Medaro Mining Announces High-Grade Copper and Gold Assay Results from Sampling Program at the Bastnas Project in Sweden

Most Recent Release (May 28, 2026)

• Medaro Mining Corp. announced high-grade copper and gold assay results from rock chip sampling at the Bastnäs Project in Sweden.
• First 97 samples assayed show significant mineralization: Gold up to 11.3 g/t Au (Area G), Copper exceeding 10% Cu (Persgruvan/Haggruvan).
• Rare Earth Element (REE) potential identified with >10,000 ppm Cerium at Area G and elevated Yttrium values in Fe-Ca skarn host rocks.
• A high-resolution drone magnetic survey is underway; field work continues to expand sampling to 250 samples total.
• Permits Bastnäs 100 (269ha) and Bastnäs 200 (867ha) are held by McKnight Resources AB ("MRAB") pending transfer to Medaro upon regulatory approval from the Inspectorate of Strategic Products (ISP).

Historical Context Review

• May 13, 2026: Signed LOI to acquire Sala Silver-Zinc Project (Sweden), rated Material - Positive.
• April 28, 2026: Acquired Bäckegruvan nr 1 Property in Sweden for $50k cash + shares.
• February 27, 2026: Closed private placement raising ~$976k to fund exploration on Sweden and Ontario properties.
• October 10, 2025: Terminated proposed RTO with Omega Gold Corp., rated Material - Negative.

Evaluation of News Impact

• The assay results confirm the geological potential of the Bastnäs project following the staking in January and permit acquisition in March.
• Grades reported (>10% Cu, 11.3 g/t Au) are high for rock chip sampling but require drilling to verify continuity and bulk tonnage.
• The news is consistent with the exploration program announced in February (financing) and March (permitting).
• Risk Factor: Permits remain pending transfer from MRAB to Medaro; regulatory approval is not guaranteed.
• Risk Factor: Rock chip sampling can be biased towards high-grade surface material compared to bulk drilling results.

Comparison to Expectations

• The exploration program was publicly planned in March 2026; results are expected within the timeline of the field work (June 2026).
• Therefore, this is an incremental update rather than a surprise discovery that fundamentally alters the company's valuation thesis immediately.
• Compared to the May 13 LOI (Material - Positive), this news supports the asset base but does not represent a new strategic acquisition or resource definition.

Corporate Profile

• Medaro Mining Corp. is a junior exploration company focused on critical minerals (REE, Copper, Gold) in Sweden and Ontario, Canada.
• Flagship Project: Bastnäs Project (Sweden). Multi-metal skarn/IOCG potential with REE overprint.
• Secondary Projects: Clay-Howells West (Ontario - REE), Sala Silver-Zinc (Sweden - LOI), Bäckegruvan nr 1 (Sweden - IOCG/Copper).

Development Status

• Bastnäs: Permits held by MRAB pending transfer; exploration sampling underway.
• Clay-Howells: Desktop study completed; Phase 1 field work planned for May/June 2026.
• Sala: LOI signed, definitive agreement targeted for end of May 2026.