Mr. T. Barry Coughlan reports

QUADRO AMENDS OPTION AGREEMENT WITH TRU PRECIOUS METALS CORP.

Further to its Aug. 18, 2022, and April 25, 2023, news releases, Quadro Resources Ltd. has amended its Staghorn option agreement with TRU Precious Metals Corp.

The amended terms include:

• A minimum of $300,000 of the initial drilling commitments must be incurred by no later than Oct. 15, 2023, failing which TRU shall pay to Quadro on Oct. 15, 2023, a cash penalty in the amount of $25,000, and shall continue to pay a $25,000 cash penalty each subsequent quarter until July 15, 2024, or until such time as TRU has incurred an aggregate $300,000 of the initial drilling commitments.

On June 7, 2023, TRU provided an update on its trenching and channel sampling program at the Mark's Pond high-grade gold target at its Golden Rose project located in the highly prospective central Newfoundland gold belt. Trenching and channel sampling at Mark's Pond began in mid-May and are expected to continue in June (see the TRU news release dated June 7, 2023).

Pursuant to the terms of the Staghorn option agreement, TRU has the option to acquire up to an aggregate 65-per-cent ownership in Quadro's Staghorn project located in central Newfoundland. The Staghorn project is a large claim package of 133 claim units in eight mineral licences covering 3,325 hectares with a 12-kilometre strike length of the auriferous Cape Ray fault zone.

About Quadro Resources Ltd.

Quadro is a publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in North America. The company's shares trade on the TSX Venture Exchange under the symbol QRO. Quadro owns a 100-per-cent interest in the Staghorn property which it has optioned to TRU Precious Metals Corp., owns a 100-per-cent interest in the Long Lake property, has an option to earn a 100-per-cent interest in the Yellow Fox/Careless Cove properties, and has an option to earn an initial 51-per-cent interest in the Tulks South property, in Newfoundland.

We seek Safe Harbor.