NMI Namibia Critical Metals Inc

Mundoro Capital Inc. (TSX VENTURE:MUN) ("Mundoro" or the "Company") provided an
update today on the Company's annual general meeting of shareholders (the
"Meeting"), which is scheduled to be held on Monday, August 27, 2012. As
previously announced, the Board of the Company has postponed the Meeting so that
there is ample opportunity for any shareholder seeking to propose director
nominations to do so in connection with an Advance Notice Policy (the "Policy")
adopted by the Company. 


On June 14, 2012, counsel to Northern Minerals Investment Corp. ("NMI") advised
that it would be filing a petition in the Supreme Court of British Columbia (the
"Petition") seeking (a) a declaration that the Policy is unenforceable; and (b)
an order that the Company not disallow any nominations of a person for election
to the Board on the basis of the Policy. NMI subsequently amended its Petition
to also seek orders that the Company is not permitted to (i) postpone or adjourn
the Meeting from June 26, 2012 to any later date or (ii) change the record date
from May 22, 2012.


The Company and NMI appeared before the Court on June 15, 2012. The Company
opposed the granting of any relief sought by NMI in its Petition. After hearing
submissions from both sides, the Judge advised that his decision would be
rendered by no later than the morning (Vancouver time) of Thursday, June 21,
2012. 


While dissident shareholder NMI has yet to specifically state that it will be
seeking to advance an alternate slate of directors, or alternate director
nominees, at the Meeting, the Company believes that NMI and parties acting
jointly or in concert are positioning themselves to launch a proxy fight for the
Board. 


The Company believes that NMI is connected to Allen Lee (also known as Allen Li,
Hong Jun Lee or Hong Jun Li) and other possibly related parties as a result of
the Company's review of certain public filings and NMI's and Mr. Lee's shared
use of the same lawyers at one law firm. Mundoro had previously entered into a
consulting agreement with the Allen Lee Group on September 18, 2008, as
described in a press release of the Company. Because the Allen Lee Group was
unable to achieve the objectives of the consulting arrangement, the agreement
was neither renewed nor extended by the Company and expired on September 18,
2009. 


Earlier this month, the Company raised concerns and questions with Mr. Lee
regarding compliance with reporting requirements under applicable securities
laws and specifically National Instrument 62-103 - The Early Warning System and
Related Take-Over Bid and Insider Reporting Issues. Counsel to Mr. Lee has
provided a wholly unsatisfactory response to the Company. The Board is
vigilantly continuing to review the cross-relationships to determine if any
securities violations have occurred, particularly in light of a possible proxy
battle.


"Your board will continue to vigilantly protect the interest of the Company to
ensure, as a governance matter, a fair and informed election of directors," said
Company Chairman John Hoey. "We urge Mr. Lee to come clean with his connections
to NMI and other related companies so that shareholders have a full
understanding of his holdings and, in particular, present to the Company and its
shareholders his intentions for the board and the Company - both the law and
principles of fairness demand this."


On behalf of the Company,

Teo Dechev, Chief Executive Officer, President and Director

About Mundoro Capital Inc.

Mundoro is a Canadian based company which operates as a mineral acquisition,
exploration, development and investment company. The Company's target
exploration areas are the Tethyan belt in South Eastern Europe and the Mesa
Central Belt in Mexico, both of which are mineral belts the Company believes
have strong exploration potential. The Company maintains an interest in the
Maoling Gold Project through its 5% interest in Mundoro Mining Inc. 


Caution Concerning Forward-Looking Statements

Investors are encouraged to review 'Risk Factors' as outlined in the Company's
disclosure documents and other regulatory filings, available 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.

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