Focused Investment in Copper and Gold

TSX-V: MUN | OTCQB: MUNMF | Frankfurt: NGU

August 2021

mundoro.com

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 StatementsMundoro Capital Inc.1040 West Georgia StreetVancouver, B.C., V6E 4H1

Exchange SymbolsTSX-V: MUNOTCQB: MUNMFFrankfurt: NGU

Websitewww.mundoro.com

Transfer AgentTMX Equity Transfer Services Inc.200 University Avenue, Suite 300Toronto, ON, M5H 4H1

AuditorsPriceWaterhouse CoopersChartered Professional AccountantsVancouver, BC, V7Y 1G6

TSXV:MUN

Partner Funded Exploration

Generating Cash from Portfolio for 5+ years

Guided by ESG & CSR principles for over 10 years

55% Institutional Shareholders on register

3

Why Mundoro & Why Now

Copper & Gold Focus in Historic Mining Camps

Strategic Land Packages in World Class Mineral

Districts

Growing

Opportunity for

New Royalty

Creation

TSXV:MUNPortfolio of Projects

Mexico Project

Maoling Gold Project (PFS)(CNG 75%; LBG 21%; MUN 4%)

Europe Projects(Serbia & Bulgaria)

4

TSXV:MUN

Copper and Gold Projects (by stage) in Each Belt

Andean Belt Chile/Peru

Western Tethyan Belt

Serbia/Bulgaria/Turkey %

Total Projects in 2010 >1100 ~174 16%

Exploration 900 139 15%

Development 100 18 18%

Production 181 21 12%

TSXV:MUN

01 02 03

Unique Business Model

5

Target Discovery

• District-Scale Land Packages

• Strategic locations

• Copper and gold focus

• Attractive for industry partners

Partners sole-fund

• Exploration programs

• Strategic alliances

Generate Cash

• NSR royalty

• Operator fees

• Option Fees

• Advance Royalty Payments

• Milestone Payments

• Direct Sale of assets

GENERATE PARTNER MONETIZE

TSXV:MUNUnique Business Model

6

Mundoro’s approach to mineral revenue generation is to be the catalyst for new Royalties

• Differentiation to generate new royalties

• Lower upfront capital required

• Requires low costbalance sheet capital

• Highly competitive to purchase existing royalties

Various Mining Partners:

+

PARTNER

NSR % + $$PROJECT

Purchase Royalty from Mining

Company

NSR%

Royalty Co

MUNDORO Royalty Co’s

TSXV:MUN

Mundoro Junior Peers Mundoro Junior Peers

Mundoro’s Unique Model at Work

7

Compared to Junior Peers, Mundoro has lowest G&A expenditures, 3x more meters drilled on the portfolio, and 2x more exploration expenditures on projects

> 9000m87x

G&

A e

xpe

nse

s as

% o

f To

tal e

xpe

nd

itu

res

(3 y

ear

s av

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ge)

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tio

n e

xpe

nd

itu

res(

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ear

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era

ge)

An

nu

al m

ete

rs d

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d (

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ear

s av

era

ge)

Ente

rpri

se v

alu

e /

Re

ven

ue

(3

ye

ars

ave

rage

)

EV/Revenue G&A % Exploration expenditures Meters Drilled

16 % 47 % $3,849 k $ 1,865 k < 3000m57x

TSXV:MUN

1

10

100

1000

$1

$10

$100

$1,000

$10,000

$100,000

$1,000,000

$10,000,000

SOURCE: COMPANY FINANCIAL REPORTS, MUNDORO, PRICING INFORMATION JUNLY 16ST , 2021

Industry Revenue Generation & Valuations3

YEA

R A

VER

AG

E R

EVEN

UE

(C$

TH

OU

SAN

DS)

Investors are giving high EV/R multiple to Juniors with the expectation for higher growth than Mid-Tiers or Seniors

8

Seniors → 15x EV/R Mid-Tier → 43x EV/R Juniors → 87x EV/R Average MCAP $5.4 Billion $165 Million $ 37 MillionAvg Annual Revenue (3-Year Avg) $311 Million $3.68 Million $389 K

Revenue Growth (3-Year) 22% 96 % 40%

Cash Flow (3-Year Avg) >$201 million Not generating Positive Cash Flow Not generating Positive Cash Flow

Dividends Regular Dividends Limited Dividends No Dividends

Large mines, expansions, select development royalties Development, small mines royalties Exploration royalties

EV/R

MU

LTIP

LE

Seniors

Mid-Tier

Juniors

TSXV:MUN

53%

4 %

43%53%

SharesOutstanding (Basic)

Warrants6 mln Dec-2021 @$0.20

9.6 mln Feb-2023 @$0.30

Our Shareholders

SHARE CAPITALBALANCE SHEET (CAD$, Q1 2021)

4.5MILLION

0$Cash & CashEquivalents Debt

9

RESEARCH AND ANALYST NOTESOWNERSHIP AND SIGNIFICANT SHAREHOLDERS

$ 100 Million

Options

9.2 Million 15.6 Million

Fully DilutedShares Outstanding

125 Million

May 2018 -Present: Veteran economic geologists and equity analysts Joe Mazumdar and Brent Cook

September 2019: Project Generator Industry Report

December 2016 to May 2018

Oct 2017: Mundoro Capital: Tackling the Tethyan

USA Institutional Funds

European Institutional Funds

Canadian Family Office

Company

Retail 43% Institutional 53%

D&O 4%

TSXV:MUNOur Team & Advisors

10

EXPLORATION

Richard Jemielita, PhD, QPChief Geologist, 40+ years in generative exploration

Yassen Krishchev, QP

Senior Exploration Manager25+ years Exploration at majors & juniors

Damyan HristovSenior Data Manager25+ years Data specialist for majors

Ivan VeljkovicProject Administration Manager, Serbia

Violeta BoyanovaMarketing & Project Administration Manager, Bulgaria

TECHNICAL ADVISORS CORPORATE

Richard Sillitoe, PhDPorphyry SystemsWidely recognized geology professional with more than 120 technical publications

Leigh Rankin, PhDStructural25+ years experience in structural geology and interpretation of geophysical data

Richard MooresGenerative30+ years in exploration worldwide specializing in porphyry-style deposits; Discovery of Copler, Former CEO of Anatolia

Alan RilesMetallurgy40+ experience as a mining professional and metallurgist;Former COO of Vale Inco Ltd

PWC – AuditorsCassels – Corporate Counsel

MANAGEMENT AND BOARD

Teo Dechev, MBA, P.Eng, ICD.DCEO, President, DirectorPreviously Investment Banking at CIBC, NBF, Desjardins, Equity Research at LOM

John HoeyNon-Executive Chairman, Governance and Nominating Committee Chair Retired Investment Banker, and Retired US State Department

Michael CalyniukIndependent DirectorAudit Committee Chair Retired PWC Audit Partner, Director on BDC of Canada

Nick HatchIndependent DirectorCompensation Committee ChairRetired Sell Side Equity Research Analyst

Christopher WongMBA, CPA, CMACFO & Corporate Secretary

TSXV:MUN

The World Needs Copper

TSXV:MUNGlobal Copper Supply

12

Copper supply continues to under pace demand, causing a global deficit in copper which leads to price increases

Sup

ply

De

man

d B

alan

ce (

00

0 t

)

Co

pp

er

Pri

ce (

$/l

b)

Source: S&P Global Market Intelligence; World Bank Data; International Copper Association, Mundoro

0.00

0.50

1.00

1.50

2.00

2.50

3.00

3.50

4.00

4.50

-600

-400

-200

0

200

400

600

800

1000

2015 2016 2017 2018 2019 2020 2021 2022F 2023F 2024F 2025F

Copper market moves into deficit

TSXV:MUN

China Rest of the world

Global Copper Demand

13

Copper demand is fueled both by traditional economic growth but also now the need in new green economy uses

Economic recovery drives up global refined copper demand 6.2% YOY in 2021

Ref

ine

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r co

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YOY

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Source: S&P Global Market Intelligence; World Bank Data; International Copper Association

0

200

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600

800

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1,600

1,800

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2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027

Car BEV Car HEV Car PHEV Ebus BEV

Kt

Cu

Electric vehicle Cu demand forecast

0%

1%

2%

3%

4%

5%

6%

7%

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2017 2018 2019 2020 2021 2022F 2023F 2024F 2025F

TSXV:MUN

$0

$500

$1,000

$1,500

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$2,500

$0

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Marco Picture for Copper and Gold Equities

14

Gold Equities - Enterprise Value/oz Copper Equities - Enterprise Value/lb

Despite strong commodity prices, equities still below historical valuations levels

Current $EV/lb of Cu producers ~$0.16/lbCurrent $EV/oz level of Au producers ~$170/oz

TSXV:MUN

Mineral Districts of Focus

TSXV:MUNEmerging Mineral Districts in Western Tethyan Belt TSXV:MUN

TSXV:MUN

17

Serbia: Timok Overview - World Class Mining District

Mines & Projects Company Status Tonnage Resource Grade

Majdanpek1

(Cu, Au)Zijin Copper Bor

Operating Open Pit Mine

637 Mt0.3% Cu, 0.27 g/t Au

Veliki KriveljMine1

(Cu, Au)Zijin Copper Bor

Operating Open Pit Mine

506 Mt0.37% Cu, 0.07 g/t Au

Bor Mine1

(Cu, Au)Zijin Copper Bor

Operating Mine

18.3 Mt0.8% Cu, 0.2 g/t Au

1,008 Mt0.53% Cu, 0.16 g/t Au

Cukaru Peki2

(Cu, Au)Zijin Copper Bor

Development Project

Upper: M+I 42.67 Mt

3% Cu, 1.91 g/t Au

Lower: Inf 1,663 Mt

0.86% Cu, 0.18 g/t Au

Timok Project3

(Au)

Dundee Precious Metals

PEA 46.9 Mt 1.32 g/t

> 100 Years of Mining & > 4 Billion tonnes of Porphyries

Majdanpek Mine

Cukaru Peki Project

BorMine

Veliki Krivelj Mine Timok Project

10 km

Vale-Mundoro Projects

JOGMEC – Mundoro Project

Available for option

Dundee Precious Metals

Zijin Mining

Mine & Deposit

Tethyan Belt outline

Sources: 1. The Mineral Resources of the Bor Metallogenic Zone: A Review; Jelenkovic et al; Geologia Croatica, 20162. Zijin Mining Annual Report for 2019 3. Technical Report 43 101 Dundee Precious Metals 2018

TSXV:MUNTimok: International Miners Active in Serbia M&A

18

MAR 2016

Partnership formed

announces sale of portion of Cukaru-Peki

September - December 2018

Acquires Nevsun

wins tender for RTB Bor Group

JAN 2011

initiates research and staking of land package in Timok

MAR 2012

announces first licenses in Serbia

SEP 2013

announces Tilva Rosh high-grade gold zone

JUN 2015

NOV 2015Starts to

explore in Timok

DEC 2014

announces Zeleznik Cu-Au porphyry discovery

APR 2016

Avala acquired by

MAY 2016 acquires

JUL 2018

Form partnership for explorationin Timok, Serbia

SEP 2012

announce Cukaru-Peki discovery drill holes

OCT 2019

Form partnership for exploration in Timok, Serbia

Freeport announces sale of lower zone to

NOV 2020

Expand partnership for two additional licenses in Timok, Serbia

TSXV:MUN

19

SOURCES:

1: GEOLOGY AND METALLOGENY OF THE PANAGYURISHTE ORE REGION, P. Popov et al., 20122: NI43-101 technical report, dd. 30th March 2020

3: Historical production mined. Also see Note 1 on next page

Bulgaria: Panagyurishte Overview – Mining District

Mines & Projects Company Status Tonnage Resource Grade

Elatsite Mine1

(Cu,Au)GeotechminGroup

Operating Open Pit Mine

154 Mt0.33% Cu, 0.17 g/t Au

ChelopechMine2

(Cu, Au)

DundeePrecious Metals

Operating Underground Mine

M+I: 14.2 Mt

Inf: 1.9 Mt

0.94 % Cu, 2.86 g/t Au

0.84 % Cu, 2.02 g/t Au

Medet Mine1

(Cu, Au)State Closed Mine 163 Mt

0.23% Cu, 0.10 g/t Au

Asarel Mine1

(Cu, Au)Asarel Medet

Operating Open Pit Mine

254 Mt0.41% Cu, 0.07% Au

Radka Mine3

(Cu, Au)

Mundoro(won tender in Q4-17, currently in Ministry process)

Closed MineHistorical Mined Production5

6.4Mt @ 1.06% Cu and3g/t Au

Medet

Chelopech

Assarel

Elatsite

Radka

Aurubis Pirdop Smelter

Mundoro

Dundee Precious Metals

Assarel Medet

Elatsite Med

Applications in process

10 km

TSXV:MUN

10 km

SOURCES:

1 “GOLD AND AURIFEROUS ORE GEORESOURCES AND PROCESSING TECHNOLOGIES IN BULGARIA ”, 2012, PROF. I.BALTOV ET AL.

2 “ORE PRODUCTION IN BULGARIA: 1878 - 1995”, 1996, V. MILEV ET AL.

3 NI43-101 REPORT, DD. 20 NOVEMBER 2020

4 NI43-101 REPORT, PRE-FEASIBILITY TECHNICAL REPORT, DD. 14 OCTOBER 2020

20

Mines & Projects Company Status Tonnage Resource Grade

Chala Mine1

(Au, Ag, Pb, Zn)Gorubso Kardzhali

Underground Mine

1.47 Mt9.80 g/t Au, 3.67 g/t Ag

MadjarovoMine2

(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

KumovgradMine3

(Au, Ag)

Dundee Precious Metals

Open PitMine

Proven and Probable Reserves: 4.26 Mt

Inf: 0.32 Mt

4.8 g/t Au, 3.02 g/t Ag

2.09 g/t Au, 1.51 g/t Ag

Rozino Deposit4 Velocity Minerals

PFSProbable

Reserves : 11.8 Mt

1.22 g/t Au

Chala

Madjarovo

Krumovgrad

Rozino

Mundoro

Dundee Precious Metals

Velocity Minerals

Other licenses

Applications in process

Bulgaria: Rhodopes Overview – Emerging District

TSXV:MUN

Highlights from Property Portfolio

TSXV:MUN

Location Status

Paymentsto MUN

Operator

Exploration Royalty Next Milestones Potential

Vale – Mundoro JV Projects

22

Target 1

SW of the main Zijin Bor

mining complex

2021 – Drilling and geophysical programs

Mundoro Operator Fees

+ Phase II Annual Payments

Vale sole-funds US$45 million in exploration

over 8 years

2 % NSR

Drilling the Tilva Mare target area;

Upgrade targeting at Markov Kamen east and Glavica

Copper & Gold Porphyry and related Epithermal

TSXV:MUN

Location Status

Paymentsto MUN

Operator

Exploration Royalty Next Milestones Potential

Vale – Mundoro Option projects

23

Target 1

15 km SW of the Zijin Bor

Mine Complex

Option for 100 % interest to Vale

Mundoro

US$200,000/yr+ Operator Fees

+ Milestone Payments+ ARP

Vale sole-funds C$2 million in

exploration over 2 years

2 % NSR

Diamond drilling at Tilva Rosh target, Follow up four identified

targetsCopper & Gold

Savinac Bacevica

TSXV:MUN

Location Status

Paymentsto MUN

Operator

Exploration Royalty Next Milestones Potential

Borsko: High Sulphidation/Porphyry Targets – Available for Option

24

Target 1

Adjacent to the producing Zijin Bor

mining complex

Mundoro 51%JOGMEC 49%

Mundoro Operator Fees

JOGMEC sole-funded US$5.8 mln

2 % NSRDrill test high-sulphidation and

porphyry targets

5 kmMundoro- Vale

Drill Holes

Borsko license

Bor mine complex

Veliki Krivelj Mine

Cukaru Peki DepositTarget 1

Skorusa porphyry

Cerovo Mine

Copper & Gold

TSXV:MUNZeleznik Copper & Gold Porphyry – Available for Option

25

Target 1

NextMilestones

North Timok1.5 km NW of

Majdanpek mineAvailable for Option

100% Mundoro ownership

Discovered porphyry related systems

(West Zoneand East Zone)

New copper and gold targets at the north

end of the license drill target ready;

Option to a partner;

Potential

Copper & Gold

Exploration

Location Status

Operator

Py Chpy in vuggy silica

Qtz Py Chpyvein

Qtz Py Chpyvein

Disseminated Chpy

West Zone Porphyry:B-veins 0.77% Cu and 0.17g/t Au

East Zone:Fine-grained sulphides in

carbonate 0.35% Cu and 0.63g/t Au

Central Zone and North ZoneNew discovered gold

mineralisation

MajdanpekOpen-pit

Mine

TSXV:MUN

NextMilestones

Potential Exploration

Location Status

Operator

GT7 Copper Prospect – Available for Option

26

Target 1

40 km SE of the Rudnik Pb-Zn-Ag

mining district

Available for Option

100% Mundoro ownership

Identified through Mundoro generative

program

Targets with indications of copper & gold for follow-up;Option to a partner;

Copper & Gold

Qtz-Chpy-Mo stockwork

Qtz-Chpy-Mo vein

Qtz-Chpy- Py - Mo B-type vein

Qtz-Chpy-Mo vein

5 km

TSXV:MUN

01 02 03

Investment Rational

27

▪ Well funded senior partners

▪ Diversified portfolio of projects

▪ Lowest G&A structure among peers

▪ Pipeline of mineral properties

▪ Exposure to copper and gold

▪ Potential for new discoveries

QUALITY UPSIDE OPPORTUNITY

▪ Trading at discount to Junior Peers

▪ Unique mineral revenue generator model

▪ Significantly undervalued with opportunity for re-rate

TSXV:MUN

ESG Practices

TSXV:MUN

29

“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

Our Approach to Responsible Mineral Development

TSXV:MUN

01 02 03

Our Approach to ESG

30

• Adhere to standards to protect wildlife and plant life in the surrounding habitat

• Restore landscape post exploration

• Work with drilling contractors to minimize emissions

• Work with independent certified labs

• Increase awareness of safe work practices

• Supporting healthcare initiatives in local regions

• Supporting education initiatives in local public schools

• Employing from local communities and training for technical skills

• Contributing to local community programs and charities focused on health or education

• Respect human rights in stakeholder engagement

• Committed to comprehensive disclosure & open communication with our stakeholders

• Join local organizations to advocate ESG principles for exploration sector

• Board of Directors and all staff follow Corporate Code of Conduct & Ethics which is regularly updated

• Committed to Diversity in our Workforce

Environmental GovernanceSocial

TSXV:MUN

01 02 03

31

Community & Culture HealthcareEducation

Our Approach to CSRPartnering with Local Communities to Support Cultural Activities, Education and HealthCare

Renovation of a medical center in Mineralni bani, Bulgaria

Donation of equipment to the hospitalBor, Serbia

Field visits, Technical Faculty Bor, Serbia

Donation equipment, Elementary school Sumrakovac, Serbia

Students internships, Sofia University & Mining University, Bulgaria

Playground donation, Bor, Serbia

Donation to folklore festival, Kucevo, Serbia

Donation to the Archeologycal Museum, Alexandrovo, Bulgaria

Awards won for Community Contribution, Bulgaria

TSXV:MUN

Jurisdictional Comparison of Mineral Laws

TSXV:MUNSerbia Bulgaria Finland Chile Mexico USA British Columbia,

Canada

Location Southeastern Europe Scandinavian Peninsula -Europe South America North America North America North America

Mining History

Dating back to the Middle Ages. Source of base and precious metals since Roman times

The mining in Finland dates back for hundreds of years

Dates back to the Incas in 1460. Recognized as the mining capital of Latin

America today

Mining-friendly history that spans almost 500 years

Mining-friendly history which dates back to

17th century

Mining friendly since the 1900s

Tax regime (Source: Source: World Bank national accounts data, OECD National Accounts data, NI43-101 reports, Company reports )

Corporate Tax 15% 10% 20% ~20% ~30% 6% ~28%

Royalties 5 % on metals produced in country

Negotiated royalty with government (0.8 – 2.5 %)

Excavation fee per property is €50 per hectare per year +

variable part of 0.15 per cent of the calculated value of

mining minerals

5 % to 14% Specific mining tax (SMT) based on production

7% EBITDA0.5% of sales for PM

Ad valorem (At least 2 % of market price for

copper and gold)

Profit based (12%) or ad valorem (2% of net

proceedings)

Tenure of Permits (Sources: S&P Market Intelligence, Company technical reports)

Process First-Come, First-Serve Public Gazette FCFS FCFS + Public Bulletin + Court FCFS + physical staking FCFS FCFS

Exploration 8 years (3+3+2) 7 years (3+2+2) 17 years (2+ 4 + 11) 4 years (2+2) Not applicable 6 years SL – No term limits for BLM No term limits

Exploitation Term based on mine plan Maximum 25 years Term based on mining plan No term limits 100 years (50 years + 50 years) No term limits No term limits

Exploration ($, 2019) >$10-50 million > $10 million >$50 million $137.6 million $215.2 million ~$600 million $206.5 million

Economy (Source: World Bank national accounts data, and OECD National Accounts data files. Last data 2019)

GDP (current US $) 51.5 billion 68.6 billion 269.3 billion 282 billion 1,268 billion 323.6 billion 253 billion

2019 GDP Growth 4.2% 3.7% 1.1% 1.1 % -0.1 % 3.1 % 1.9 %

Export / Imports (US $) 26 billion/ 31 billion 44 billion / 42 billion 108 billion / 107 billion 80 billion / 81 billion 493 billion / 437 billion 25 billion / 27 billion 31 billion / 41 billion

Debt (US $ 2019) 36 billion 41 billion 151 billion 70 billion 470 billion 44 billion 50 billion

Deficit(% of GDP 2019) 1.7 % 1.4 % 6.84 % 8.71 % 5.8 % 5.7 % 1.6 %

Population ~7 million ~7 million ~5.5 million ~18 million ~129 million ~7 million ~5 million

Europe Compares Well to North & South America

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TSXV:MUN

Appendix – Maps Exploration Targets

TSXV:MUN

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Vale JV Projects – Skorusa & Oblez Targets

Skorusa WestZone

Skorusa East Zone

21-SKO-01

Skorusa South Target Advanced argillic alteration (lithocap)

21-SKO-02

21-SKO-03

21-SKO-04

21-SKO-05

21-SKO-06

A

A

Skorusa South TargetSouthern extension of the magnetic low anomaly and advanced argillic alteration

Tilva Mare TargetGeophysics program lines

Markov Kamen East TargetAnomalous molybdenum over the cover rock

Glavica TargetStrong magnetic anomaly with remnant magnetism

TSXV:MUN

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Vale JV Projects – Skorusa Porphyry Target TSXV:MUN

East Zone Drill hole 21-SKO-05 at 353.9-354.2m -Anhydrite-Chalcopyrite-Pyrite-Sphalerite-Galena (base metal) veins dipping to the west

West Zone - Drill hole 21-SKO-04 at 381m Quartz-Molybdenite-Chalcopyrite veins in potassic altered diorite porphyry

1.5km of phyllic alteration between the West and the East Zone remains untested

West Zone East ZoneWNW ESE

Base-metal veins dipping 60 to the west towards West Zone

TSXV:MUN

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GT7 Project TSXV:MUN

Two discrete Cu-Au-Mo in soil anomalies (North and South zones)

Gold correlates with Cu, Zn, Pb, As, and Sb, characteristic of porphyry-related mineralisation.

GT7 North zone Quartz “b” veins with central suture of magnetite and chalcopyrite typically forming stockworks in porphyry copper-gold deposits.

North zone

South zone

GT7 South zone Quartz vein with central suture composed of magnetite and chalcopyrite with molybdenite grains located on the margins.

Current mapping area.

Legend

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August 2021

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