American Pressel was in charge of their last-four match when she was penalised for slow play after the 12th hole.
Both Munoz and Pressel were warned for slow play after nine holes before being put on the clock after the 11th. It was Pressel who was penalised, being docked a hole having taken two minutes and nine seconds - 39 seconds over the 30-second per shot limit - in claiming the 12th, which would have put her 3-up.
"It was tough timing because it was a really big, I think, turning point in the match, going from 2-up to 3-up, and then all of a sudden back to 1-up," said Pressel, who went on to beat Vicky Hurst 2&1 in the third-place match.
"You know, it was - I mean, it was really unfortunate.
"I think that slow play is one of our biggest problems on tour. You know, I think that what bothers me the most is that we were given sufficient warning and she really didn't do anything to speed up and then I was penalised for it."
Pressel has never before been penalised for slow play in seven years on the Tour and was a touch unlucky that Munoz was not sanctioned as well.
"I know I was slow and I really apologised for that and I told her, but I do feel both of us were slow and she was the only one getting penalised, and that was not fair and I know that," Munoz said. "I would never make her lose a hole.
"You know, I didn't do anything wrong. She lost the hole because she was slow, I wasn't. I was slow before, but not when the clock was on and that's when you can't be slow."
Pressel’s penalty left Munoz only two shots behind with six holes remaining - and the drama did not end there.
The Spaniard levelled the match with a birdie at the 15th only for Pressel to argue that her opponent touched the line of her putt before striking the ball.
The incident was reviewed on videotape by two committee officials who could not see any evidence of rule breaking and Munoz made the putt.
From there the clearly-rattled Pressel bogeyed the next two holes, including missing a three-foot putt on the 17th, to lose the match.
Munoz then went on to beat Kung, who defeated Hurst 2&1 in her semi-final, in a comparatively straightforward match in the afternoon.
The Spaniard took the lead after the turn, Kung running into trouble on the 11th and 12th holes, and never looked back as she went on to lift the trophy.