Vancouver, British Columbia--(Newsfile Corp. - July 6, 2026) - Mundoro Capital Inc. (TSXV: MUN) (OTCQB: MUNMF) (www.mundoro.com) ("Mundoro" or the "Company") is pleased to announce the completion of a 1,288.1 meters diamond drill program at the Skorusa East target within the Central Timok project (Figure 1) located within the Timok Magmatic Complex ("Timok") in Serbia. The Central Timok Project is part of the previously announced BHP-Mundoro option earn-in agreement1 under which BHP is sole-funding all exploration activities.
Teo Dechev, Chief Executive Officer, President and Director, stated, "The completion of this initial drill program at Skorusa East marks a steady progression in our 2026 exploration program with BHP. We are encouraged by the data gathered, which aligns with our geological models and provides a clear path for follow-up drilling in the Central Timok project."
Humberto Brockway, Director of Exploration, stated: "The alteration profiles observed in these holes confirm that we are exploring the outer and western margins of a porphyry system. The transition from advanced argillic alteration through to phyllic and propylitic zones provides us with consistent vectors. This indicates that the system's core remains untested, and we have a clear target to guide our next phase of drilling."
Highlights
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, see Figure 2, 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.