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Re:   News Releases - Monday, November 10, 2008
      Mundoro Q3 2008 Financial Results
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November 10, 2008, Mundoro Capital Inc. (the "Company") announces the
financial results for the quarter ended September 30, 2008. This press
release should be read in conjunction with the Company's interim
financial statements and Management Discussion and Analysis, which are
available on the Company's website (www.mundoro.com) and SEDAR
(www.sedar.com).  All dollar amounts are in U.S. dollars unless
otherwise stated.

Financial Highlights
.. The Company's consolidated and comprehensive income for the quarter
was $2,470,237 or $0.06 per share compared with a net loss of $889,964
or $0.02 per share for the previous period's quarter.
.. The corporate expenses during this quarter are the lowest in eight
quarters primarily due to management's continued efforts to conserve
cash.
.. The net income in the quarter is attributable to:
I. expending $106,600 on Engineering and Exploration;
II. expending $370,363 on corporate expenses;
III. recovering $2,858,953 on other non-cash accounting items; and
IV. earning interest income of $88,247.
.. The Company ended the quarter with $15,793,789 in cash which equates
to $0.41 per share with no long term debt.

Company Highlights
Overview

For the third quarter of 2008, the Company focused on three areas: (i)
continuing the corporate development activity for Mundoro Mining Inc.
("MMI"), (ii) continuing the community relations activity on site at
Maoling and the surrounding county, and (iii) evaluating investment
opportunities in the resource sector for Mundoro Capital. 

For Mundoro Mining, the focus over the quarter has been to engage in
activity that will lead to the business license renewal of the joint
venture company in China with one of such efforts being the strategic
engagement with ALG Consultants ("ALG") whose main focus is the
restoration of the business license.  ALG serves alongside Mundoro in
an advisory role and will leverage its knowledge of the cultural,
socio-economic, government and business environment in China.  Mundoro
is committed to the development process for Maoling and attaining a
return for shareholders on their investment in Maoling to date.

At the same time, the focus for Mundoro Capital has been to maintain a
strong balance sheet such that the Company's cash position will sustain
the development process of Maoling while maintaining the flexibility to
invest in new resource assets or companies that can immediately add
value to the Company and refrain from returning to the market to raise
additional capital during difficult financial markets. The majority of
the feasibility study and much of the Environmental Social Impact
Assessment work for Maoling has been completed and as such, completion
of these two studies will not require the Company to go to the market
for capital as the Company's current cash position exceeds the capital
needed for completion of these studies.

Cash Management and Share Repurchase Program

Beginning in 2007, management exercised fiscal responsibility by
implementing strict cash management procedures to ensure only necessary
corporate activities required the use of funds.  This foresight has
lead to a strong financial position in the wake of the current global
economic conditions and has allowed the company to continue operations
with a minimal cash burn rate. 

The Company believes purchasing its Common Shares enhances shareholder
value but is carefully monitoring its Normal Course Issuer Bid Program
("NCIB") in order to not adversely affect Mundoro's other growth
opportunities and preserve its cash.  During the three months ended
September 30, 2008, the Company bought back 152,690 common shares on
the Toronto Stock Exchange ("TSX") at an average price of $0.33
(C$0.40) per share, and subsequent to the end of the quarter, the
Company bought an additional 123,070 common shares on the TSX at an
average price of $0.23 (C$0.28) per share, for cancellation.  The
average purchase price for these shares was far below the Company's
cash per share position. 

Community Relations Program

Mundoro's community relations program has been well-received by the
local residents for its successful development of local infrastructure
and economic advancement including local medical service improvements,
as well as assistance in scholastic and educational development.  With
the full support of the Gaizhou County government, the Company
implemented a plan to spend RMB 1.2 million over a three year period to
fund educational, health and sanitation development in Gaizhou County.
This quarter, the Company provided funds for the upgrade of the
Kuangdonggou Medical Clinic to fully integrate the clinic's recent
purchase of an X-Ray machine.  It is expected the upgrades will be
completed by the end of the year and the X-Ray machine to be fully
operational and in use by medical staff at that time.

Outlook

The current global financial crisis has caused flow of funds out of
speculative mineral exploration stocks.  The outflow of capital has
been led by institutional funds needing to meet redemption obligations.
 This has lead to drastically reduced equity prices in the resource
sector, particularly in the junior exploration/pre-development
companies. The current market conditions continue to affect prices and
volatility.  Those companies needing to raise capital in the near term
to meet capital expenditure requirements for project construction have
been hardest hit as debt lending and equity financing has decreased
substantially.

Those companies with cash and that demonstrate the ability to preserve
cash for the next 24 months should be rewarded by the markets.  The
Company tracks the valuation of many resource equities to determine
market value per resource ounce for various stage assets.  Valuations
have not been this low since 1999 and 2000 when junior gold explorers
were trading at less than $20 per resource ounce while the gold price
was in the range of $255 to $300 per ounce.  In today's market, there
are junior gold exploration companies with assets in the feasibility
stage that are trading in the range of $10 to $15 per resource ounce
but the difference is that gold is trading in the range of $750 to $800
per ounce.  The fundamentals in the gold market are stronger today and
those companies that can demonstrate solid project fundamentals and
cash to maintain those assets should be rewarded by the markets post
the financial crisis. 

The currently restricted financing environment is presenting Mundoro
Capital with investment opportunities at low valuations for producing
and near producing gold assets in the face of strong prices for
physical gold.  The Company believes there is an opportunity to invest
in gold projects, carefully selected for quality, to achieve a sound
long term investment that has potential for significant appreciation in
value.  Mundoro Capital is looking to employ its financial strength and
technical expertise either in conjunction with others or as the
principal investor for resource assets or companies.  The Company will
continue to monitor carefully value driven opportunities and weight
these opportunities against the necessity to preserve capital during
the global financial crisis.

The long delay in renewing the business license of Tianli has weighed
heavily on the Company's valuation in the public markets; however the
Company continues to believe the strategy undertaken of engagement and
building awareness with a wide range of government agencies and Chinese
enterprises in China and in Canada in order to resolve the issue, will
provide a positive outcome. 

The Company believes it has the opportunity, particularly in the
current climate of low valuations for assets and companies in the
resources sector, to identify and invest in new resource assets in an
effort to create new value for shareholders.


For further information, please contact:

Robert van Doorn
Chief Executive Officer & Chairman
604-630-3593

Teo Dechev
President & Director
604-630-3591

Ben Chow
Investor Relations Manager
604-630-3587

About Mundoro Capital Inc.

Mundoro Capital Inc. is a Canadian based company which operates as a
mineral exploration, development and investment company.  The ownership
of Mundoro Mining, and its Maoling Gold Project, remains a key asset of
Mundoro Capital and the Company will continue to develop the Maoling
Gold Project.  Mundoro Capital will also evaluate and invest in
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 and structuring unique transactions for
investments in the resource sector.

About Mundoro Mining Inc.

Mundoro MIning is a resource company focused on the exploration and
development of one of the world's top gold deposits, the Maoling Gold
Project.  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% interest.  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.
Mundoro Mining has outlined a Reserve of 2.8 million ounces in the
Probable category which 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. Mundoro Mining and its partner,
Liaoning Aidi Resources Company Limited, have undertaken a strategy of
engagement and building awareness with a wide range of government
agencies in order to resolve the issue.

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.
The TSX has neither approved nor disapproved of the information
contained herein.

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Copyright (c) 2008 MUNDORO CAPITAL INC. (TSX-V:MUN)  All rights
reserved.  For more information visit our website at
http://www.mundoro.com/ or send mailto:info@mundoro.com
Message sent on Mon Nov 10, 2008 at 6:51:50 AM Pacific Time
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