VANCOUVER, June 30, 2014 /CNW/ - Mundoro Capital Inc. (TSXV: MUN, www.mundoro.com) ("Mundoro" or the "Company") is pleased to provide an update to the ongoing exploration program at the Tilva Rosh gold prospect, located on the Savinac License in northeastern Serbia.
Drilling began on June 28th and will be concentrating on the area of the previously reported trenching results, which returned 12m of 30.39 g/t gold and 171.27 g/t silver (see press release dated October 21, 2013). The Tilva Rosh prospect was outlined by a gold-in-soil anomaly of 600 m by 150 m which was confirmed with follow up trenching in Q4-2013 and Q2-2014. The Company also completed ground magnetics in Q1-2014. The Company will be drill testing depth extension of the outcropping epithermal gold mineralization with a total of 1,000 metres. Results are expected in Q3 2014.
Teo Dechev, CEO and President of Mundoro commented, "Initial exploration work at the Tilva Rosh prospect yielded very encouraging results as they demonstrated the potential for near surface, high grade mineralization of a low-sulphidation style system. The current drill program is designed to test the southern portion of a series of gold-in-soil anomalies spread over 3 km of the broader Tilva Rosh hydrothermal system. We look forward to updating the market with the drill results and exploration along the broader system."
Technical information contained in this Press Release has been reviewed and approved by Mr. G. Magaranov, P. Geo., Qualified Person as defined by National Instrument 43-101.
On behalf of the Company,
Teo Dechev, Chief Executive Officer, President and Director
About Mundoro Capital Inc.
Mundoro is a well-funded, Canadian based, company focused on mineral acquisition, exploration, and development. Our primary focus is advancing our properties on the Tethyan Belt in Southeastern Europe. Mundoro has methodically acquired a district-scale land position on this prolific mineral belt which hosts significant Gold-Copper porphyry and related epithermal deposits. Our strong project pipeline, which also includes assets in Mexico and China, is positioned to drive long-term, sustainable growth in order to attain production and shareholder return.
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.
SOURCE: Mundoro Capital Inc.
For further information:
please contact Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055 or Michelle Roth, Roth Investor Relations at +1-732-792-2200