Medaro Mining receives Bastnas exploration permits

Executive Summary

• Medaro Mining Corp. has been granted exploration permits for its Bastnas asset in Sweden, covering approximately 1,130.28 hectares across two permit areas (Bastnas 100 and Bastnas 200).
• The permits, issued by the Swedish Mining Inspectorate, are valid for three years until February 2029 and grant exclusive rights to investigate concession minerals including gold, silver, copper, lead, zinc, cobalt, scandium, yttrium, lanthanum, and lanthanides.
• The company intends to use these permits to proceed with detailed planning for future exploration activities, following the recent closing of a non-brokered private placement.

Key Details

• Permit Areas: Bastnas 100 (approx. 263.68 hectares) and Bastnas 200 (approx. 866.60 hectares).
• Total Area: Approximately 1,130.28 hectares.
• Issuing Authority: Bergmastaren at Bergsstaten (Swedish Mining Inspectorate) under Sweden's Minerals Act (1991:45).
• Validity: Three-year term, expiring February 2029.
• Target Minerals: Gold, silver, copper, lead, zinc, cobalt, scandium, yttrium, lanthanum, and lanthanides.
• Strategic Context: The permitting update follows the closing of a non-brokered private placement for aggregate gross proceeds of $976,100 (referenced from a Feb. 27, 2026 release).
• Next Steps: The company will proceed with detailed planning for future exploration activities, subject to regulatory, seasonal, and logistical considerations.

Notable Quotes

• "With the permits now in place and further to the company's closing of its non-brokered private placement for aggregate gross proceeds of $976,100... the company will proceed with detailed planning for future exploration activities as regulatory, seasonal and logistical considerations allow. The company will provide further updates on the project as exploration plans are finalized." — Mark Ireton, Chief Executive Officer