Centerra Gold Takes 9.9% Stake in Mundoro as BHP Drops Central Timok Option and Advances Two Serbia Projects

Mundoro Capital Inc. announced two simultaneous developments on November 6, 2026 that reshape its portfolio in Serbia's Timok Magmatic Complex. Centerra Gold Inc. agreed to make a strategic equity investment in Mundoro through a private placement, with Centerra holding 9.9% of Mundoro's issued and outstanding common shares on closing. The subscription agreement and investor rights agreement between the two companies are dated November 5, 2026.

Separately, Mundoro reported its 2026 exploration results for the Timok region and disclosed a split outcome in its option arrangements with BHP. BHP will continue its earn-in options on the Trstenik and South Timok projects, but has relinquished its option on the Central Timok and Borsko properties. That relinquishment returns 100% ownership of those two property areas to Mundoro, which the company says now has five drill-ready porphyry targets across its regained ground. The 2026 BHP-funded exploration program included drilling across four targets on the properties where BHP remains active.