Mundoro Capital Inc.: Announces Non-Brokered Private Placement

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. The Company intends to close the Offering on or about January 8, 2020. 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 as well as general corporate purposes.

JOGMEC-Mundoro Project in Serbia

In May 2019, the Company announced it had been notified by Japan Oil, Gas and Metals National Corporation ("JOGMEC"), on the Borsko-Jezero ("Borkso") license of its decision to sole-fund the Stage Two Earn-In on the Borsko license under the Earn-In Agreement between Mundoro and JOGMEC (press release on: www.mundoro.com). Mundoro has been re-appointed as the Operator for the JOGMEC-Mundoro Project and will receive an operator fee for operating the program. The Year 1 exploration program for the Stage Two Earn-In at Borsko, which is sole-funded by JOGMEC, commenced in May 2019 has been focused on completing a gravity survey over the remainder of the Borsko license and drill testing geophysical targets. Drilling is expected to be completed in Q4-2019 with results expected in Q1-2020.

Freeport-Mundoro Projects in Serbia

The Freeport-Mundoro Projects are currently in the Second Year of Phase 1 of the earn-in. The First Year under Phase I commenced in October 2018 and included a drill program of 4,778 m of diamond drilling in seven drill holes, which tested four target areas. Drilling commenced in Q4-2019 with results expected in Q1-2020.

Vale-Mundoro Projects in Serbia

In October 2019, Mundoro announced it had entered into an earn-in agreement with Vale Canada Limited in which Mundoro had granted to Vale an option to earn-in to four of Mundoro's exploration licenses: Sumrakovac, Osnic, Dubrava and Padina (the "Vale-Mundoro Projects") located within the TMC in Serbia (press release on: www.mundoro.com).

JOGMEC Generative Alliance

In March 2019 Mundoro entered into a Generative Program Agreement (the "Generative Alliance") in the Republic of Bulgaria with JOGMEC. The purpose of this Generative Alliance is to establish a generative program between Mundoro and JOGMEC, whereby Mundoro will carry out mineral exploration activities in Bulgaria under the direction of a joint Technical Committee with the view to identifying areas of interests that merit additional exploration and/or development work. Upon JOGMEC determining that one or more properties merit additional exploration and/or development work, JOGMEC has the right to establish a joint venture on that property with Mundoro. JOGMEC is sole funding the Generative Alliance.

Mundoro Generative Programs and Outlook for Projects Available for Option or Joint Venture

The Company has an ongoing target generation program where we evaluate both existing and new target areas. Several target areas in Serbia are currently under review. The Company has made a number of applications in 2019 for further exploration areas. Mundoro continues to have discussions with interested third parties seeking options on our available projects, confirming the growing interest in exploring in Timok, Serbia as well as in Bulgaria.

About Mundoro Capital Inc.

Mundoro is a Canadian mineral exploration and development public company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. The Company holds a diverse portfolio of projects in Serbia and Bulgaria as well as an investment in a producing gold mine in Bulgaria. There are eight licenses in Serbia, of which one is optioned to JOGMEC, indirect interests in two licenses are optioned to Freeport-McMoRan Exploration Corporation, four licenses are optioned to Vale and one license, Zeleznik, is available for third parties to option. In Bulgaria, Mundoro has formed a Generative Alliance with JOGMEC. Mundoro's common shares trade on the TSX Venture Exchange under the symbol "MUN".

For further information please contact:

Teo Dechev, CEO, President and Director of Mundoro Capital Inc. at +1-604-669-8055

Caution Concerning Forward-Looking Statements

This News Release contains forward-looking information and statements ("forward-looking statements") under applicable securities laws. All statements, other than statements of historical fact, included or incorporated by reference in this News Release are forward-looking statements, including, without limitation, the completion of the private placement, completion of exploration work on projects and licenses and results of that exploration work, the prospect of one or more additional joint ventures and other statements regarding activities, events or developments that the Company expects or anticipates may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "promising", "encouraging" or "continue" or similar words or the negative thereof. The material assumptions that were applied in making the forward-looking statements in this News Release include expectations as to the Company's future strategy and business plan and execution of the Company's existing plans. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur. We caution readers of this News Release not to place undue reliance on forward-looking statements contained in this News Release, which are not a guarantee of performance and are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, changes in law, regulatory processes, the status of Mundoro's assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and Mundoro undertakes no obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise, except as required by law.

Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company's filings with the Canadian securities regulators available on www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from registration is available. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in this private placement within the United States or to, or for the account or benefit of, U.S. Persons (as defined under Regulation S under the U.S. Securities Act).

Not for Distribution to a United States Newswire or for Dissemination in the United States