Mundoro Capital Inc.
TSX : MUN

Mundoro Capital Inc.

March 13, 2009 12:07 ET

Mundoro Adds to Its China Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2009) - Mundoro Capital Inc. (the "Company") (TSX:MUN) is pleased to announce two appointments. The appointment of Richard Mundie to Board of Directors ("Board") of Mundoro Mining Inc. and, the appointment of Kang Lei, as Vice President, China Business to the Mundoro Mining management team.

As a Director, Mr. Mundie will represent Mundoro Mining's interests in China with government and business. Mr. Kang will manage the day-to-day activity in China and assist with efforts to restore the business license for the joint venture company in China.

Richard Mundie brings over 35 years of resource development experience to the Mundoro Mining Board, most recently as Vice President, Asia Affairs and Chief China Representative for Teck Cominco between 2005 and 2007. Prior to this appointment, he spent 22 years in various senior executive roles within Cominco and Teck Corporation. Mr. Mundie has also served as a Board member on several small companies. Mr. Mundie received a Bachelor of Commerce degree from the University of British Columbia and is a Chartered Accountant.

Kang Lei brings over 10 years of experience with international mining firms such as BHP Billiton, Rio Tinto, Teck and Ruhrkohle AG. As a representative for these companies in China, Mr. Kang developed an extensive business and government network, specifically with the Ministry of Land and Resources, Ministry of Commerce and National Development and Reform Commission. He has also served as the Head of Energy and Resources in the Commercial Section of the British Embassy in Beijing. Mr. Kang received a Bachelor of Engineering from the Beijing Machinery Industry Institute, an MBA from University Koln (Germany) and a Master of Commerce from the University of New South Wales in Sydney (Australia).

Mundoro Capital's Chairman and CEO, Robert van Doorn, commented: "Mr. Mundie is well-respected among his business peers in southeast Asia, in particular China where he will be valuable in strengthening Mundoro's efforts. Mr. Kang brings a successful track record that balances industry experience with Chinese government relations. Both Mr. Mundie and Mr. Kang bring a wealth of knowledge and experience to support our corporate and government activities in China."

Mr. Mundie added, "China is about relationships. I understand and have developed these relationships over the past several years through various joint programs designed to foster the international mining community and China government connection. I plan to share and expand these relationships in this new role at Mundoro Mining."

About Mundoro Capital Inc.

Mundoro Capital Inc. is a Canadian based company which operates as a mineral exploration, development and investment company. The 100% ownership of Mundoro Mining, and its Maoling Gold Project, remains the key asset of Mundoro Capital and the Company. Mundoro Capital will also evaluate and invest in other resource assets or companies in the natural resources field, which can create value for Mundoro Capital and its shareholders, using management's years of specialized experience in the capital markets focused on evaluating exploration and production assets, resource investment opportunities.

About Mundoro Mining Inc.

Our vision is to create value for all of our stakeholders from responsible mining. Our mission is to build a state of the art large scale goldmine at Maoling meeting or exceeding all applicable Chinese and international environmental standards. Mundoro Mining has a 79% interest in Maoling through a Sino-Foreign co-operative joint venture with the corporate arm of the Liaoning provincial government which owns 21%. Maoling is a feasibility stage gold deposit located in Liaoning Province, China and is one of China's largest gold resource deposits with 4.8 million contained gold ounces in the Measured and Indicated category and an additional 4.4 million contained gold ounces in the Inferred category. In 2005 a Reserve of 2.8 million ounces in the Probable category was the basis for the Pre-Feasibility Study. Thus far, two deposits that outcrop at surface have been outlined at Maoling in which disseminated, free-milling gold mineralization occurs within a sequence of metasedimentary rocks. The renewal of the exploration license for Maoling has been deferred pending the renewal of a business license for Mundoro Mining's joint venture company, Liaoning Tianli Mining Company Ltd. Mundoro Mining and its partner, Liaoning Aidi Resources Company Limited, have undertaken a strategy of engagement and building awareness with a wide range of government agencies in order to resolve the issue.

Investors are encouraged to review 'Risk Factors' associated with the Maoling project as outlined in the Company's prospectus documents and other regulatory filings, available on the SEDAR website at www.sedar.com.

The pre-feasibility described herein was prepared to broadly quantify the Maoling Zone 1 deposit's capital and operating cost parameters, and to further the development of the project. It was not prepared for use as a valuation of the deposits, nor should it be considered to be a final feasibility study. The information contained in the Study reflects various technical and economic conditions at the time of writing that can change significantly over relatively short periods of time. There can be no assurance that the potential results contained in the Study will be realized. The study was prepared by AMEC Americas Ltd. under the direction and oversight of Mr. Mark Pearson P.Eng. of Vancouver, BC, an 'Independent Qualified Person' as defined by National Instrument 43-101. Resource estimation for the Zone 1 area in 2006 was carried out in the Brisbane, Australia office of Golder Associates Pty Limited, an international earth sciences consulting group under the direction and oversight of Dr. Andrew Richmond, MAusIMM, an 'Independent Qualified Person' as defined by NI43-101. NI43-101 compliant technical reports for the pre-feasibility study and all reserve and resource estimates have been filed on the SEDAR website at www.sedar.com.

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

  • Mundoro Capital Inc.
    Robert van Doorn
    Chief Executive Officer & Chairman
    (604) 630-3593
    or
    Mundoro Capital Inc.
    Teo Dechev
    President & Director
    (604) 630-3591
    or
    Mundoro Capital Inc.
    Ben Chow
    Investor Relations Manager
    (604) 630-3587
    Email: info@mundoro.com
    Website: www.mundoro.com