Mundoro Capital Inc.
TSX VENTURE : MUN

Mundoro Capital Inc.

August 28, 2012 11:15 ET

Mundoro Thanks Shareholders for Their Support

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2012) - Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") today announced that at the annual and special general meeting of shareholders held in Vancouver on August 27, 2012, shareholders voted to elect John J. Hoey, Teo Dechev, Richard Moores and Michael Calyniuk to the board.

Shareholders also voted to: reappoint the auditors and authorize the directors to fix their remuneration; set the number of directors of the Company at four; and ratify and confirm the Company's shareholder rights plan agreement dated as of June 18, 2012 between the Company and Computershare Trust Company of Canada, as rights agent.

Mundoro's board would like to express its gratitude to its shareholders for their support.

The Company also notes, with a great degree of frustration, that shareholders closely associated with the dissident voted in substantial numbers against the dissident's proposal to set the number of directors at five. The Company believes that the dissident group had planned to vote down their own resolution on setting the board size, resulting in the board size being set at 4. Had the dissident received enough votes for the election of his two nominees, the board would have been deadlocked and defacto the dissident group would have achieved board control. The Company believes this gamesmanship represents a clear pattern of behaviour on the part of the dissident group.

Fortunately, shareholders voted against this result and for management's current growth strategy.

The dissident group also voted against the proposed amendment to the Company's Articles to include an advance notice provision to provide shareholders of the Company with clear description on the nomination of directors, which formed the very basis for the dissident's unsuccessful petition before the British Columbia Supreme Court.

Teo Dechev, CEO and President of Mundoro commented, "We have heard from many shareholders during this process and thank shareholders for their vote to support the current growth strategy of the Company. We look forward to continuing to successfully execute for all shareholders and achieve our goal to use our international expertise in mining, finance, exploration and project development, together with our skilled and dedicated staff to grow your Company in value with the existing projects and pursue new opportunities."

On behalf of the Company,

Teo Dechev, Chief Executive Officer, President and Director

About Mundoro Capital Inc.

Mundoro is a Canadian based company which operates as a mineral acquisition, exploration, development and investment company. The Company's target areas are the Tethyan belt in South Eastern Europe and the Mesa Central Belt in Northwestern Mexico, both of which are prolific mineral belts the Company believes have strong exploration and development potential. The Company maintains an interest in the Maoling Gold Project through its 5% interest in Mundoro Mining Inc.

Caution Concerning Forward-Looking Statements

Information included, attached to or incorporated by reference into this News Release may contain forward looking statements. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Board expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "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 Company's future strategy and business plan and execution of the Company's existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, which are not a guarantee of performance and 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, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors 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 to reflect new information, subsequent events or otherwise, 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.

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