MMI Messina Minerals Inc.

Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") is pleased
to provide an update to shareholders for the third quarter of 2011.


In the third quarter, Mundoro completed:



i.  the strategic transaction announced August 2, 2011 regarding the Maoling
    Gold Project ("Maoling"); 
ii. listed on the TSX Venture Exchange ("TSXV") as of September 30, 2011; 
iii.strengthened the exploration expertise with the appointment of Richard
    Moores to the Board and appointment of Michel Cormier as Vice President
    of Exploration; 
iv. ramped up the exploration program at the Company's mineral properties in
    north-central Mexico and completed a NI 43-101 Technical Report on the
    Cuencame Property in Durango State; 
v.  project generation initiatives and evaluation of opportunities for
    advanced stage mineral projects. 



As of October 31, 2011, the Company has approximately US$20.6 million in cash
and cash equivalents, and no debt. Mundoro has 38.4 million shares issued and
outstanding.


Strategic Transaction

In the third quarter, on August 2, 2011, the Company announced the Strategic
Transaction with China National Gold Group Hong Kong Limited ("CNGHK"). CNGHK is
a wholly-owned subsidiary of China National Gold Group Corporation ("CNG").
Subsequent to the end of the quarter on October 11, 2011, the Company announced
the completion of the Strategic Transaction with China Gold Hong Kong Holding
Corporation Limited ("CGHK"), a subsidiary of CNGHK which has purchased
36,711,858 common shares of Mundoro Mining Inc. ("MMI") representing 95% of the
issued and outstanding shares of MMI for a cash purchase price of $13,800,000.
The Company currently owns 1,932,203 common shares of MMI, representing 5% of
the issued and outstanding shares of MMI.


As outlined in the Company's Information Circular dated August 30, 2011, the
Company and CGHK entered into a Shareholders Agreement that governs the
shareholding of MMI. CGHK has operating control of MMI and its board with the
goal of advancing the development of the Maoling Gold Project. Upon attaining a
mining permit for Maoling, CGHK can effect a control sale of its position in MMI
to a public entity controlled by CNG, CNGHK or any other purchaser for Fair
Market Value, as defined in the Shareholders Agreement and, under these
circumstances, the Company would have a tag along obligation to sell its 5% in
MMI on the same terms and conditions. If the control sale does not meet the
conditions outlined in the Shareholders Agreement, the Company does not have a
tag along obligation. Both the Company and CGHK have a mutual right of first
refusal to purchase the shares in MMI held by the other party if either party
desires to transfer the shares it owns to a third party that does not meet
control sale conditions. Mundoro is in the process of nominating one director to
the MMI board.


TSX Venture Listing

In the third quarter of 2011, Mundoro applied to and received approval from the
TSXV to have its common shares commence trading on the TSXV as of September 30,
2011 under the symbol "MUN". The Company ceased trading on the Toronto Stock
Exchange (the "TSX") where on September 29, 2011. The Company notes that a
transfer in its stock exchange listing to the TSX Venture can provide greater
operational efficiency and lower costs for the Company, while providing
shareholders liquidity on a recognized exchange. The Company's common shares
continue to trade on the Frankfurt Exchange under the symbol "NGU" and the over
the counter market in the United States under "MUNMF".


Strengthen Exploration Team

During the third quarter, the Company strengthened its exploration expertise
with the appointment of Richard C. Moores as a director to the Board and the
appointment of Michel Cormier as Vice President of Exploration. Mundoro's CEO
and President, Teo Dechev, commented, "Mr. Cormier is an excellent addition to
the exploration team who brings with him 35+ years of experience in running
successful planning and management of exploration programs leading to the
discovery and development of economically feasible gold deposits in Canada,
Mexico, Guinea, Niger, Burkina Faso, Algeria and Ghana. Mr. Moores brings 40+
years of experience in porphyry-style deposits for which he has directed
successful exploration and development programs in a wide range of countries
including the USA (Florence-Cu, Sanchez-CuSXEW), Kazakhstan (Balkhash-Cu),
Mongolia (Erdenet-CuSXEW), Turkey (Copler-Gold), Colombia (Toldafria-Gold)."


Mexico Exploration Program

In August 2011, Mundoro received a NI 43-101 compliant Technical Report on the
Company's 100% owned Cuencame Property which covers approximately 45,215
hectares (452 sq km) in three mineral concessions. The Technical Report was
independently compiled and submitted by Geologica Groupe-Conseil Inc.
(Geologica) of Val-d'Or, Quebec, Canada. The report is supported by a field
visit held in August, 2011, and rock sampling by Geologica confirmed that the
observed limestone belong to the favorable host sedimentary Tertiary
stratigraphic units and formations hosting several local polymetallic skarn
replacement and/or epithermal vein-type deposits present in the immediate and
far area. In the light of these observations and results obtained during the
site visit, three types of mineralization could be recognized to be potentially
present on the Cuencame Property: 1) Vein-type and mantos containing
polymetallic (Pb, Zn, Cu, Ag, Au) mineralizations; 2) Vein-type epithermal
containing precious metals (Au, Ag); and 3) Porphyry copper-type with
disseminations, veins and veinlets network of copper minerals associated with
altered and fractured differentiated intrusions of felsic to mafic composition.
The Technical Report recommends a two phase exploration program consisting of
initial surface exploration followed by a trenching and diamond drilling
program. The Company opened an exploration office in Durango and has staff and
contractors to commence the first phase of field work in Q4 2011. This will be
organized under the supervision of Michel Cormier, Vice-President Exploration
for Mundoro and a "Qualified Person" as defined by NI43-101. Mundoro has also
submitted applications for additional 12 concessions (184,249 hectares) located
in Durango and Chihuahua States, Mexico.


Project Generation Initiatives

The Company's project generation initiatives focus on targeting mineral belts
which the Company believes have good exploration potential. In order to stake
mineral concessions or acquire mineral projects, the key criteria are that the
property should be: (i) precious metal focused, (ii) potential for significant
resource to host a future operation (iii) located in a proven geological belt
with existing mineral production; (iv) located in a jurisdiction where there is
a precedent of developing a resource property from early exploration through to
production; and (v) be located in an area where the Corporation has strategic
advantage from in-house expertise. In parallel with the exploration strategy,
the Company will continue to evaluate advanced stage projects to maximize the
efforts to reach production from an operation. All properties staked or acquired
will be evaluated on a quarterly basis as to whether to continue exploration;
progress into development; drop the property, or joint venture with another
company.


Normal Course Issuer Buy Back Program

Mundoro announces that it has submitted to the TSX Venture ("TSXV") of its
Notice of Intention to Make a Normal Course Issuer Bid (the "NCIB Program"). In
the opinion of the Company, its common shares ("Common Shares") have been
trading at prices that do not reflect the underlying value of the Company,
including its (i) strong financial position, (ii) exploration program in a
prospective mineral region in the Mesa Central belt of Durango-Chihuahua, (iii)
concession applications in Eastern Europe along the highly prospective Tethyan
Metallogenic Belt that hosts world class porphyry and epithermal deposits and
(iv) minority interest in the Maoling Gold Project. Accordingly, Mundoro
believes purchasing its Common Shares at current price levels represents an
opportunity to enhance value for shareholders. The Company's strong cash
position allows for the implementation of the NCIB Program, subject to
regulatory approval, without adversely affecting Mundoro's growth opportunities.


Pursuant to the proposed NCIB Program, the Company plans to purchase for
cancellation up to a maximum of 1,919,963 of its Common Shares, or approximately
5% of the Common Shares outstanding. As of November 4, 2011, there were
38,399,276 Common Shares of Mundoro Capital issued and outstanding.


The purchases will be made by the Company through TD Securities Inc. and in
accordance with the rules of the TSXV, and the price which the Company will pay
for any such Common Shares will be the market price at the time of acquisition.
The Company will make no purchases of Common Shares other than open market
purchases or other means approved by the TSXV.


The actual number of Common Shares of the Company that are purchased for
cancellation under the Bid, if any, and the timing of such purchases will be
determined by management as approved by the Board of Directors of the Company.
The Company previously entered into a normal course issuer bid between May 29,
2008 and May 28, 2009. During this time, the Company repurchased 323,760 common
shares at an average price of $0.33. All shares purchased were cancelled
according to the requirements of the Toronto Stock Exchange.


On behalf of the Company,

Teo Dechev, Chief Executive Officer and President

About Mundoro Capital Inc.

Mundoro is a Canadian-based company which operates as a mineral acquisition,
exploration, development and investment company. Mundoro has an active
exploration program in Mexico where it has the 100% owned Cuencame Property
(45,215 hectares) and has made application for twelve additional mineral
concessions (184,249 hectares) in Durango and Chihuahua States. The Company has
an interest in the Maoling Gold Project through its 5% interest in MMI. Maoling
is a pre-feasibility stage gold deposit located in Liaoning Province, China and
has a gold resource with 4.4 million gold ounces (158 million tonnes at 0.9 g/t
gold) in the Measured and Indicated category and an additional 4.8 million gold
ounces (161 million tonnes at 0.92 g/t gold) in the Inferred category. The
pre-feasibility study outlined a Reserve of 2.8 million ounces (88 million
tonnes at 1 g/t gold) in the Probable category. The Company's project generation
program has identified properties for acquisition in Eastern Europe. Mundoro is
well funded to advance its projects with approximately US$20.6 million as of
October 31, 2011. Mundoro has 38.4 million shares issued and outstanding.


Forward-Looking Statements

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 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
NI 43-101. Resource estimation for the Zone 4 area in 2001 was carried out by
Dr. Peter D. Lewis, P.Geo., (Lewis Geoscience Services Inc.), an 'Independent
Qualified Person' as defined by NI 43-101. NI 43-101 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.

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