Mundoro Advances Central Timok Project with Recent Skorusa East Drilling

Mundoro Capital Inc. (MUN) has completed a 1,288.1-meter diamond drill program at the Skorusa East target within its Central Timok project in Serbia. The program was solely funded by BHP under the existing option earn-in agreement.

Two holes, 26-SKO-08 and 26-SKO-09, intersected alteration profiles consistent with the outer margins of a copper-gold porphyry system. Hole 26-SKO-08, measuring 499.8 meters, showed an outward alteration profile from advanced argillic to propylitic. Hole 26-SKO-09, measuring 788.3 meters, defined the western margin with intense advanced argillic alteration to 430 meters, transitioning to phyllic and propylitic zones. The potassic core of the porphyry system remains untested.

Assay results are expected before the end of July 2026. Management plans follow-up drilling to test the inferred center of the system and has identified Skorusa West as a potential target.

Mundoro Capital Inc. (MUN) issued a routine follow-up to its April 16, 2026 announcement regarding the commencement of drilling at Skorusa East. The completion of the Phase I program and the resulting geological interpretation align with the company's stated exploration model and previous expectations.

The results confirm the presence of a large-scale alteration system but do not yet intersect the high-grade potassic core, meaning no immediate resource definition or financial upside is triggered. There is no new capital raised, no change in partnership terms, and no operational disruptions. The market impact is expected to be muted until the assay results are released later in July, which will determine if the system warrants the planned follow-up drilling.

Mundoro Capital Inc. is an exploration-stage copper royalty generator focused on the Western Tethyan and Laramide porphyry belts. Its flagship asset is the Central Timok Project in Serbia's Timok Magmatic Complex. The company holds a 10-year option earn-in agreement with BHP, allowing BHP to earn 100% ownership by funding US$35 million in exploration. Mundoro retains a 2% NSR royalty and receives operator fees and annual option payments.

Additional projects include the Borsko-South Timok-Trstenik JV in Serbia, the Iskar EE1 JV in Bulgaria with JOGMEC, and 100% owned Arizona projects at Dos Cabezas, Picacho, and Copperopolis. All projects are in exploration or drill-ready stages. No mineral resources or reserves have been declared.