Mr. Michael Mulberry reports

MEDARO MINING PROVIDES AN UPDATE ON ITS CYR SOUTH DISCOVERY IN JAMES BAY, QUEBEC

Medaro Mining Corp. has released the results of its latest diamond drilling endeavour at the CYR South lithium property, located in James Bay, Quebec, Canada. The Company's exploration has revealed excellent intersections of lithium within the drill holes.

Partnering with Forage Pelletier Drilling ("FPD") of Chapais, Quebec, the Company's comprehensive program encompassed eleven NQ size drill holes, spanning 1,745 metres of diamond drilling. Leveraging state-of-the-art technology, including handheld laser-induced breakdown spectroscopy ("LIBS") instruments and laboratory analysis conducted at Activation Laboratories ("ACTLABS") in Ancaster, Ontario, the Company's findings have identified several highly prospective pegmatite intersections.

Medaro's strategic selection of drill hole locations, informed by extensive groundwork conducted in 2022, underscores the Company's commitment to precision and data-driven exploration. By strategically situating four drill holes near satellite imaging targets (SIT), the Company attempted to maximize such holes' potential for success.

Michael Mulberry, CEO of Medaro, expressed his enthusiasm, stating, "We are delighted with the outcomes from our drilling program at the CYR South property. The anomalous intersections of lithium present exciting opportunities for further exploration and we are excited to expand on these results with plans for additional exploration in 2024."

Highlights:

• Drill Hole CYR23-01 - Field scanning with LIBS for the drill hole core samples indicated lithium (Li) values in the range of 40.6 parts per million (ppm) to 2,202.1 ppm. The laboratory assays indicated several intercepts with over 100 ppm Li with one 3-metre-wide section indicating average 244 ppm Li.
• Drill Hole CYR23-02 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 23.6 ppm to 383 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-03 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 27.6 ppm to 472.5 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-04 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 42.1 ppm to 6,615.1 ppm. The laboratory assays of selected intervals showed low Li values (less than 100 ppm).
• Drill Hole CYR23-05 intersected a 46-metre-wide zone with average 150 ppm Li at 18 metres drilled depth, including a 2-metre-wide zone of 278 ppm Li, and a 3-metre-wide zone of 460 ppm Li at 49 m drilled depth. Field scanning with LIBS was not done on this drill hole due to non-availability of the instrument.
• Drill Hole CYR23-06 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 15 ppm to 776.1 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-07 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 44.1 ppm to 491.6 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-08 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 33.7 ppm to 335 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-09 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 49.8 ppm to 531.6 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-10 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 58.2 ppm to 603.3 ppm. Samples were not sent to the lab due to low LIBS values and/or no visible spodumene mineralization.
• Drill Hole CYR23-11 - Field scanning with LIBS for the drill hole core samples indicated Li values in the range of 63.1 ppm to 512.7 ppm. The laboratory assays indicated several intercepts with over 100 ppm Li.

About Core Logging and Sampling

Quality control and quality assurance (QC/QA) measures were implemented during the exploration process. FPD set up a temporary core storage and preliminary core logging site at the Camp 381 location, which was the base camp for the drill program. After preliminary logging, all core was transported for detailed logging to a core shack located in St-Dominique du Rosaire village, located approximately 400 km to the south of the Property. Field duplicates, standards, and blanks were regularly incorporated at industry-standard intervals to ensure the accuracy and reliability of results. The collected samples were packed and delivered to ACTLABS, an independent and ISO Certified Laboratory, for analysis using laboratory code Ultratrace 7 and sodium peroxide fusion (Na2O2).

Qualified Person

Afzaal Pirzada, P.Geo., a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.

On Behalf of the Board of DirectorsMichael R. MulberryCEO & Director

About the CompanyThe Company is an exploration company based in Vancouver, BC. The Company owns the Superb Lake lithium property located in Thunder Bay, Ontario and holds options over the Darlin, Rapide and CYR South lithium properties in Quebec and the Yurchison uranium property in the Athabasca basin, Saskatchewan. The Company is also 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.

We seek Safe Harbor.