Mr. Michael Mulberry reports

MEDARO MINING COMPLETES 2023 EXPLORATION WORK WITH CYR SOUTH DRILL PROGRAM CORE LOGGING AND SAMPLING AT THE DARLIN LITHIUM PROPERTY IN QUEBEC

Medaro Mining Corp. has successfully completed its 2023 exploration work at the 100-per-cent-owned CYR South and Darlin lithium properties located in Quebec, Canada.

The exploration program included 11 drill holes at CYR and prospecting, mapping and sampling at two claim blocks on the Darlin property. The focus of the current work program at Darlin was the extension of the 2022 soil grid to the east and north in the northern claim block and the implementation of a systematic prospecting and geological mapping program in the southern claim block.

CYR South core logging update

Further to the company's news release dated Sept. 28, 2023, regarding completion of 11 drill holes program at the CYR South lithium property in James Bay, Quebec, the drill core was moved to a core logging and sampling facility located in St-Dominique du Rosaire village, approximately 540 kilometres from the property for logging and sampling. The drill core samples collected underwent initial field testing in the core shack with a hand-held laser-induced breakdown spectroscopy (LIBS) instrument before selected core samples being submitted to an independent laboratory for assaying. LIBS is a rapid, portable, in situ atomic spectroscopy technique used to measure the concentration of major and trace elements, including lithium. While assay results are pending, preliminary LIBS testing for drill holes is highlighted below:

• Drill hole CYRS-23-01: Several intersections show anomalous lithium values in the range of 100 parts per million (ppm) to 7,572 ppm;
• Drill hole CYRS-23-04: Several intersections show anomalous lithium values in the range of 100 ppm to 6,615 ppm.

Darlin program highlights:

• The soil samples geochemical survey map reveals a substantial lithium anomalous area covering approximately 200 m by 500 m in the eastern part of the grid, with a smaller trend in the western part. Isolated anomalous spots of lithium have also been identified, prompting further investigation.
• The correlation between rubidium trends and lithium anomalies is evident, adding an additional layer of significance. Furthermore, a niobium and tantalum anomalous zone was identified in the southwest of the grid.
• In the Darlin South block, the work program was enhanced to include a systematic prospecting, geological mapping and sampling initiative covering the entire claim block. A total of 93 rock samples were collected during this phase.
• Numerous pegmatite outcrops were discovered and sampled, showcasing the potential for further exploration. Additionally, preliminary indications of Holmquistite, a lithium amphibole mineral, have been noted, warranting further in-depth study.

Michael Mulberry, chief executive officer of Medaro, stated: "A milestone development in our expansion into the prolific Quebec Lithium Triangle in the James Bay area, with the completion of our CYR South drill program. The exciting primary indicators certainly increase the anticipation of the lab results of core samples to come. Also, we are thrilled with the results of our latest exploration efforts at the Darlin lithium property. The broad lithium anomalous areas and the correlation with other critical elements such as rubidium are extremely promising. Our team's commitment to systematic and thorough exploration has not only expanded our understanding of the property's potential but has also unearthed exciting prospects for future development. We look forward to advancing our exploration activities and unlocking the full value of the Darlin lithium property."

Medaro Mining remains dedicated to the responsible and sustainable development of its mineral assets, contributing to the growth of the mining sector in Canada.

All samples from this program were bagged and tagged using best practices and were delivered to Activation Laboratories, Ancaster, Ont., for sample preparation and analyses using laboratories code Ultratrace 7.

Qualified person

Afzaal Pirzada, PGeo, a qualified person for the purposes of National Instrument 43-101 -- Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Medaro Mining Corp.

The company is a lithium exploration company based in Vancouver, B.C., and holds options over the Superb Lake lithium property located in Thunder Bay, Ont.; Darlin, Rapide, Pontax and the CYR South lithium properties in Quebec; and the Yurichson uranium property in the Athabasca basin, Saskatchewan. The company is a party to a joint venture agreement that engages the company in the development and commercialization of a new process to extract lithium from spodumene concentrate.

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