Mundoro Capital Inc.

Mundoro Capital Inc.

October 05, 2011 16:13 ET

Mundoro Shareholders Approve Transaction with China National Gold Hong Kong Limited

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2011) - Mundoro Capital Inc. ("Mundoro" or the "Company") (TSX VENTURE:MUN) is pleased to announce the Company received shareholder approval at the Special Shareholder Meeting held on October 4, 2011 for the proposed strategic transaction announced on August 2, 2011. The total percentage of shares voted were 64% of which 85% Voted For the Special Resolution to approve the Proposed Strategic Transaction, whereby China National Gold Group Hong Kong Limited ("CNGHK"), a wholly-owned subsidiary of China National Gold Group Corporation, will acquire 95% of the issued and outstanding shares of Mundoro Mining Inc. ("MMI"), the Company's wholly owned subsidiary, for a cash purchase price of CDN$13,800,000 (the "Proposed Strategic Transaction"). The Company will retain 5% of the issued and outstanding shares of MMI. The Proposed Strategic Transaction is expected to close on or about October 10, 2011.

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. As described above, 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 also has an active project generation program in Mexico where it has been granted title for the Cuencame Property (45,215 hectares) and has made application for twelve additional mineral concessions (184,249 hectares) in Durango and Chihuahua States. The Company's project generation program expands beyond Mexico with the evaluation of prospects in Europe. Mundoro is well funded to advance its projects with approximately US$8.3 million in cash and cash equivalents as of June 30, 2011. Mundoro has 38.4 million shares issued and outstanding and 40.6 million shares on a fully diluted basis.

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 TSXV has neither approved nor disapproved of the information contained herein.

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