The TSX has neither approved nor disapproved of the information contained herein.
Contact Information
For further information please contact Mundoro Capital Inc. at +1‐604‐669‐8055.