Mundoro Capital_Corporate_Presentation_August2021

Focused Investment in Copper and Gold
TSX-V: MUN | OTCQB: MUNMF | Frankfurt: NGU
August 2021
mundoro.com

TSXV:MUN
• Certain statements made during this presentation, including, without limitation, those concerning the economic outlook for the resource exploration industry,
expectations regarding metal prices, growth prospects and the outlook of Mundoro’s operations, including the successful definition of mineral resources or reserves on
Mundoro’s Serbian exploration projects, and its ability to raise the capital resources necessary to execute its business plan, constitute ‘forward looking information’ under
applicable securities legislation. These types of statements are generally identified by words or expressions such as “may”, “would”, “could”, “should”, “anticipate'',
“believe'', “intend”, “expect”, “plan”, “potential”, “estimate”, “budget'', “outlook'', “target” or other terminology.
• By its very nature, forward-looking information requires Mundoro to make assumptions that may not materialize or that may not be accurate and is subject to a variety of
risks, both known and unknown. Although Mundoro believes that the expectations reflected in the forward-looking information contained in this presentation are
reasonable, no assurance can be given that these expectations will prove to have been correct. Accordingly, results could differ materially from those set out in the
forward-looking information.
• The business of Mundoro is subject to considerable risks related to the fluctuation of metal prices, risks and dangers inherent in mining, competition with other mining
companies, and doing business in Serbia, Bulgaria, Mexico, China.
• The targets expressed throughout this presentation are based on Mundoro’s assessment of the geological data currently available and are conceptual in nature. There has
been insufficient exploration with respect to these targets to define any estimates of quantities. There is no guarantee that reserves under section 2.3 of NI 43-101 will be
delineated through additional exploration.
• The forward-looking information contained in this presentation is made as of the date of this presentation and, except as required by applicable law, Mundoro does not
undertake any obligation to update publicly or to revise any of the included forward-looking information to reflect events or circumstances after today’s date or to reflect
the occurrence of unanticipated events.
• The historical mineral resource estimates at Radka and Red Hill are derived from prior data and reports prepared by the National Geological Survey and held in the
Bulgarian National Geological Fund. The company is not currently able to confirm the dates of the estimates or the key assumptions, methods and parameters used to
prepare them. At this time, Mundoro is not able to determine the reliability of the resource estimates with reference to the standards applicable to CIM-compliant
resource estimates, although expects that additional exploration work will be required to enable Mundoro to report some or all of the mineralized material in conformity
with CIM resource estimate categories. A Qualified Person has not done sufficient work to classify the historical estimates as current mineral resources or mineral reserves
and the issuer is not treating the historical estimates as current mineral resources or mineral reserves.
•
National Instrument 43-101 – Technical Disclosure:
• The technical report described herein on the Borsko Jezero Property was prepared by D. Power-Fardy, P.Geol., EurGeol., Senior Geologist, Watts, Griffis and MCOuat
Limited, "Qualified Persons" as defined by NI43-101.
• The information contained in the studies 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 studies will be realized.
• NI43-101 compliant technical reports for Mundoro’s properties have been filed on the SEDAR website at www.sedar.com.
2
Caution Concerning Forward-Looking Statements
Mundoro Capital Inc.
1040 West Georgia Street
Vancouver, B.C., V6E 4H1
Exchange Symbols
TSX-V: MUN
OTCQB: MUNMF
Frankfurt: NGU
Website
www.mundoro.com
Transfer Agent
TMX Equity Transfer Services Inc.
200 University Avenue, Suite 300
Toronto, ON, M5H 4H1
Auditors
PriceWaterhouse Coopers
Chartered Professional Accountants
Vancouver, BC, V7Y 1G6

TSXV:MUN
Partner Funded
Exploration
Generating Cash from
Portfolio for 5+ years
Guided by ESG & CSR
principles for over 10
years
55% Institutional
Shareholders on
register
3
Why Mundoro & Why Now
Copper & Gold Focus in
Historic Mining Camps
Strategic Land Packages
in World Class Mineral
Districts
Growing
Opportunity for
New Royalty
Creation

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Portfolio of Projects
Mexico Project
Maoling Gold Project (PFS)
(CNG 75%; LBG 21%; MUN 4%)
Europe Projects
(Serbia & Bulgaria)
4
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Copper and Gold
Projects (by stage) in
Each Belt
Andean Belt
Chile/Peru
Western Tethyan
Belt
Serbia/Bulgaria/
Turkey %
Total Projects in 2010 >1100 ~174 16%
Exploration 900 139 15%
Development 100 18 18%
Production 181 21 12%

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01 02 03
Unique Business Model
5
Target Discovery
• District-Scale Land
Packages
• Strategic locations
• Copper and gold focus
• Attractive for industry
partners
Partners sole-fund
• Exploration programs
• Strategic alliances
Generate Cash
• NSR royalty
• Operator fees
• Option Fees
• Advance Royalty
Payments
• Milestone Payments
• Direct Sale of assets
GENERATE PARTNER MONETIZE

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Unique Business Model
6
Mundoro’s approach to mineral revenue generation is to be the catalyst for new Royalties
• Differentiation
to generate
new royalties
• Lower upfront
capital
required
• Requires low cost
balance sheet
capital
• Highly
competitive to
purchase existing
royalties
Various Mining Partners:
+
PARTNER
NSR %
+ $$
PROJECT
Purchase Royalty
from Mining
Company
NSR%
Royalty
Co
MUNDORO Royalty Co’s

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Mundoro Junior Peers Mundoro Junior Peers
Mundoro’s Unique Model at Work
7
Compared to Junior Peers, Mundoro has lowest G&A expenditures, 3x more meters drilled on the portfolio, and 2x more
exploration expenditures on projects
> 9000m
87x
G&A
expenses
as
%
of
Total
expenditures
(3
years
average)
Exploration
expenditures(3
years
average)
Annual
meters
drilled
(3
years
average)
Enterprise
value
/
Revenue
(3
years
average)
EV/Revenue G&A % Exploration expenditures Meters Drilled
16 % 47 % $3,849 k $ 1,865 k < 3000m
57x

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1
10
100
1000
$1
$10
$100
$1,000
$10,000
$100,000
$1,000,000
$10,000,000
SOURCE: COMPANY FINANCIAL REPORTS, MUNDORO, PRICING INFORMATION JUNLY 16ST , 2021
Industry Revenue Generation & Valuations
3
YEAR
AVERAGE
REVENUE
(C$
THOUSANDS)
Investors are giving high EV/R multiple to Juniors with the expectation for higher growth than Mid-Tiers or Seniors
8
Seniors → 15x EV/R Mid-Tier → 43x EV/R Juniors → 87x EV/R
Average MCAP $5.4 Billion $165 Million $ 37 Million
Avg Annual Revenue
(3-Year Avg) $311 Million $3.68 Million $389 K
Revenue Growth (3-Year) 22% 96 % 40%
Cash Flow (3-Year Avg) >$201 million Not generating Positive Cash Flow Not generating Positive Cash Flow
Dividends Regular Dividends Limited Dividends No Dividends
Largemines,expansions,select
developmentroyalties Development, small mines royalties Exploration royalties
EV/R
MULTIPLE
Seniors
Mid-Tier
Juniors

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53%
4 %
43%
53%
Shares
Outstanding (Basic)
Warrants
6 mln Dec-2021 @$0.20
9.6 mln Feb-2023 @$0.30
Our Shareholders
SHARE CAPITAL
BALANCE SHEET (CAD$, Q1 2021)
4.5
MILLION
0
$
Cash & Cash
Equivalents Debt
9
RESEARCH AND ANALYST NOTES
OWNERSHIP AND SIGNIFICANT SHAREHOLDERS
$ 100 Million
Options
9.2 Million 15.6 Million
Fully Diluted
Shares Outstanding
125 Million
May 2018 -Present: Veteran
economic geologists and
equity analysts Joe Mazumdar
and Brent Cook
September 2019: Project
Generator Industry Report
December 2016 to May 2018
Oct 2017: Mundoro Capital:
Tackling the Tethyan
USA Institutional Funds
European Institutional Funds
Canadian Family Office
Company
Retail 43% Institutional 53%
D&O 4%

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Our Team & Advisors
10
EXPLORATION
Richard Jemielita, PhD, QP
Chief Geologist,
40+ years in generative exploration
Yassen Krishchev, QP
Senior Exploration Manager
25+ years Exploration at majors &
juniors
Damyan Hristov
Senior Data Manager
25+ years Data specialist for majors
Ivan Veljkovic
Project Administration Manager,
Serbia
Violeta Boyanova
Marketing &
Project Administration Manager,
Bulgaria
TECHNICAL ADVISORS CORPORATE
Richard Sillitoe, PhD
Porphyry Systems
Widely recognized geology
professional with more than 120
technical publications
Leigh Rankin, PhD
Structural
25+ years experience in structural
geology and interpretation of
geophysical data
Richard Moores
Generative
30+ years in exploration worldwide
specializing in porphyry-style
deposits; Discovery of Copler,
Former CEO of Anatolia
Alan Riles
Metallurgy
40+ experience as a mining
professional and metallurgist;
Former COO of Vale Inco Ltd
PWC – Auditors
Cassels – Corporate Counsel
MANAGEMENT AND BOARD
Teo Dechev, MBA, P.Eng, ICD.D
CEO, President, Director
Previously Investment Banking at
CIBC, NBF, Desjardins, Equity
Research at LOM
John Hoey
Non-Executive Chairman, Governance
and Nominating Committee Chair
Retired Investment Banker, and Retired
US State Department
Michael Calyniuk
Independent Director
Audit Committee Chair
Retired PWC Audit Partner, Director
on BDC of Canada
Nick Hatch
Independent Director
Compensation Committee Chair
Retired Sell Side Equity Research Analyst
Christopher Wong
MBA, CPA, CMA
CFO & Corporate Secretary

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The World Needs Copper

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Global Copper Supply
12
Copper supply continues to under pace demand, causing a global deficit in copper which leads to price increases
Supply
Demand
Balance
(000
t)
Copper
Price
($/lb)
Source: S&P Global Market Intelligence; World Bank Data; International Copper Association, Mundoro
0.00
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
-600
-400
-200
0
200
400
600
800
1000
2015 2016 2017 2018 2019 2020 2021 2022F 2023F 2024F 2025F
Copper market moves into deficit

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China Rest of the world
Global Copper Demand
13
Copper demand is fueled both by traditional economic growth but also now the need in new green economy uses
Economic recovery drives up global refined copper demand
6.2% YOY in 2021
Refined
copper
consumption
(000
t)
YOY
change
(%)
Source: S&P Global Market Intelligence; World Bank Data; International Copper Association
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027
Car BEV Car HEV Car PHEV Ebus BEV
Kt
Cu
Electric vehicle Cu demand forecast
0%
1%
2%
3%
4%
5%
6%
7%
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2017 2018 2019 2020 2021 2022F 2023F 2024F 2025F

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$0
$500
$1,000
$1,500
$2,000
$2,500
$0
$100
$200
$300
$400
$500
$600
1-Feb-01
1-Feb-02
1-Feb-03
1-Feb-04
1-Feb-05
1-Feb-06
1-Feb-07
1-Feb-08
1-Feb-09
1-Feb-10
1-Feb-11
1-Feb-12
1-Feb-13
1-Feb-14
1-Feb-15
1-Feb-16
1-Feb-17
1-Feb-18
1-Feb-19
1-Feb-20
1-Feb-21
Gold
Price
US$/oz
Enterprise
Value
US$/oz
$0.00
$0.05
$0.10
$0.15
$0.20
$0.25
$0.30
$0.35
$0.40
$0.45
1-May-07
1-Nov-07
1-May-08
1-Nov-08
1-May-09
1-Nov-09
1-May-10
1-Nov-10
1-May-11
1-Nov-11
1-May-12
1-Nov-12
1-May-13
1-Nov-13
1-May-14
1-Nov-14
1-May-15
1-Nov-15
1-May-16
1-Nov-16
1-May-17
1-Nov-17
1-May-18
1-Nov-18
1-May-19
1-Nov-19
1-May-20
1-Nov-20
1-May-21
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
Enterprise
Value
US$
/
lb
Copper
Price
Marco Picture for Copper and Gold Equities
14
Gold Equities - Enterprise Value/oz Copper Equities - Enterprise Value/lb
Despite strong commodity prices, equities still below historical valuations levels
Current $EV/lb of Cu producers ~$0.16/lb
Current $EV/oz level of Au producers ~$170/oz

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Mineral Districts of Focus

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Emerging Mineral Districts in Western Tethyan Belt TSXV:MUN

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17
Serbia: Timok Overview - World Class Mining District
Mines & Projects Company Status Tonnage Resource Grade
Majdanpek1
(Cu, Au)
Zijin Copper
Bor
Operating
Open Pit Mine
637 Mt
0.3% Cu,
0.27 g/t Au
Veliki Krivelj
Mine1
(Cu, Au)
Zijin Copper
Bor
Operating
Open Pit Mine
506 Mt
0.37% Cu,
0.07 g/t Au
Bor Mine1
(Cu, Au)
Zijin Copper
Bor
Operating Mine
18.3 Mt
0.8% Cu,
0.2 g/t Au
1,008 Mt
0.53% Cu,
0.16 g/t Au
Cukaru Peki2
(Cu, Au)
Zijin Copper
Bor
Development
Project
Upper: M+I
42.67 Mt
3% Cu,
1.91 g/t Au
Lower: Inf
1,663 Mt
0.86% Cu,
0.18 g/t Au
Timok Project3
(Au)
Dundee
Precious
Metals
PEA 46.9 Mt 1.32 g/t
> 100 Years of Mining & > 4 Billion tonnes of Porphyries
Majdanpek Mine
Cukaru Peki Project
BorMine
Veliki Krivelj Mine
Timok Project
10 km
Vale-Mundoro Projects
JOGMEC – Mundoro Project
Available for option
Dundee Precious Metals
Zijin Mining
Mine & Deposit
Tethyan Belt outline
Sources: 1. The Mineral Resources of the Bor Metallogenic Zone: A Review; Jelenkovic et al; Geologia Croatica, 2016
2. Zijin Mining Annual Report for 2019 3. Technical Report 43 101 Dundee Precious Metals 2018

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Timok: International Miners Active in Serbia M&A
18
MAR 2016
Partnership formed
announces sale of
portion of Cukaru-Peki
September - December 2018
Acquires Nevsun
wins tender for RTB Bor Group
JAN 2011
initiates research and
staking of land package in
Timok
MAR 2012
announces first
licenses in Serbia
SEP 2013
announces Tilva Rosh
high-grade gold zone
JUN 2015
NOV 2015
Starts to
explore in Timok
DEC 2014
announces Zeleznik Cu-
Au porphyry discovery
APR 2016
Avala acquired
by
MAY 2016
acquires
JUL 2018
Form partnership for exploration
in Timok, Serbia
SEP 2012
announce Cukaru-Peki
discovery drill holes
OCT 2019
Formpartnership for exploration
in Timok, Serbia
Freeport announces
sale of lower zone to
NOV 2020
Expand partnership for two
additional licenses in Timok,
Serbia

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19
SOURCES:
1: GEOLOGY AND METALLOGENY OF THE PANAGYURISHTE ORE REGION, P. Popov et al., 2012
2: NI43-101 technical report, dd. 30th March 2020
3: Historical production mined. Also see Note 1 on next page
Bulgaria: Panagyurishte Overview – Mining District
Elatsite Mine1
(Cu,Au)
Geotechmin
Group
Operating Open
Pit Mine
154 Mt
0.33% Cu, 0.17
g/t Au
Chelopech
Mine2
(Cu, Au)
Dundee
Precious
Metals
Operating
Underground
Mine
M+I: 14.2 Mt
Inf: 1.9 Mt
0.94 % Cu,
2.86 g/t Au
0.84 % Cu,
2.02 g/t Au
Medet Mine1
(Cu, Au)
State Closed Mine 163 Mt
0.23% Cu,
0.10 g/t Au
Asarel Mine1
(Cu, Au)
Asarel Medet
Operating Open
Pit Mine
254 Mt
0.41% Cu,
0.07% Au
Radka Mine3
(Cu, Au)
Mundoro
(won tender in
Q4-17, currently
in Ministry
process)
Closed Mine
Historical Mined Production5
6.4Mt @ 1.06% Cu and
3g/t Au
Medet
Chelopech
Assarel
Elatsite
Radka
Aurubis Pirdop Smelter
Mundoro
Assarel Medet
Elatsite Med
Applications in process
10 km

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10 km
SOURCES:
1 “GOLD AND AURIFEROUS ORE GEORESOURCES AND PROCESSING TECHNOLOGIES IN BULGARIA ”, 2012, PROF. I.BALTOV ET AL.
2 “ORE PRODUCTION IN BULGARIA: 1878 - 1995”, 1996, V. MILEV ET AL.
3 NI43-101 REPORT, DD. 20 NOVEMBER 2020
4 NI43-101 REPORT, PRE-FEASIBILITY TECHNICAL REPORT, DD. 14 OCTOBER 2020
20
Chala Mine1
(Au, Ag, Pb, Zn)
Gorubso
Kardzhali
Underground
Mine
1.47 Mt
9.80 g/t Au,
3.67 g/t Ag
Madjarovo
Mine2
(Au, Ag, Pb, Zn)
State Closed Mine 8.6 Mt
3.0 g/t Au,
11.58 g/t Ag,
0.66 % Zn,
1.27 % Pb
Kumovgrad
Mine3
(Au, Ag)
Dundee
Precious
Metals
Open Pit
Mine
Provenand
Probable
Reserves:
4.26Mt
Inf: 0.32 Mt
4.8 g/t Au,
3.02 g/t Ag
2.09 g/t Au,
1.51 g/t Ag
Rozino Deposit4 Velocity
Minerals
PFS
Probable
Reserves :
11.8 Mt
1.22 g/t Au
Chala
Madjarovo
Krumovgrad
Rozino
Mundoro
Velocity Minerals
Other licenses
Applications in process
Bulgaria: Rhodopes Overview – Emerging District

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Highlights from Property Portfolio

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Location Status
Payments
to MUN
Operator
Exploration Royalty Next Milestones Potential
Vale – Mundoro JV Projects
22
Target 1
SW of the main
Zijin Bor
mining complex
2021 – Drilling and
geophysical
programs
Mundoro
Operator Fees
+ Phase II Annual
Payments
Vale sole-funds
US$45 million
in exploration
over 8 years
2 % NSR
Drilling the Tilva Mare target
area;
Upgrade targeting at Markov
Kamen east and Glavica
Copper & Gold Porphyry and
related Epithermal

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Location Status
Payments
to MUN
Operator
Vale – Mundoro Option projects
23
Target 1
15 km SW of the
Zijin Bor
Mine Complex
Option for 100 %
interest to Vale
Mundoro
US$200,000/yr
+ Operator Fees
+ Milestone Payments
+ ARP
Vale sole-funds
C$2 million in
exploration over
2 years
2 % NSR
Diamond drilling at Tilva Rosh
target, Follow up four identified
targets
Copper & Gold
Savinac Bacevica

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Location Status
Payments
to MUN
Operator
Borsko: High Sulphidation/Porphyry Targets – Available for Option
24
Target 1
Adjacent to the
producing Zijin Bor
mining complex
Mundoro 51%
JOGMEC 49%
Mundoro Operator Fees
JOGMEC
sole-funded
US$5.8 mln
2 % NSR
Drill test high-sulphidation and
porphyry targets
5 km
Mundoro- Vale
Drill Holes
Borsko license
Bor mine complex
Veliki Krivelj Mine
Cukaru Peki Deposit
Target 1
Skorusa porphyry
Cerovo Mine
Copper & Gold

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Zeleznik Copper & Gold Porphyry – Available for Option
25
Target 1
Next
Milestones
North Timok
1.5 km NW of
Majdanpek mine
Available for Option
100% Mundoro
ownership
Discovered porphyry
related systems
(West Zone
and East Zone)
New copper and gold
targets at the north
end of the license drill
target ready;
Option to a partner;
Potential
Copper & Gold
Exploration
Location Status
Operator
Py Chpy in
vuggy silica
Qtz Py Chpy
vein
Qtz Py Chpy
vein
Disseminated
Chpy
West Zone Porphyry:
B-veins 0.77% Cu and 0.17g/t Au
East Zone:
Fine-grained sulphides in
carbonate 0.35% Cu and 0.63g/t
Au
Central Zone and North Zone
New discovered gold
mineralisation
Majdanpek
Open-pit
Mine

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Next
Milestones
Potential
Exploration
Location Status
Operator
GT7 Copper Prospect – Available for Option
26
Target 1
40 km SE of the
Rudnik Pb-Zn-Ag
mining district
Available for Option
100% Mundoro
ownership
Identified through
Mundoro generative
program
Targets with
indications of copper
& gold for follow-up;
Option to a partner;
Copper & Gold
Qtz-Chpy-Mo
stockwork
Qtz-Chpy-Mo
vein
Qtz-Chpy- Py - Mo
B-type vein
Qtz-Chpy-Mo
vein
5 km

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01 02 03
Investment Rational
27
▪ Well funded senior
partners
▪ Diversified portfolio of
projects
▪ Lowest G&A structure
among peers
▪ Pipeline of mineral
properties
▪ Exposure to copper and
gold
▪ Potential for new
discoveries
QUALITY UPSIDE OPPORTUNITY
▪ Trading at discount to
Junior Peers
▪ Unique mineral revenue
generator model
▪ Significantly undervalued
with opportunity for re-rate

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29
“Over last 20 years of exploration, Mundoro has
pursued strong governance coupled with
environmental and social standards within all the
jurisdictions in which we operate, building
relationships based on trust and respect, and work
with local communities and partners to create
positive engagement and new opportunities.”
Teo Dechev
President and Chief Executive Officer
Our Approach to Responsible Mineral Development

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01 02 03
Our Approach to ESG
30
• Adhere to standards to protect wildlife
and plant life in the surrounding
habitat
• Restore landscape post exploration
• Work with drilling contractors to
minimize emissions
• Work with independent certified labs
• Increase awareness of safe work
practices
• Supporting healthcare initiatives in
local regions
• Supporting education initiatives in
local public schools
• Employing from local communities
and training for technical skills
• Contributing to local community
programs and charities focused on
health or education
• Respect human rights in stakeholder
engagement
• Committed to comprehensive
disclosure & open communication
with our stakeholders
• Join local organizations to advocate
ESG principles for exploration sector
• Board of Directors and all staff follow
Corporate Code of Conduct & Ethics
which is regularly updated
• Committed to Diversity in our
Workforce
Environmental Governance
Social

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01 02 03
31
Community & Culture Healthcare
Education
Our Approach to CSR
Partnering with Local Communities to Support Cultural Activities, Education and HealthCare
Renovation of a medical center in
Mineralni bani, Bulgaria
Donation of equipment to the hospital
Bor, Serbia
Field visits,
Technical Faculty Bor, Serbia
Donation equipment,
Elementary school Sumrakovac, Serbia
Students internships,
Sofia University & Mining University, Bulgaria
Playground donation,
Bor, Serbia
Donation to folklore festival,
Kucevo, Serbia
Donation to the Archeologycal Museum,
Alexandrovo, Bulgaria
Awards won for Community Contribution,
Bulgaria

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Jurisdictional Comparison of Mineral Laws

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Serbia Bulgaria Finland Chile Mexico USA British Columbia,
Canada
Location Southeastern Europe Scandinavian Peninsula -
Europe South America North America North America North America
Mining
History
Dating back to the Middle Ages. Source of base and
precious metals since Roman times
The mining in Finland dates
back for hundreds of years
Dates back to the Incas in
1460. Recognized as the
mining capital of Latin
America today
Mining-friendly history that
spans almost 500 years
Mining-friendly history
which dates back to
17th century
Mining friendly since
the 1900s
Tax regime (Source: Source: World Bank national accounts data, OECD National Accounts data, NI43-101 reports, Company reports )
Corporate Tax 15% 10% 20% ~20% ~30% 6% ~28%
Royalties 5 % on metals produced
in country
Negotiated royalty with
government (0.8 – 2.5 %)
Excavation fee per property is
€50 per hectare per year +
variable part of 0.15 per cent
of the calculated value of
mining minerals
5 % to 14% Specific mining tax
(SMT) based on production
7% EBITDA
0.5% of sales for PM
Ad valorem (At least 2
% of market price for
copper and gold)
Profit based (12%) or
ad valorem (2% of net
proceedings)
Tenure of Permits (Sources: S&P Market Intelligence, Company technical reports)
Process First-Come, First-Serve Public Gazette FCFS FCFS + Public Bulletin + Court FCFS + physical staking FCFS FCFS
Exploration 8 years (3+3+2) 7 years (3+2+2) 17 years (2+ 4 + 11) 4 years (2+2) Not applicable 6 years SL – No term
limits for BLM No term limits
Exploitation Term based on mine plan Maximum 25 years Term based on mining plan No term limits 100 years (50 years + 50 years) No term limits No term limits
Exploration
($, 2019) >$10-50 million > $10 million >$50 million $137.6 million $215.2 million ~$600 million $206.5 million
Economy (Source: World Bank national accounts data, and OECD National Accounts data files. Last data 2019)
GDP
(currentUS$) 51.5 billion 68.6 billion 269.3 billion 282 billion 1,268 billion 323.6 billion 253 billion
2019GDP
Growth 4.2% 3.7% 1.1% 1.1 % -0.1 % 3.1 % 1.9 %
Export/Imports
(US$) 26 billion/ 31 billion 44 billion / 42 billion 108 billion / 107 billion 80 billion / 81 billion 493 billion / 437 billion 25 billion / 27 billion 31 billion / 41 billion
Debt
(US$2019) 36 billion 41 billion 151 billion 70 billion 470 billion 44 billion 50 billion
Deficit
(%ofGDP2019) 1.7 % 1.4 % 6.84 % 8.71 % 5.8 % 5.7 % 1.6 %
Population ~7 million ~7 million ~5.5 million ~18 million ~129 million ~7 million ~5 million
Europe Compares Well to North & South America
33

TSXV:MUN
Appendix – Maps Exploration Targets

TSXV:MUN
35
Vale JV Projects – Skorusa & Oblez Targets
Skorusa West
Zone
Skorusa East
Zone
21-SKO-01
Skorusa South Target
Advanced argillic
alteration (lithocap)
21-SKO-02
21-SKO-03
21-SKO-04
21-SKO-05
21-SKO-06
A
A
Skorusa South Target
Southern extension of
the magnetic low
anomaly and advanced
argillic alteration
Tilva Mare Target
Geophysics program
lines
Markov Kamen
East Target
Anomalous
molybdenum
over the cover
rock
Glavica Target
Strong
magnetic
anomaly with
remnant
magnetism

TSXV:MUN
36
Vale JV Projects – Skorusa Porphyry Target TSXV:MUN
East Zone Drill hole 21-SKO-05 at 353.9-354.2m -
Anhydrite-Chalcopyrite-Pyrite-Sphalerite-Galena
(base metal) veins dipping to the west
West Zone - Drill hole 21-SKO-04 at 381m Quartz-
Molybdenite-Chalcopyrite veins in potassic altered
diorite porphyry
1.5km of phyllic alteration between the
West and the East Zone remains untested
West Zone East Zone
WNW ESE
Base-metal veins
dipping 60 to the
west towards
West Zone

TSXV:MUN
37
GT7 Project TSXV:MUN
Two discrete Cu-
Au-Mo in soil
anomalies (North
and South zones)
Gold correlates
with Cu, Zn, Pb,
As, and Sb,
characteristic of
porphyry-related
mineralisation.
GT7 North zone
Quartz “b” veins with central suture
of magnetite and chalcopyrite
typically forming stockworks in
porphyry copper-gold deposits.
North zone
South zone
GT7 South zone
Quartz vein with central suture
composed of magnetite and
chalcopyrite with molybdenite
grains located on the margins.
Current mapping area.
Legend

TSXV:MUN
Portfolio for Growth
TSX-V: MUN | OTCQB: MUNMF | Frankfurt: NGU
August 2021
mundoro.com

Mundoro Capital_Corporate_Presentation_August2021

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