Medaro Mining to conduct exploration program at Bastnas

Executive Summary

• Medaro Mining Corp. has announced a new geological exploration program at its Bastnäs project in Sweden, focusing on rare-earth elements (REE), copper, cobalt, gold, and base metals.
• The company has entered into an exploration services agreement with McKnight Resources AB to execute the program, with field activities scheduled to commence on or about March 20, 2026.
• The program aims to advance understanding of the project's mineral potential through systematic fieldwork, including geological mapping, sampling, and geophysical surveying, to refine and prioritize targets for future work.

Key Details

• Service Agreement: Medaro entered into an agreement with McKnight Resources AB for exploration services.
• Start Date: Field activities are expected to commence on or about March 20, 2026, subject to local conditions and logistics.
• Scope of Work:
  • Reconnaissance and detailed geological mapping (focusing on lithological contacts, alteration, structural controls, and historical workings).
  • Targeted sampling of historic mine waste/dump material and accessible outcrops to evaluate geochemical signatures and REE enrichment.
  • Prospecting and follow-up rock sampling, including soil/till sampling to expand target areas.
  • Ground geophysical surveys (magnetic and gravity data acquisition) to delineate structures and prospective zones.
  • Laboratory analysis at accredited facilities and compilation of results into a consolidated dataset.
  • Integrated interpretation and reporting to support target ranking.
• Project Location & Permits:
  • The project comprises two exploration permit areas: Bastnäs 100 (approx. 263.68 hectares) and Bastnäs 200 (approx. 866.60 hectares).
  • Combined area: approximately 1,130.28 hectares.
  • Permits issued by Bergmastaren at Bergsstaten (Swedish Mining Inspectorate) under Sweden's Minerals Act (1991:45).
  • Permit validity: Three-year term expiring in February 2029.
  • Concession minerals include: gold, silver, copper, lead, zinc, cobalt, scandium, yttrium, lanthanum, and lanthanides.
• Geological Context:
  • Located in the Riddarhyttan-Bastnäs district, an established mineral region with historical mining.
  • Prospective for IOCG, VMS/massive sulphide, and Bastnäs-type skarn-hosted magnetite-REE mineralization.
  • Historical context includes a 2019 drill program by previous operators totaling 5,568 metres in 15 drill holes (not verified by Medaro).
• Qualified Person: Amanda Scott, PGeo, FAusIMM, has reviewed and approved the scientific and technical information.

Notable Quotes

• No direct quotes from management were included in the provided text.