Madoro Consolidates Quebec's Emerging Decelles Lithium Camp with the Proposed Takeover of Australian Privately Owned Narrow River Resources

The latest announcement on February 2, 2026, details a proposed Reverse Takeover (RTO) where Madoro Metals Corp. (MDM) will acquire the assets of Narrow River Resources Pty Ltd (NRR), an Australian private company. The deal focuses on consolidating exploration claims in the Decelles lithium camp in Quebec. Madoro will issue 95 million common shares to NRR—effectively doubling its current share count—and grant a 2% Net Smelter Return (NSR) royalty. The transaction is contingent on a "Concurrent Financing," a satisfactory NI 43-101 technical report, and regulatory/shareholder approvals. Trading has been halted by CIRO pending this material news.

The impact is material and transformative for MDM, moving it from a dormant junior with limited assets to a primary landholder in an emerging lithium district. - Dilution: The issuance of 95M shares against an existing base of ~91M represents over 100% dilution to existing shareholders before the mandatory concurrent financing is even calculated. - Control Shift: This is a reverse takeover; the resulting issuer's board will be reconstituted, with NRR holding significant influence (minimum two board seats) and likely a majority share position. - Risk Profile: While "Material - Positive" due to the strategic acquisition of a large land package in a hot jurisdiction (Quebec Lithium), the company is essentially starting over. Success depends entirely on the results of the upcoming NI 43-101 report and the ability to raise capital in a volatile lithium market.

Madoro Metals Corp. is a junior explorer that has recently pivoted to Quebec lithium. - Flagship Project: The consolidated "Decelles Region Properties," which combines Madoro's First Green Lithium property with the newly acquired NRR assets. - Location: Decelles lithium camp, Quebec, Canada. - Stage: Early-stage exploration. An airborne magnetic survey was initiated in late January 2026. - Legacy Assets: Cerro Minas (Mexico, Gold/Silver) which remains under option, though the Ralleau project (Quebec) was written off in May 2025.