Mr. Mark Ireton reports

MEDARO ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Further to the news release dated Jan. 27, 2026, Medaro Mining Corp. has closed its non-brokered private placement for aggregate gross proceeds of $976,100.18.

The private placement consisted of two parts:

• 2,387,000 non-flow-through units at a price of 30 cents per unit; each NFT unit consists of one common share in the capital of the company and one common share purchase warrant, exercisable at a price of 45 cents to acquire one common share for a period of 36 months from the date of issuance; and
• 684,211 flow-through units at a price of 38 cents per unit; each FT unit consists of one common share in the capital of the company, issued on a flow-through basis pursuant to the Income Tax Act (Canada), and one common share purchase warrant, exercisable at a price of 55 cents to acquire one common share for a period of 36 months from the date of issuance.

In connection with the private placement, the company paid aggregate cash finders' fees of $68,327.01 and issued an aggregate of: (i) 167,090 non-transferable non-flow-through finders' warrants, exercisable at a price of 45 cents to acquire one common share for a period of 36 months from the date of issuance; and (ii) 47,894 flow-through finders' warrants, exercisable at a price of 55 cents to acquire one common share for a period of 36 months from the date of issuance.

The company previously announced that the common share purchase warrants underlying both the NFT units and FT units would be exercisable for a period of 24 months from the date of issuance. However, those warrants will be exercisable for a period of 36 months from the date of issuance. All other terms of those warrants remain unchanged.

The company intends to use the net proceeds from the private placement to advance exploration activities at its recently staked Sweden property and Clay Howells West property located in Ontario, as well as for general corporate purposes and administrative expenses. The gross proceeds from the sale of the FT units will be used to incur Canadian exploration expenses within the meaning of the Income Tax Act (Canada).

All securities issued in connection with the private placement are subject to a statutory four-month hold period in accordance with applicable securities laws.

About Medaro Mining Corp.

Medaro is a mineral exploration company focused on the acquisition and advancement of high-quality mineral projects in Ontario, Quebec and Sweden. The company's strategy is to build shareholder value through systematic exploration, disciplined project evaluation and responsible development.

We seek Safe Harbor.