Announcement • Jul 08
Mundoro Capital Completes Diamond Drill Program At Skorusa East Target Within Central Timok Project Mundoro Capital completed a 1,288.1 meters diamond drill program at the Skorusa East target within the Central Timok project located within the Timok Magmatic Complex in Serbia. The Central Timok Project is part of the previously announced BHP–Mundoro option earn-in agreement under which BHP is sole-funding all exploration activities. The Phase I drill program comprised two diamond drill holes totalling 1,288.1 m at the Skorusa East target, which added an additional 288 meters in hole 26-SKO-09. Hole 26-SKO-08 was completed at a downhole depth of 499.8 m and hole 26-SKO-09 was completed at a downhole depth of 788.3 m. Downhole geophysics was subsequently completed in both holes. Hole 26-SKO-08 intersected a coherent outward alteration profile: advanced argillic alteration with vuggy silica to 65 m, transitioning to phyllic (sericite-pyrite) alteration to 317 m, and propylitic (epidote-pyrite) alteration to total depth. This alteration series is consistent with the outer alteration envelope of a porphyry system. Assay results are expected before the end of July 2026. Hole 26-SKO-09 intersected an intense advanced argillic alteration sequence to 430 m depth, comprising kaolinite-pyrite to approximately 80 m and transitioning into intense quartz-alunite-dickite assemblage with residual quartz and well-developed vuggy and gusano textures to 430 m depth. Below 430 m, alteration grades through phyllic (chlorite-sericite) to propylitic alteration to total depth of 788.3 m, defining the western margin of the interpreted Skorusa East porphyry system. Assay results are expected before the end of July 2026. Together, holes 26-SKO-08 and 26-SKO-09 are interpreted to be intersecting the outer margins of a copper-gold porphyry system where the potassic core remains untested. The alteration vectors and coincident magnetic and geochemical anomalies support continued drill testing toward the system's inferred centre. Skorusa East Hole 26-SKO-08 (499.8 m) intersected a well-defined outward alteration sequence characteristic of the peripheral zone of a copper-gold porphyry system. Advanced argillic alteration with vuggy silica textures from surface to 65 m transitions downward into a broad phyllic (sericite–pyrite) interval to 317 m, giving way to propylitic (epidote–pyrite) alteration to total depth. The progressive outward zonation — from advanced argillic through phyllic to propylitic — is consistent with positioning at the distal margin of the potassic alteration envelope and supports the presence of a more intact potassic core beneath the drilled section. Hole 26-SKO-09 (788.3 m) intersected an intense advanced argillic alteration system extending to 430 m depth, comprising kaolinite–pyrite to approximately 80 m and transitioning into a very intense quartz–alunite–dickite assemblage with residual quartz and characteristic vuggy and gusano textures. Below 430 m, alteration grades through phyllic (chlorite–sericite) into propylitic alteration at total depth, defining the western margin of the Skorusa East porphyry system. The phyllic and advanced argillic overprint intersected in 26-SKO-09 is interpreted to be rooted in the centre of the porphyry system, likely positioned beneath a coincident low-magnetic anomaly. Historic holes at Skorusa East intersected the potassic-altered core with low-density quartz stockwork (fewer than 10 veinlets per metre) and predominantly pyrite over chalcopyrite, suggesting that a more intact porphyry centre within pristine potassic alteration, with higher chalcopyrite-to-pyrite ratios, remains to be tested. Together, holes 26-SKO-08 and 26-SKO-09 are interpreted to be intersecting the outer margins of a copper-gold porphyry system where the potassic core is considered to remain untested. The alteration vectors and coincident magnetic and geochemical anomalies support continued drill testing toward the system's inferred centre. Of additional potential in the broader Skorusa area, covering a 3 km x 3 km alteration system, exists the Skorusa West target where previously drilled holes intersected the potassic-altered core with low-density quartz stockwork (fewer than 10 veinlets per metre) and predominantly pyrite over chalcopyrite. The porphyry suite comprises at least two phases, an inter- and late-mineral porphyry. The current geological interpretation suggests that the program has drill-tested the south-eastern limit of the system, leaving the entire remainder open to the north-west. The scientific and technical information in this news release has been prepared in accordance with National Instrument 43-101 — Standards of Disclosure for Mineral Projects. The scientific and technical information has been reviewed and approved by Humberto Brockway, EurGeol, Qualified Person as defined by NI 43-101 and Chief Geologist to the Company. Announcement • May 30
Mundoro Announces CFO Changes, Effective July 6, 2026 Mundoro reported a transition in its management team, with Mireia Cervera Medina stepping down as Chief Financial Officer effective July 6, 2026. Jim Scott, a Chartered Professional Accountant, resumed the role of Chief Financial Officer on the same date. Mr. Scott previously served as the Company's CFO from June 2022 to January 2025 and has continued to support Mundoro as a Consultant. Recent Insider Transactions Derivative • May 25
President exercised options to buy CA$106k worth of stock. On the 19th of May, Teodora Dechev exercised options to buy 240k shares at a strike price of around CA$0.23, costing a total of CA$55k. This transaction amounted to 13% of their direct individual holding at the time of the trade. Since September 2025, Teodora's direct individual holding has increased from 1.28m shares to 2.10m. Company insiders have collectively bought CA$142k more than they sold, via options and on-market transactions, in the last 12 months. 
