Mundoro begins drilling at South Timok

Executive Summary

• Mundoro Capital Inc. has commenced the inaugural drilling program at its South Timok project in Serbia, marking the first drill test of targets defined by systematic exploration over the past two years.
• The project is part of a previously announced option earn-in agreement with BHP, under which BHP is solely financing the exploration while Mundoro acts as the operator.
• The initial program involves up to 2,500 metres of diamond drilling designed to test geophysical anomalies indicative of undercover porphyry systems within the Timok magmatic complex.

Key Details

• Drilling Program Scope: Up to 2,500 metres of diamond drilling.
• Project Location: South Timok project, within the Timok magmatic complex, Serbia.
• Project Area: Four contiguous exploration licences covering approximately 306 square kilometres.
• Geographic Context: Located 40 to 70 km south of the Bor mine complex; represents the southern extension of the prolific Timok magmatic complex.
• Exploration Strategy: Application of systematic deep-sensing geophysics to vector toward anticipated undercover porphyry systems.
• Target Characteristics: Integrated data sets outline multiple coincident geophysical anomalies characterized by:
  • Resistivity signatures indicating potential hydrothermal alteration.
  • Positive magnetic signatures indicating potential intrusive bodies.
• Partnership Structure:
  • BHP: Sole financier of the exploration; holds an option to earn-in.
  • Mundoro Capital Inc.: Operator of the project; earns operating fees and annual option payments.
• Technical Validation: Technical information reviewed, verified, and approved by R. Jemielita, PhD, MIMMM, a qualified person as defined by National Instrument 43-101.

Notable Quotes

• No direct quotes from management were included in the provided text.