Mundoro funded exploration costs for generative programs totaled $136,916.Corporate expenses totaled $98,839, versus $120,346 in 2019.At March 31, 2020, Mundoro had a treasury position of $3.1 million and no debt.During ongoing global impacts to commerce as a result of the COVID 19 health pandemic, the board of directors and management considers it prudent for the Company to take steps to reduce non essential expenditure pending a return to normal business conditions. The initiatives below are expected to result in cash preservation for 2020 whilst they are in effect:Capital expenditures that are not essential to support ongoing exploration programs have been reduced or deferred, andCorporate and marketing expenditures have been reduced.Summary of Completed Drill Programs in Q1 2020Savinac and Bacevica, Timok, Serbia (Available for Option)In Q1 2020, Mundoro completed the target testing drill program at the Savinac and Bacevica exploration licenses in the Timok Magmatic Complex (“Timok”) in eastern Serbia. The two licenses are located within the southern portion of Timok, one of the most prolific metallogenic domains in the Tethyan Belt with deposits such as the Cukaru Peki, the Bor copper porphyry underground mine and the Veliki Krivelj copper gold porphyry open pit mine (Figure 1 and 2)..

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