Medaro Mining Announces Agreement to Acquire Backegruvan nr 1 Property

• Latest Event: On April 28, 2026, Medaro Mining announced an agreement to acquire a 100% interest in the Bäckegruvan nr 1 exploration permit in Sweden.
• Transaction Value: Consideration is $50,000 cash plus $150,000 in common shares issued upon closing (Total ~$200,000).
• Property Details: Located in the Riddarhyttan Iron oxide copper-gold district. Historic production includes 15Mt iron ore and 6.5kt copper metal. Potential for REE, cobalt, gold, and massive sulfide lenses.
• Royalty Terms: Vendor retains a Net Smelter Returns (NSR) royalty of 1.5% on certain portions and 0.5% on others. Company has an option to repurchase 2/3 of the 1.5% NSR for $1,000,000 prior to commercial production.
• Historical Context: This follows a series of Sweden-focused announcements from January to March 2026, including staking (~1,130 ha), permit granting (Bastnäs project), and exploration commencement.
• Previous Activity: A digital marketing extension agreement was signed on April 20, 2026 ($150k CAD). Phase 1 exploration at Clay Howells West (Ontario) was announced in early April.

• Asset Consolidation: The acquisition consolidates Medaro's footprint within the Riddarhyttan district, complementing the Bastnäs permits granted in March 2026. This validates management's stated strategy to build a critical minerals portfolio in Sweden.
• Financial Impact: The cost ($200k) is immaterial relative to recent financing rounds (e.g., $976k raised in Feb 2026). It does not significantly alter the company's liquidity position or cash burn rate.
• Risk Profile: While positive for asset base, the property carries royalty obligations and potential future buyout costs ($1M option). The news confirms execution of the Sweden thesis but does not provide new resource estimates or drilling results to de-risk the project immediately.
• Market Expectation: Given the aggressive staking and permitting activity earlier in 2026, this acquisition is largely expected by investors tracking the company's expansion strategy. It is incremental rather than transformative.
• Comparison to History: This contrasts with the October 2025 termination of a Reverse Takeover (RTO) with Omega Gold, which was rated Material - Negative. The current news shows a pivot back to organic growth and asset accumulation rather than M&A consolidation via RTO.

• Flagship Projects:
  1. Bastnäs Project (Sweden): ~1,130 ha permits granted March 2026. Targeting REE, copper, cobalt, gold. Exploration commenced March 2026.
  2. Clay Howells West (Ontario): Phase 1 exploration program announced April 2026. Focus on Rare Earth Elements (REE) within an alkalic intrusive/carbonatite complex.
  3. Bäckegruvan nr 1 (Sweden): Newly acquired permit (April 2026). Part of the Riddarhyttan district expansion.
• Development Stage: Early Exploration / Staking. No defined resources reported in recent news; reliance on historic production data and geological mapping.