Mundoro is a Canadian listed (TSX-V: MUN) precious and base metal company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. Mundoro has generated an attractive mineral project pipeline in Serbia and Bulgaria, as well as an investment in a producing gold mine in Bulgaria, in order to drive long-term growth and achieve shareholder return. Potential future returns for our shareholders from our mineral properties can be in various forms such as discovery of mineral resources, royalties, advance royalty payments from partners, an interest in production, dividend payments or sale of our interest in the mineral property.

1. Focused Investment in Gold & Copper
August 2020

2. 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

3. TSXV:MUN
Proven Partner
Model
Commodities
Focused on Copper and Gold
Experienced Team
Fiscal Discipline
Strategic Investments
Strategic Land Package
in World Class Districts
3
Portfolioof
CopperandGold
Projectsto
GenerateFuture
Value
Our Vision and Path

4. TSXV:MUNOur Business Model
4
Target Discovery Stage
• District-Scale Land Packages
• Strategic locations
• Copper and gold focus
• Attractive for partners
Partners sole-fund exploration through:
• Partners 100% sole fund exploration
• Strategic alliances
• Joint ventures, Earn-ins, Options
• Business transactions
• Provide turn key solution to operate
programs with experienced team
• Maintain optionality, including drilling
our own projects when beneficial
• Retain NSR royalty
• Collect operator fees
• Advance royalty payments
• Carried to commercial production
• Outright sale of assets
SOURCE
DISCOVER
PARTNER
MONETIZE

5. TSXV:MUNGenerating Value Through Partner Model
5
UNLIMITED 100+ 10+ 1+
GENERATOR MODEL PARTNER MODEL
P R O J E C T S P R O J E C T S P R O J E C T S P R O J E C T S

6. TSXV:MUN
Create and Monetize Value
Our Growth Pipeline
6
Available to Partner Generating PaymentsProject Applications Agreements in Place
JOGMEC Generative (Cu)
10 Applications (Cu, Au)
Pesnopoy (Cu, Au)
Byalo (Cu, Au)
Svoboda (Cu, Au)
Bacevica (Cu & Au)
JOGMEC – Borsko (Cu, Au)
VALE Projects (4)
Zeleznik (Cu, Au)
Savinac (Cu & Au)

7. TSXV:MUN
Mundoro’s Position in Market vs Peers
7

8. TSXV:MUNComparable Companies Enterprise Values
8
Source: Koyfin on August 4, 2020
Explorers (Pre-resource)Royalty & StreamingGenerators
EnterpriseValue
(CAD$M)
1,000
100
10
1

9. TSXV:MUNComparable Companies Metrics
9
Notes:
1. Price as of August 20, 2020, CAD$
2. Q1-2020, CAD$ Millions.
Source: Company reports, Mundoro

10. TSXV:MUNMundoro’s Growing Partner Funding and Revenue
Maintaining Low Dilution
10

11. TSXV:MUNOur Shareholder Base and Share Price History
SHARE CAPITALBALANCE SHEET (CAD$, Q2 2020)
2.4
MILLION
0$
Cash & Cash
Equivalents Debt
11
SHARE PRICE
(Updated on August 4, 2020)OWNERSHIP
$
Shares
Outstanding (Basic)
81,400,000
Options
7,860,000
Warrants
(exercise price $0.20)
14,639,946
Fully Diluted
Shares Outstanding
102,832,446

12. TSXV:MUN
Mundoro’s Commitment to
Environmental, Social and Governance
12

13. TSXV:MUN
“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
13
Our Approach to Responsible Mineral Development

14. TSXV:MUNThree Pillars of Sustainable Development
14
Our exploration programs consider:
 Recycle, reduce and reuse
 Adhere to standards to protect wildlife and
plant life in the surrounding habitat
 Restore landscape post exploration
 Work with drilling contractors to minimize
emissions
Our social programs focus on:
 Increasing awareness of safe work practices
 Improving healthcare in local regions
 Improving education environment for local
public schools
 Employing from local communities and
training for technical skills
 Contributing to local community programs
and charities focused on health or education
 Committed to comprehensive disclosure and
open communication with our stakeholders
 Board of Directors and all staff follow
Corporate Code of Conduct & Ethics which is
regularly updated
 Work with independent certified labs
 Respect Human rights in stakeholder engagement
 Join local organizations to promote ESG
principles for exploration sector
Environmental GovernanceSocial

15. TSXV:MUN
Teo Dechev
MBA, P.Eng, ICD.D
CEO, President and Director
John Hoey
Non-Executive Chairman,
Governance and Nominating
Committee Chair
Michael Calyniuk
Independent Director
Audit Committee Chair
Nick Hatch
Independent Director
Compensation Committee
Chair
Our Team & Advisors
15
Christopher Wong
MBA, CPA, CMA
CFO
Richard Jemielita, PhD
Chief Geologist
Yassen Krishchev
Exploration Manager
Ivan Veljkovic
Project Admin. & Community
Relations Manager, Serbia
ADVISORS Richard Sillitoe
PhD, Porphyry Systems
Leigh Rankin
PhD, Structural
Richard Moores
Generative
Alan Riles
Metallurgy

16. TSXV:MUN
16
Understanding the Discovery Potential
of the Western Tethyan Belt

17. TSXV:MUNStrategic Importance of the Tethyan Belt
1717
• Tethyan Belt hosts 5.7% of the world’s deposits
• 30% of all Tethyan deposits are in Eastern Europe
• 39% of gold ounces are in Eastern Europe

18. TSXV:MUNMundoro’s Project Portfolio in Tethyan Belt
18

19. TSXV:MUN
MAR 2016
• &
partnership
• announces sale of
portion of Cukaru-Peki
19
September 2018
and Nevsun
announce take-over
December 2018
wins tender
for RTB Bor Group
JAN 2011
initiates research and
staking of land
package in Timok
MAR 2012
announces first
set of licenses in
Serbia
SEP 2013
announces Tilva Rosh
high-grade Au zone
discovery holes
DEC 2014
announces Zeleznik
Cu-Au porphyry
discovery
JUN 2015
signs with
NOV 2015
Reservoir and Avala sign with
APR 2016
Avala acquired back into
MAY 2016
acquires
Reservoir
July 2018
and
sign earn-in agreement
for exploration of two
licenses in Timok,
Serbia
SEP 2012
and
announce Cukaru-Peki
discovery drill holes
OCT 2019
&
sign earn-in agreement
for exploration of 4
licenses in Timok,
Serbia
Timok, Serbia Focus of Acquisitions from International Miners

20. TSXV:MUN
Portfolio in Serbia
20

21. TSXV:MUN
Notes 1. Third party resources estimates based on those reported by RTB Bor Group. Resources reported according to Russian classification system. 2. Nevsun NI 43-101 Technical Report on SEDAR.
21
Majdanpek1 (Cu, Au)
Operating Open Pit Mine
620 Mt @ 0.34% Cu, 0.20 g/t Au
Veliki Krivelj Mine1 (Cu, Au)
Operating Open Pit Mine
137 Mt @ 0.35% Cu, 0.09 g/t Au
Bor Mine1 (Cu, Au)
Development Project
14 Mt @ 0.8% Cu, 0.27 g/t Au
1,008 Mt @ 0.53% Cu, 0.16 g/t Au
Cukaru Peki2 (Cu, Au)
Development Project
Upper:M+I28.7Mt@3.7%Cu,2.5g/tAu
Lower:Inf1,659Mt@0.86%Cu,0.18g/tAu
10 Kilometres
Vale-Mundoro ProjectsJOGMEC-Mundoro Project
Timok Regional Overview:
District with 100 Years of Mining History

22. TSXV:MUN
22
JOGMEC – Mundoro Project

23. TSXV:MUN
Veliki Krivelj
Cukaru Peki
Bor Mine Complex
Target 119-BJ-24
19-BJ-22
19-BJ-23
19-BJ-27
19-BJ-26
19-BJ-25
18-BJ-19
TSXV:MUN
23
Joint Venture between:
Mundoro – 51%
JOGMEC – 49%
JOGMEC funded to-date US$5.8 mln
Next Milestone: Targets ready for drilling
Borsko: High Sulphidation
& Porphyry Targets

24. TSXV:MUN
Resistivity-High Geophysical
Anomaly
Argillic alteration
with Pyrite
Target 1
Cover volcanic rock
Vuggy silica with massive pyrite
Semi-massive fine-grained sooty pyrite
31.2m @ 0.77g/t Au,
including 8.0m @ 1.8g/t Au
and 4.7g/t Ag
Enargite-pyrite
18.0m @ 0.17 g/t Au,
including 3.4m @ 0.33
g/t Au; 3.3g/t Ag and
0.27% Cu
24
Long Cross Section of Target 1 and Southwest Target

25. TSXV:MUN
2525
Vale – Mundoro Projects

26. TSXV:MUN
26
 Status: Optioned to Vale
 Location: Southwest of the main Zijin
Bor mining complex
 Exploration: Skorusa Porphyry and regional
exploration target testing
 Next Milestone: Exploration in H2-2020 to test targets
Veliki Krivelj
Skorusa
Cukaru Peki
Tilva Mare
Bor Mine Complex
Tilva Rosh
Markov Kamen
Borsko
Vale-Mundoro Projects

27. TSXV:MUN
27
 Status: Optioned to Vale
 Location: Southeast of Krivelj Mine
& Directly east of the main Bor Mine
 Exploration: limited work to date
 Next Milestone: Upgrading geophysical data
and interpretation for target testing
Miocene sediments
Andesitic tuff and agglomerate
Timocite
Limestone
Vale - Mundoro Projects
JOGMEC-Mundoro Project
Veliki Krivelj Mine
Cukaru Peki
Deposit
Bor Mine
6km
What makes the east
flank of Timok interesting
exploration package?

28. TSXV:MUN
28
Projects for Optioning
28

29. TSXV:MUN
N
Silification
Advanced argillic
Argillic
Phyllic
Propylitic
IP lines
CSAMT lines
Current drilling program
Previous drilling program
29
 Status: Available for Option
 Exploration: Freeport sole funded
US$3.2 million for these Projects
Markov Kamen
Drilling - 4114 m
IP survey - 32 l/km
CSAMT survey - 24 l/km
Prekostenski
Drilling - 3190 m
IP survey - 24 l/km
CSAMT survey - 7 l/km
D-Vein
Drilling - 793 m
IP survey - 14 l/km
CSAMT survey - 7 l/km
Orlovo
Drilling - 3162 m
IP survey - 14 l/km
CSAMT survey - 7 l/km
Tilva Rosh
Drilling - 6172 m
IP survey - 64 l/km
CSAMT survey - 35 l/km
Porphyry & Epithermal Targets

30. TSXV:MUN
30
East Zone
Massive Sulphides &
porphyry discovery
Majdanpek
Mine
Complex
North Pit
South Pit
Cu-Au porphyry
discovery 1.5 km from
Majdenpek Mine
West Zone
Exploration:
New copper and gold
targets at the north end of the
license require drill test. Exploration
to date discovered to mineralized
systems at the south end of the license
Next Milestone: Expansion
drilling required to expand known zones
 Status: Available for Option
 Location: North Timok
Serbia: Zeleznik

31. TSXV:MUN
31
NOTES
1: Combined mined and remaining resources; source:
government reports
2: NI43-101 technical report, dd. 28th March 2016
3: Mined out resources; source: government reports
4: Combined mined and remaining resources; source:
government reports
5: Historical production mined. Also see
Note 1 on next page
Bulgaria: Panagyurishte
Regional Overview
Mines &
Projects in the
District
Company Status Tonnage Resource Grade
Elatsite Mine1
(Cu,Au)
Geotechmin
Group
Operating
Open Pit Mine
356 Mt 0.39% Cu, 0.17 g/t Au
Chelopech
Mine2
(Cu, Au)
Dundee
Precious
Metals
Operating
Underground
Mine
M+I: 12.6
Mt
Inf: 1.8 Mt
1.08% Cu, 3.45 g/t Au
0.96% Cu, 2.44 g/t Au
Medet Mine3
(Cu, Au)
State Closed Mine 165 Mt 0.32% Cu, 0.20 g/t Au
Asarel Mine4
(Cu, Au)
Asarel Medet
Operating
Open Pit Mine
420 Mt 0.37% Cu, 0.07% Au
Radka Mine5
(Cu, Au)
Mundoro
(tender process
ongoing)
Closed Mine
Historical Mined Production5
6.4Mt @ 1.06% Cu and 3g/t Au

32. TSXV:MUN
32
15km of pervasive
hydrothermal alteration
between known
deposits and numerous
Cu-Au occurrences
Asarel Medet Mine
Radka
Mine1
In operation from 1928 to 1997 with
total production of:
• 6.4 Mt at 1.06% Cu and 3g/t Au
Historical mineral resource of:
• 2.02 Mt at 0.57% Cu and 0.60 g/t
Au (Category 221)
• 0.27 Mt at 0.53% Cu and 0.60 g/t
Au (Category 222)
Red Hill
Prospect1
Historical mineral resource of:
• 50,000 tones at 1.42% Cu and
0.60 g/t Au (Category 331)
• 0.6 Mt at 0.76% Cu and 4.5g/t Au
(Category 333)
Mundoro License
Asarel License
Propylitic Alteration
Phyllic / Argillic Alteration
Medet Mine
Auribus Smelter
Note 1 - 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.
Panagyurishte: Svoboda High
Sulphidation & Porphyry
Potential

33. TSXV:MUN
NOTES
1 Source: “Gold and Auriferous Ore Georesources and Processing Technologies in Bulgaria ”, 2012, Prof. I.Baltov et al.
2 Source: “Gold and Auriferous Ore Georesources and Processing Technologies in Bulgaria ”, 2012, Prof. I.Baltov et al.
Source: “Ore production in Bulgaria: 1878 - 1995”, 1996, V. Milev et al.
3 Source: NI43-101 report, dd. 21 March 2014
4 Source: NI43-101 report, Mineral resources estimation for the Rozino Gold Deposit, 5 April 2018
33
Project Company Status Tonnage Resource Grade
Chala Mine1
(Au, Ag, Pb, Zn)
Gorubso
Kardzhali
Operating
Undergrou
nd 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 in
Constructi
on
M+Ind: 6.9 Mt
Inf: 0.3 Mt
3.85 g/t Au, 2.15 g/t Ag
1.31 g/t Au, 1.06 g/t Ag
Rozino
Deposit4
Velocity
Minerals
Resource
Drilling &
PEA
Inf: 8.2 Mt 1.68 g/t Au
Chala
Madjarovo
Kumovgrad
Rozino
Bulgaria: Rhodopes Regional Overview

34. TSXV:MUN
34
Target Highlights
Bryastovo Copper – Gold high sulphidation and
Porphyry Target
• Historical Reserves of 5.4Mt @3.93%
Pb, 0.96% Zn, 0.37% Cu
Chuka
Copper-Gold
Porphyry
Target
2016 drilling showed pervasive Cu-Au
mineralisation over the 383 meter hole
length
Drill hole CDD-001:
• 66.8m @ 0.22g/t Au starting at surface;
• 146.5m @ 0.40% Cu and 0.12 g/t Au;
including 80.5m @ 0.51%Cu and
0.15g/t Au
Sage (1984–1992 Historical Production from Pb-Zn-Cu Mine)
Ore
(kT)
Grade Content Metals
Pb % Zn % Cu %
Ag
ppm
Cd
ppm
Pb t Zn t Cu t Ag kg Cd kg
425.5 1.86 1.23 0.24 7.9 71 7909 5227 1017 3373 30000
AV Target:
Gold
Base Metal
Target
Saje Project:
Pb-Zn-Cu-Ag
Eplika Target:
Gold
Chuka Target:
Cu-Au Porphyry
Privately
Owned
Gold Mine
Bryastovo Target:
Copper & Gold
Rhodopes: Exploration Upside through Epithermal
& Porphyry Targets

35. TSXV:MUN
Appendix of Additional Information
35

36. TSXV:MUN
Sweden Serbia Bulgaria Mexico Canada Chile
Location Scandinavian Peninsula - Europe Southeastern Europe North America – South of USA North America South America
Mining History Sweden has a history dating back
6,000 years
Dating back to the Middle Ages. Source of base and precious metals
since Roman times
Mining-friendly history that spans almost
500 years
Mining friendly since the 1900s Dates back to the Incas in 1460. Recognized
as the mining capital of Latin America today
Mining Law Minerals Act came into force on July
1, 1992; Last amended Mar 8, 2018
Mining and geological exploration
law approved December 2015
Mining Law established 1999;
Update 2011, 2015, 2018
1993 Mining Law enabled companies to be
established with 100 % foreign investment
Established 19th century,
updated 2009
Mid 14th Century Continual Amendments;
Potential changes upon election results 2013
Trade Agreements EU member since 1995 EU candidate since March 2012 EU member since January 2007 North America Free Trade Agreement
(NAFTA) in 1994
NAFTA member since 1994 FTA's EU - Chile since 2002, US - Chile since
2004, Canada-Chile since 1997
Tax regime
Corporate 22% 15% 10% ~30% ~28% ~20%
Royalties No government specified royalty 5 % on metals produced in
country
Negotiated royalty with
government (2 - 3 %)
7% EBITDA
0.5% of sales for PM
No government specified royalty 5 % to 14% Specific mining tax (SMT) based
on production
VAT 25 % (refundable) 20 % (refundable) 20 % (refundable) 16 % (refundable) 5 % (GST non-refundable) 19 % (refundable)
Profits No restrictions Unrestricted transfer of profits and capital 10% withholding tax (foreign dividends) 5% withholding tax (foreign
dividends)
No restrictions
Labour Highly skilled but high cost Highly skilled and affordable labour Affordable labour Highly skilled but high cost Highly skilled and high cost
Economy (World Bank national accounts data, and OECD National Accounts data files. Last data 2017)
GDP (current US $) 535 billion 41.4 billion 58.2 billion 1,150 billion 1,647 billion 277 billion
2017 GDP Growth 2.10% 1.90% 3.80% 2.00% 3.00% 1.50%
Export/Imports(US$) 242.9 billion / 223 billion 21.7 billion/ 25.4 billion 39.2 billion / 37 billion 435.8 billion / 456.5 billion 511.4 billion / 550.3 billion 79.5 billion / 74.8 billion
Debt (US $ 2018) 193 billion 25 billion 12 billion 644 billion 1,500 billion 70 billion
Deficit (% of GDP
2018)
0.8% 0.6% 1.8% 2.2% 0.6% 1.5%
Population (2017) ~10 million ~7 million ~7 million ~129 million ~36.7 million ~18 million
Foreignownedmines 6 7 2 na na 13
Tenure of Permits ( in years)
Exploration 15 years (3+3+4+5) 10 years (3+3+2+2) 8 years (3+2+2+1) Not applicable No term limits Exploration continues in Exploitation
Exploitation 35 years (25 years + 10 years) Term based on mine plan Maximum 25 years 100 years (50 years + 50 years) No term limits No term limits
Exploration $ (2018) >$50 million $100 million > $10 million $383 million $1,099 million $603 million
Source: World Bank national accounts data, OECD National Accounts data, NI43-101 reports, Company reports.
Comparison of Jurisdictions

37. TSXV:MUN
37
Contact us:
+1-604-669-8055
info@mundoro.com
Social media updates: