Mr. Mark Ireton reports

MEDARO MINING ANNOUNCES AGREEMENT TO ACQUIRE BÄCKEGRUVAN NR 1 PROPERTY

Medaro Mining Corp. has entered into a mineral property purchase agreement with an arm's-length vendor to acquire a 100-per-cent interest in a certain exploration permit known as Backegruvan nr 1 located in Skinnskatteberg municipality, Vastmanland county, Sweden.

The Backegruvan nr 1 exploration permit covers a major part of the Riddarhyttan iron-oxide-copper-gold district of the Bergslagen mining region. Historic mine production at Riddarhyttan dates from before 1420 until 1979 when the last mine, Backegruvan closed. The main commodities mined were iron and copper with 15 Mt (million tonnes) iron ore, 6,500 tonnes copper metal. Smaller amounts of high-grade cobalt and cerium ore have also been produced in historic times, and the elements cobalt and cerium are first discovered and recognized in minerals from the Riddarhyttan mines.

About the property

The property hosts numerous historic mine workings and a range of mineralization styles. Past mining activity primarily targeted iron-oxide-rich zones, which are also known to carry elevated levels of copper, cobalt and gold. Iron-oxide mineralization was extracted from multiple sites across the property and is interpreted to persist both along strike and below the limits of historic workings. While the spatial distribution and continuity of copper, cobalt and gold within these zones are not yet well constrained, copper sulphide mineralization is commonly observed in historical waste dumps and mine remnants throughout the property.

In addition to the iron oxide-hosted mineralization, the property includes zones enriched in rare-earth elements, as well as pyrrhotite-dominated massive sulphide bodies. These massive sulphide lenses were partially exploited in earlier centuries for copper and sulphur. They are traceable over several kilometres of strike length and are open at depth. Certain portions of the pyrrhotite-dominant massive sulphide bodies exhibit enrichment in copper and zinc, which are frequently observed as clasts of chalcopyrite and sphalerite incorporated within the sulphide material. Historical drilling of these massive sulphide targets has been limited.

Mineralization at the property is spatially associated with mid-proterozoic supracrustal volcanic and sedimentary successions. Hydrothermal alteration is extensive across the property and is characterized by strong enrichment in iron, sodium, calcium, potassium and magnesium within the host rocks. Regionally, the property coincides with a pronounced magnetic anomaly as defined by airborne and regional geophysical surveys.

The company notes that references to nearby mineral occurrences, historical production, historical exploration results and mining activities, deposits, projects, and mines are provided for regional and geological context only, and have not been verified for the property. These references are not necessarily indicative of the geology of the property or that the property hosts similar potential, size or grades of mineralization. The company has not yet completed sufficient work to confirm the presence of mineralization on the property and there is no assurance that further work will result in a mineral resource classification.

Transaction highlights

Under the terms of the agreement, the company has agreed to acquire a 100-per-cent interest in the property in consideration for the payment of $50,000 cash and the issuance of $150,000 worth of common shares to the vendor upon closing. The vendor will retain a net smelter returns royalty (NSR) over the property, comprising a 1.5-per-cent NSR applicable to certain portions of the property and a 0.5-per-cent NSR applicable to certain other portions of the property. The company holds the irrevocable right to repurchase two-thirds interest of the 1.5-per-cent NSR (being 1.0 per cent) from the vendor, at any time prior to the commencement of commercial production on the property, in consideration for $1-million.

The transaction is subject to acceptance by the Canadian Securities Exchange (CSE) and applicable Swedish regulatory approvals. Any common shares issued pursuant to the agreement will be subject to a statutory hold period of four months from the date of issuance.

Qualified person

Amanda Scott, PGeo, FAusIMM, a qualified person as defined under 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.

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.