Mundoro Capital Inc.
TSX VENTURE : MUN

Mundoro Capital Inc.

November 10, 2011 16:33 ET

Mundoro Receives TSXV Approval for Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2011) - Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") announces it has received approval from the TSX Venture Exchange ("TSXV") of its Notice of Intention to Make a Normal Course Issuer Bid (the "NCIB Program").

In the opinion of the Company, its common shares ("Common Shares") have been trading at prices that do not reflect the underlying value of the Company, including its (i) strong financial position, (ii) minority interest in the Maoling Gold Project, (iii) exploration program in a prospective mineral region in the Mesa Central belt of Durango-Chihuahua, and (iv) continued project generation program to bring further projects to the Company. Accordingly, Mundoro believes purchasing its Common Shares at current price levels represents an opportunity to enhance value for shareholders. The Company's strong cash position allows for the implementation of the NCIB Program without adversely affecting Mundoro's growth opportunities.

Pursuant to the NCIB Program, the Company may purchase for cancellation up to a maximum of 1,919,963 of its Common Shares, or approximately 5% of the Common Shares outstanding. As of November 10, 2011, there were 38,399,276 Common Shares of Mundoro Capital issued and outstanding.

The purchases will be made by the Company through TD Securities Inc. and in accordance with the rules of the TSXV, and the price which the Company will pay for any such Common Shares will be the market price at the time of acquisition. The Company will make no purchases of Common Shares other than open market purchases or other means approved by the TSXV.

The actual number of Common Shares of the Company that are purchased for cancellation under the Bid, if any, and the timing of such purchases will be determined by management as approved by the Board of Directors of the Company.

The Company previously entered into a normal course issuer bid between May 29, 2008 and May 28, 2009. During this time, the Company repurchased 323,760 common shares at an average price of $0.33. All shares purchased were cancelled according to the requirements of the Toronto Stock Exchange.

To the knowledge of the Company, no director, senior officer or other insider of Mundoro currently intends to sell any Common Shares under this Bid. However, sales by such persons through the facilities of the TSXV may occur if the personal circumstances of any such person change or any such person make a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.

The NCIB Program will commence on November 14, 2011 and will terminate on the earlier of: (i) November 13, 2012; (ii) the date Mundoro completes its purchases pursuant to the notice of intention filed with the TSX Venture; or (iii) the date of notice by Mundoro of termination of the NCIB Program.

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 acquisition, exploration, development and investment company. Mundoro has initiated an exploration program in a prospective mineral region in the Mesa Central belt of Durango and Chihuahua States in Mexico where it has received approval for three concessions covering 45,215 hectares and has made application for twelve additional mineral concessions covering 184,249 hectares. The Company maintains an interest in the Maoling Gold Project through its 5% interest in MMI. Maoling is a pre-feasibility stage gold deposit located in Liaoning Province, China and has a gold resource with 4.8 million gold ounces (161 million tonnes at 0.92 g/t gold) in the Measured and Indicated category and an additional 4.4 million gold ounces (158 million tonnes at 0.9 g/t gold) in the Inferred category. The pre-feasibility study outlined a Reserve of 2.8 million ounces (88 million tonnes at 1 g/t gold) in the Probable category. Mundoro is well funded to advance its projects with approximately US$20.6 million as of October 31, 2011. Mundoro has 38.4 million shares issued and outstanding.

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 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 NI 43-101. Resource estimation for the Zone 4 area in 2001 was carried out by Dr. Peter D. Lewis, P.Geo., (Lewis Geoscience Services Inc.), an 'Independent Qualified Person' as defined by NI 43-101. NI 43-101 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.

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.

Contact Information