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Re: News Releases - Friday, September 19, 2008
Mundoro Capital Announces Strategic Consultant
Engagement
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VANCOUVER, BRITISH COLUMBIA -- Mundoro Capital Inc. ("Mundoro")
(TSX:MUN) is pleased to announce that it has entered into a consulting
agreement with a local Chinese group, ALG Consultants ("ALG"). The
relationship with ALG will strengthen our current corporate and
government activities towards the renewal of the business license.
Mundoro's Chief Executive Officer, Robert van Doorn, commented, "This
agreement with ALG will allow us to complement our current government
relations efforts in Beijing and to maintain a coordinated effort along
all levels of government, including township, county, municipal and
provincial governments. ALG will provide the key element of 'guanxi'
for Mundoro as a means to accomplish our mutual common objective of
restoring the business license in a timely manner."
ALG Consultants' Principal, Peter Low, added, "We are pleased Mundoro
has engaged our services. While Mundoro's situation is not uncommon for
foreign companies operating in China, we believe a solution exists. We
will work in concert with Mundoro and their existing stakeholders to
develop a plan to successfully achieve this common objective. As a
demonstration of our commitment for a successful outcome and the
complete alignment of our interests, ALG has already purchased 3.2% of
the issued and outstanding shares of Mundoro on the capital markets."
About ALG Consultants
ALG Consultants have been working mainly alongside our clients in an
advisory role. ALG comprises a group of companies in the People's
Republic of China with active operations in the mining and services
sectors and are located in major Chinese centres of government and
commerce. The Principals of ALG Consultants have considerable knowledge
of the cultural, socio-economic, government, and business environment
in China, as well as, extensive contacts and relationships with all
levels of government.
About Mundoro Capital Inc.
Mundoro Capital Inc. is a Canadian based company which operates as a
mineral exploration, development and investment company. The ownership
of Mundoro Mining, and its Maoling Gold Project, remains a key asset of
the Company and the Company will continue to develop the Maoling Gold
Project. The Company Mundoro will also evaluate and invest in resource
assets or companies in the natural resources field, which can create
value for the Company and its shareholders, using management's years of
specialized experience in the capital markets focused on evaluating
exploration and production assets, resource investment opportunities
and structuring unique transactions for investments in the resource
sector.
About Mundoro Mining Inc.
Mundoro Mining, a wholly-owned subsidiary of the Company, is a resource
company focused on the exploration and development of one of the
world's top gold deposits, the Maoling Gold Project. Mundoro Mining has
a 79% interest in Maoling through a Sino-Foreign co-operative joint
venture with the corporate arm of the Liaoning provincial government
which owns 21% interest. Maoling is a feasibility stage gold deposit
located in Liaoning Province, China and is one of China's largest gold
resource deposits with 4.8 million contained gold ounces in the
Measured and Indicated category and an additional 4.4 million contained
gold ounces in the Inferred category. Mundoro Mining has outlined a
Reserve of 2.8 million ounces in the Probable category which was the
basis for the Pre-Feasibility Study. Thus far, two deposits that
outcrop at surface have been outlined at Maoling in which disseminated,
free-milling gold mineralization occurs within a sequence of
metasedimentary rocks. The renewal of the exploration license for
Maoling has been deferred since November 2005 pending the renewal of a
business license for Mundoro Mining's joint venture company, Liaoning
Tianli Mining Company Ltd. Mundoro Mining and its partner, Liaoning
Aidi Resources Company Limited, have undertaken a strategy of
engagement and building awareness with a wide range of government
agencies in order to resolve the issue.
Investors are encouraged to review 'Risk Factors' associated with the
Maoling project as outlined in the Company's regulatory filings
available under the Company's profile on the SEDAR website at
www.sedar.com.
The pre-feasibility described herein was prepared to broadly quantify
the Maoling Zone 1 deposit's capital and operating cost parameters, and
to further the development of the project. It was not prepared for use
as a valuation of the deposits, nor should it be considered to be a
final feasibility study. The information contained in the Study
reflects various technical and economic conditions at the time of
writing that can change significantly over relatively short periods of
time. There can be no assurance that the potential results contained in
the Study will be realized. The study was prepared by AMEC Americas
Ltd. under the direction and oversight of Mr. Mark Pearson P.Eng. of
Vancouver, BC, an 'Independent Qualified Person' as defined by National
Instrument 43-101. Resource estimation for the Zone 1 area in 2006 was
carried out in the Brisbane, Australia office of Golder Associates Pty
Limited, an international earth sciences consulting group under the
direction and oversight of Dr. Andrew Richmond, MAusIMM, an
'Independent Qualified Person' as defined by NI43-101. NI43-101
compliant technical reports for the pre-feasibility study and all
reserve and resource estimates have been filed on the SEDAR website at
www.sedar.com.
The statements herein that are not historical facts are forward-looking
statements. These statements address future events and conditions and
so involve inherent risks and uncertainties, as disclosed under the
heading "Risk Factors" in the company's periodic filings with
Canadian
securities regulators. Actual results could differ from those currently
projected. The Company does not assume the obligation to update any
forward-looking statement.
The TSX has neither approved nor disapproved of the information
contained herein.
Contact:
Robert van Doorn
Mundoro Capital Inc.
Chief Executive Officer & Chairman
(604) 630-3593
Teo Dechev
Mundoro Capital Inc.
President & Director
(604) 630-3591
Ben Chow
Mundoro Capital Inc.
Investor Relations Manager
(604) 630-3587
Email: info@mundoro.com
Website: www.mundoro.com
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Copyright (c) 2008 MUNDORO CAPITAL INC. (TSX:MUN) All rights
reserved. For more information visit our website at
http://www.mundoro.com/ or send mailto:info@mundoro.com
Message sent on Fri Sep 19, 2008 at 7:11:34 PM Pacific Time
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