Mr. Mark Carruthers reports

MEDARO ENTERS INTO DEFINITIVE EARN-IN AGREEMENT TO ACQUIRE UP TO 100% INTEREST IN THE SALA SILVER-ZINC PROJECT, SWEDEN

Further to its news release dated May 13, 2026, Medaro Mining Corp. has entered into a definitive earn-in agreement with Sinclair Gold Ltd., formerly known as Alicanto Minerals Ltd. (the optionor), pursuant to which Medaro Mining may acquire up to a 100-per-cent legal and beneficial interest in the Sala silver-zinc project, located in central Sweden. The property comprises several exploration permits covering an area of 91 square kilometres prospective for silver and zinc.

Transaction terms

Pursuant to the agreement, the company may acquire up to a 100-per-cent interest in the property in stages, by way of acquiring shares of a holding company that holds the property, by making cash payments and share issuances to the optionor and incurring exploration expenditures.

The company may earn up to a 90-per-cent interest in the property by making aggregate cash payments of $800,000, issuing an aggregate of 800,000 common shares and incurring aggregate exploration expenditures of $1,750,000 as follows:

• Initial payment: $50,000 in cash and 250,000 consideration shares, payable within five days of the commencement date of the agreement;
• Year 1 earn-in (50-per-cent total interest): $250,000 in cash, 250,000 consideration shares and $750,000 of exploration expenditures on or before the first anniversary of the commencement date;
• Year 2 earn-in (90-per-cent total interest): $500,000 in cash, 300,000 consideration shares and $1-million of exploration expenditures on or before the second anniversary of the commencement date.

Following completion of the earn-in, the company may acquire the remaining 10-per-cent interest in the property by paying $500,000 in cash and issuing 400,000 consideration shares on or before the third anniversary of the commencement date.

Upon the company earning a 90-per-cent interest in the property, the optionor will retain a 1.0-per-cent net smelter return royalty, which will increase to 2.0 per cent upon the company acquiring a 100-per-cent interest in the property.

The earn-in and the option are exercisable at the company's sole discretion, and the company may accelerate the timing of the payments, share issuances and exploration expenditures.

All securities issued in connection with the transaction will be subject to a four-month statutory hold period in accordance with applicable securities laws.

The completion of the transactions contemplated by the earn-in and option are subject the parties obtaining all necessary consents, orders and regulatory approvals, including the approval of the Canadian Securities Exchange.

"The successful signing of a definitive earn-in agreement for the acquisition of the Sala silver-zinc project is an exciting milestone for Medaro and an important step in building our portfolio of high-quality exploration assets," said Mark Carruthers, president and chief executive officer of Medaro Mining. "Sala is an exceptional project with promising potential, established infrastructure, existing exploration data and significant potential for growth. A considerable amount of capital and technical work has already gone into advancing the property, and we are excited to build on that foundation through focused exploration and technical evaluation. I want to personally thank the teams at Medaro and Sinclair, along with our advisers, for their hard work and commitment in bringing this transaction to completion. We look forward to advancing the Sala project and creating long-term value for our shareholders."

Jeff Sansom, chief executive officer of Sinclair Gold, commented: "We are pleased to complete this agreement with Medaro and establish a clear pathway for the continued advancement of the Sala project. Sala has benefited from considerable historical work and remains a highly prospective silver-zinc asset in an established mining district. We believe Medaro is well positioned to unlock the project's potential through focused exploration while preserving meaningful future exposure and value for Sinclair shareholders."

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.