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Re: News Releases - Monday, May 12, 2008
Mundoro Q1 2008 Financial Results
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Vancouver, BC - Mundoro Mining Inc. (the "Company") and Mundoro Capital
Inc. announce the filing of the Company's financial results for the
quarter ended March 31, 2008. The highlights provided in this release
should be read in conjunction with the Company's interim financial
statements and Management Discussion and Analysis, which are available
on SEDAR at www.sedar.com. All dollar amounts are in U.S. dollars
unless otherwise stated.

Financial Highlights

.. The Company's consolidated and comprehensive income for the quarter
was $443,320 or $0.01 per share compared with a net loss of
$(2,303,332) or $0.18 per share for the previous period's quarter. The
net income is attributable to:
I. earning interest income of $ $161,973;
II. a gain of $1,112,582 on non-cash accounting items;
III. expending $174,460 on Engineering and Exploration; and
IV. expending $656,775 on corporate expenses.
.. The Company ended the quarter with $17,266,417 in cash with no long
term debt.

Company Highlights

The Company continues to be focused on the renewal of the business
license and advancing the technical and environmental studies as well
as the community relations work for the Maoling Gold Project
("Maoling"). Although there has been a long delay in renewing the
business license of Tianli, the Company's joint venture company in
China, management continues to believe the strategy undertaken of
engagement and building awareness with a wide range of government
agencies and organizations in order to resolve the issue, will provide
a positive outcome. The technical merits of Maoling are well
documented in the Pre-feasibility Study completed in 2005 and have been
supplemented with the work completed for the Feasibility Study and the
preparatory material for the completion of a full Environmental and
Social Impact Assessment ("ESIA"). The Company continues to advocate
the benefits of development of a modern mine at Maoling which will
serve as a showcase in modern mine management methods including
environmental protection.

In order to show the commitment Mundoro has to the surrounding area of
Maoling and its small rural communities, the Company developed a
comprehensive community development program to complement existing
efforts within the community and region by facilitating further
development of local infrastructure and economic advancement including
basic sanitation, the provision of fresh water, local medical service
improvements, as well as assistance in scholastic and professional
development. Mundoro has committed RMB 1.2 million, to be spent over a
three year period to fund educational, health and sanitation
development in Gaizhou County.

To augment the corporate strategy of developing Maoling, Mundoro
undertook a plan of arrangement in the quarter which was approved at
the Company's Annual General and Special Meeting on April 11, 2008. As
a result of the completion of the plan of arrangement on April 16,
2008, Mundoro Mining became a wholly owned subsidiary of a newly formed
entity, Mundoro Capital Inc., which is now trading on the Toronto Stock
Exchange under the ticker symbol "MUN". Mundoro Capital will carry on
the business of a mineral exploration, development and investment
company. The ownership of Mundoro Mining as a wholly-owned subsidiary
remains the largest and key asset of Mundoro Capital which will
continue with the business strategy of Mundoro Mining to develop the
Maoling Gold Project. Mundoro Capital will also evaluate and invest in
resource assets or companies in the natural resources field, which can
create value for Mundoro Capital 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 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 China's largest single, gold resource deposit
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.

About Mundoro Capital Inc.

Mundoro Capital will carry on the business of a mineral exploration,
development and investment company. The ownership of Mundoro Mining as
a wholly-owned subsidiary remains the largest and key asset of Mundoro
Capital which will continue with the business strategy of Mundoro
Mining to develop the Maoling Gold Project. Mundoro Capital will also
evaluate and invest in resource assets or companies in the natural
resources field, which can create value for Mundoro Capital 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.

Investors are encouraged to review 'Risk Factors' associated with the
Maoling project as outlined in the Company's prospectus documents and
other regulatory filings, available 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.

For further information, please contact:

Robert van Doorn
Chief Executive Officer & President, Mundoro Mining Inc.
604-630-3593

Teo Dechev
Chief Financial Officer & Vice President, Corporate Development,
Mundoro Mining Inc.
604-630-3591

Ben Chow
Investor Relations Manager, Mundoro Mining Inc.
604-630-3587

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Copyright (c) 2008 MUNDORO MINING INC. (TSX-V:MUN) All rights
reserved. For more information visit our website at
http://www.mundoro.com/ or send mailto:info@mundoro.com
Message sent on Mon May 12, 2008 at 1:50:53 PM Pacific Time
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