VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 19, 2010) - Mundoro Capital Inc. (TSX:MUN) (the "Company") provides the following update regarding the Maoling project and its financial and operating results for the year ended December 31, 2009. The highlights provided in this release should be read in conjunction with the Company's year-end financial statements and Management Discussion and Analysis, which will be filed on SEDAR at www.sedar.com by March 31, 2010. All dollar amounts are in U.S. dollars unless otherwise stated.

Project Termination Suggested by Joint Venture Partner

In January, 2010 the Company delivered to senior officials in the Liaoning government a report titled "A Study on Yushi Reservoir Water Source Protection Zoning and Analysis of Impact of Maoling project on Water Source Protection" prepared for the Company by three Chinese design institutes. In response to that report, on March 16, 2010 Mundoro received a letter dated February 22, 2010 from its Chinese partner in the Maoling joint venture suggesting that the parties immediately negotiate to terminate the Maoling gold project and liquidate the joint venture company. The reason cited for the proposed termination and liquidation are that current Chinese environmental and drinking water regulations make it impossible for the joint venture company to conduct mining activities at Maoling.

Mundoro does not intend to terminate the joint venture and liquidate the joint venture company. The Company believes that the work completed to date by its Chinese and international engineering firms and environmental consultants demonstrates that the project can be developed in a sustainable and responsible manner with no significant impact on the downstream water storage facilities supplying Yingkou City and Dalian City.

We intend to continue reasonable efforts to engage relevant Chinese and Canadian government agencies on the matter. It is unclear if our efforts will be successful. To date we have been unable to engage Chinese government representatives in a direct discussion of the scientific and technical facts from the various studies and reports completed to date. We are no longer in meaningful active discussions with any party regarding participation in the Maoling project. We are reviewing our alternatives with Chinese legal counsel and do not intend to expend significant further funds on the development of the Maoling project until such time as the political and legal alternatives have been identified and evaluated. There is no assurance that the Chinese government will permit development of the Maoling project.

Project Update

Considerable effort was made in 2009 to update earlier understanding of the technical and environmental aspects of the Maoling project as it relates to evolving Chinese government mining and environmental regulations. The effort focused on revising the processing plant circuit, the tailings storage facility and the water management for the Maoling Gold Project.

As part of the evolving Chinese regulatory framework, particularly with respect to cyanide management and Chinese tailings regulations, Mundoro commissioned Ausenco International Pty Ltd ("Ausenco") and Golder Associates ("Golder") to prepare a series of studies related to the Maoling Gold Project processing plant and waste storage facilities. The Ausenco study, completed in the fourth quarter of 2009, dealt with a modification to the process flowsheet to incorporate a flotation circuit. The optimized test work on the flotation and Carbon in Leach ("CIL") route achieved an overall recovery of 89%. This was comprised of 94% recovery to a flotation concentrate representing 8% of the feed tonnage and with the subsequent cyanidation of that concentrate gave 95% recovery, yielding an overall gold recovery of 89%, close to the 90% recovery previously achieved using no flotation. By incorporating the flotation circuit, the use of cyanide was reduced on a kilogram per tonne of ore basis.

Ausenco carried out an estimate of comparative capital costs and operating costs for the revised flowsheet, comprising an identical front end of crushing, grinding and gravity circuits, but with the addition of a simple bulk flotation circuit and a smaller CIL and cyanide destruction circuit. The capital cost estimate showed a small reduction compared to the original gravity-CIL circuit previously studied in 2007. The operating cost estimate showed a 25% reduction due mainly to the significant savings in cyanide consumption and the consequent reductions in cyanide destruction reagents.

The first of the Golder studies was to redesign the tailings storage facilities to reflect the flotation–CIL flowsheet completed by Ausenco. Mundoro also commissioned Golder to design the overall waste storage and water management plans for Maoling and to work with Chinese design institutes to draft a report on the environmental considerations for mine development in the Maoling area and how the development plan pertains to Chinese government mining and environmental regulations and international practices.

The Golder study for the waste storage facilities planned for Maoling demonstrates the flotation tailings could be stored in an unlined tailings storage facility as there is no cyanide in the flotation tailings. Only the CIL tailings, <10% of the mass, will require storage in a lined storage facility. Both tailings facilities are designed to be operated as closed circuit facilities and the CIL facility in addition would be zero release with flood event storage capacity exceeding Chinese regulatory requirements. A surface water and groundwater management plan has been designed by Golder for the construction, operation and closure phases of the Maoling project. This will minimize potential effects on downstream surface water systems.

These Golder studies, completed in the fourth quarter 2009, have been evaluated by three Chinese design institutes, in the context of Chinese environmental and mining regulations and in comparison with Chinese and international examples as related to downstream water storage issues, a key issue for Maoling. As part of the evaluation, the Chinese design institutes completed in January 2010 a report titled "A study on Yushi Reservoir Water Source Protection Zoning and Analysis of Impact of Maoling project on Water Source Protection" which concluded that Maoling can be developed in a sustainable and responsible manner with no significant impact on the downstream water storage facilities supplying Yingkou City and Dalian City.

In the fourth quarter of 2009, Mundoro continued with its community relations initiatives with the support of the Gaizhou County government (which is within the auspices of the City of Yingkou and is the closest town to Maoling). Mundoro implemented in September 2007 a community relations program to spend RMB 1.2 million (US$160,000) over a three year period to fund educational, health and sanitation development in Gaizhou County. Mundoro has contributed approximately RMB750,000 to the community for the upgrade of the Kuangdonggou Medical Clinic and educational contributions to the middle school in the form of computers, equipment and supplies. The remaining RMB450,000 will be contributed by the end of September 2010.

Financial Highlights and Management Changes

The Company's loss for the current year was $4,725,783 ($0.12 per share) as compared to a loss of $1,250,083 ($0.03 per share). The $3,475 700 increase in net loss for the current year is primarily attributable to an increase in foreign exchange loss and stock based compensation, and a decrease in interest earned on cash and cash equivalents in 2009. The 2009 loss was attributable to the following:

• Expenditures for Maoling project management activities of $518,670 in 2009, as compared to $484,615 in 2008.
• Expenditures for corporate expenses of $2,061,368, as compared to $1,834,451 in 2008.
• Foreign exchange loss of $637,748, as compared to a foreign exchange gain in 2008.
• Stock-based compensation of $1,546,874 (including $1,034,126 restricted share units exercised for cash), as compared to $201,069 in 2008.
• Amortization of $10,943, as compared to $17,847 in 2008.
• Interest income of $49,820, as compared to $437,381 in 2008.

The Company ended the year with $12,134,801 in cash and cash equivalents.

The Company's corporate expenses for the current year were $2,061,368 which was comparable to $1,834,217 of corporate expenses incurred in the preceding year. The increase in 2009 was principally due to a $163,594 increase in corporate governance costs due to additional director fees, travel, expenses and four additional board meetings in 2009, as well as legal costs associated with employment and compensation related matters. In addition, corporate development costs increased by $145,847 in 2009 due to management time allocated to corporate development activity in China and the evaluation of projects outside of China. These cost increases were partially offset by decreases in marketing expenditures and accounting fees incurred in 2008 relating to the Company's reorganization whereas none were paid in 2009.

As of March, 2010 Mundoro added to the management team a contract Chief Financial Officer for the Company. Mr. Bradley Blacketor is a Certified Public Accountant with over 17 years experience in the mining industry. Most recently, Mr. Blacketor has served as Vice-President, Chief Financial Officer and Secretary of Metallica Resources Inc. for 11 years, a company listed for trading on Amex and the TSX. Previous to Metallica, Mr. Blacketor served as Chief Financial Officer of MinCorp Ltd., and held senior management positions with Pincock, Allen & Holt, Inc. and Touche, Ross & Co. Mr. Blacketor holds a Bachelors Degree in Business Administration from Indiana University and a Masters Degree in Business Administration from Colorado State University.

About Mundoro Capital Inc.

Mundoro Capital Inc. is a Canadian based company which operates as a mineral exploration, development and investment company. The 100% ownership of Mundoro Mining, and its Maoling Gold Project, remains the key asset of the Company. Mundoro Capital will also evaluate and invest in other 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.

About Mundoro Mining Inc.

Our vision is to create value for all of our stakeholders from responsible mining. Our mission is to build a state of the art large scale gold mine at Maoling meeting or exceeding all applicable Chinese and international environmental standards. 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%. 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. In 2005 a Reserve of 2.8 million ounces in the Probable category 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 pending the renewal of a business license for Mundoro Mining's joint venture company, Liaoning Tianli Mining Company Ltd.

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.