Mundoro Commences Drilling at High Priority Skorusa East Target
Rhea-AI Summary
Mundoro (OTCQB: MUNMF) has begun a planned 1,000 metres drilling program at the high‑priority Skorusa East target within its Central Timok project in Serbia. The work is part of the BHP‑Mundoro option earn‑in, with BHP sole‑funding the exploration activities. Two holes (1–2) will test geochemical and magnetic anomalies east of Skorusa West; the rig will then move to Tilva Rosh South.
Positive
- 1,000 metres drilling approved at Skorusa East
- BHP sole‑funding under option earn‑in agreement
- Skorusa East located 5 km southwest of Bor Mine Complex
- Historical intercept: 201.2 m at 0.11% Cu and 0.11 g/t Au
Negative
- Program limited to 1,000 metres (1–2 holes), restricting immediate coverage
- Short campaign: rig to relocate to Tilva Rosh South after completion
News Market Reaction – MUNMF
In the Apr 16 session, MUNMF declined 1.89%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - April 16, 2026) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to announce the commencement of drilling at the high-priority Skorusa East target within the Central Timok project (the "Project"), located within the Timok Magmatic Complex ("Timok") in Serbia. The Project is part of the previously announced BHP-Mundoro option earn-in agreement¹ where BHP is sole funding the exploration activities.
Highlight
● Planned 1,000 meters of drilling across two drill holes at the Skorusa East Target
Central Timok Project
The Project area is a comprehensive package of 7 exploration licenses covering 418 km² within the Timok Magmatic Complex in eastern Serbia (see Figure 1). Timok is one of the most prolific metallogenic domains in the western portion of the Tethyan Belt, hosting several large-scale deposits and producing mines.
This land package encompasses four alteration zones, each extending approximately 4 km for a cumulative 16 km of alteration. These zones display characteristic soil geochemistry and alteration zonation indicative of porphyry systems.
Skorusa East Target
The Exploration Technical Committee has approved 1,000 meters of drilling across 1 to 2 drill holes at the Skorusa East target. Upon completion, the drill rig will be relocated to the high priority Tilva Rosh South target.
- Location: Skorusa East is part of the larger Skorusa license, located 5 km southwest of the Bor Mine Complex and 4 km west of the Cukaru Peki Mine (see Figure 1).
- Geological Context: Skorusa West and East targets together feature a significant 2 x 3 km alteration footprint related to a copper-gold porphyry system.
- Historical Intercepts: Previous drilling at Skorusa West intersected a wide mineralization halo, including 201.2 meters at
0.11% Cu and 0.11 g/t Au², confirming a large-scale system hosted in intrusive and volcano-sedimentary units with higher grades associated with potassic-altered diorite porphyry dikes.
The Opportunity: Skorusa East is defined by a surface soil geochemical anomaly and alteration zone, located immediately east of the Skorusa West porphyry. Prior drilling in hole STRD-005 intersected hydrothermally altered medium to fine grained porphyritic diorite with trace disseminated chalcopyrite and quartz-chalcopyrite-pyrite-magnetite "A-B-Type" porphyry veinlets and a late mineral dyke postdating early veinlets, suggesting the existence of an additional mineralized center. The two drill holes in the current drilling campaign are designed to test the eastern extent of Skorusa East target with approximately 1,000 meters of drilling where there are demonstrated geochemical and alteration vectors along with a coincident magnetic anomaly.
Figure 1: Regional map highlighting Central Timok target areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2408/292719_98563d1c74edca46_001full.jpg
Qualified Persons
R. Jemielita, PhD, MIMMM, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About Mundoro Capital Inc.
Mundoro is a publicly listed company on the TSX-V in Canada and OTCQB in the USA with a portfolio of mineral properties focused primarily on base and precious metals. To drive value for shareholders, Mundoro's asset portfolio generates near-term cash payments to Mundoro and creates royalties attached to each mineral property optioned to partners. The portfolio of mineral properties is currently focused on predominantly copper in two mineral districts: Western Tethyan Belt in Eastern Europe and the Laramide Belt in the southwest USA.
For more information, please visit www.mundoro.com.
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For further information about Mundoro, please contact:
Teo Dechev, Chief Executive Officer, President and Director
Christian Elferink, Investor Relations Manager
+1-604-669-8055
info@mundoro.com
References
¹ Mundoro Capital website (Link), October 13, 2025 News release
² Mundoro Capital website (Link), July 6, 2021 News release
Caution Concerning Forward-Looking Statements
This News Release contains forward-looking statements. 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, and include the following: completion of earn-in expenditures, options and completion of a definitive agreement by the parties. The material assumptions that were applied in making the forward-looking statements in this News Release include expectations as to the mineral potential of the Company's projects, the Company's future strategy and business plan and execution of the Company's existing plans. We caution readers of this News Release not to place undue reliance on forward-looking statements contained in this News Release, as there can be no assurance that they will occur and they 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, exploration results, commodity prices, 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, 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 SEDAR+ at www.sedarplus.ca.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/292719