Ms. Teo Dechev reports

MUNDORO ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Mundoro Capital Inc. intends to undertake a private placement to raise gross proceeds of up to $3-million through the issuance of up to 18.75 million units at 16 cents per unit. Each unit will comprise one common share of the company and one-half of one share purchase warrant. Each whole share purchase warrant is exercisable into one common share at a price of 30 cents per share for a period of 24 months following the closing of the offering. In the event that the trading price of the shares on the TSX Venture Exchange reaches 40 cents per share over 15 consecutive trading days, the company may, at its option, accelerate the warrant expiry date by delivering a notice to the registered holders thereof and issuing a press release, and, in such case, the warrant expiry date shall be deemed to be 5 p.m. PT on the 30th day following the date of issuance of the warrant acceleration press release.

The offering will be conducted on a non-brokered basis to institutional and accredited investors, pursuant to prospectus exemptions available under applicable securities laws, and is subject to the approval of the exchange. A four-month hold period will apply to all securities issued as part of the offering. Finders' fees may be payable on the offering. The company intends to close the offering on or about Feb. 11, 2021. The company reserves the right to increase the size of the offering or to modify the type, nature and/or price of the units for any reason. There can be no assurance that the offering will be completed as proposed or at all, and it is subject to all applicable regulatory approvals.

The company intends to use the net proceeds of the offering for: the exploration of its non-partnered properties in Serbia and Bulgaria; its non-partnered generative programs for new areas of exploration; and general corporate purposes. The net proceeds of the offering, if fully subscribed, are expected to be sufficient to meet the company's capital needs for the next two years.

About Mundoro Capital Inc.

Mundoro Capital is a Canadian-listed exploration company with a portfolio of projects focused on base metals and precious metals that generate royalties and near-term mineral revenues. To drive value for shareholders, Mundoro has generated a portfolio of mineral projects focused on copper and gold in Serbia and Bulgaria. Value generated from the company's mineral properties is through near-term revenues from various forms of payment from partners and long term through the generated royalties.

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