Medaro Mining Announces Agreement to Acquire Bäckegruvan nr 1 Property

Vancouver, British Columbia--(Newsfile Corp. - April 28, 2026) - Medaro Mining Corp. (CSE: MEDA) (OTCQB: MEDAF) (FSE: 1ZY) ("Medaro" or the "Company") is pleased to announce that it has entered into a mineral property purchase agreement with an arm's length vendor (the "Agreement") to acquire a 100% interest in a certain exploration permit known as Bäckegruvan nr 1 located in Skinnskatteberg Municipality, Västmanland County, Sweden (the "Property").

The Bäckegruvan 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, Bäckegruvan closed. The main commodities mined were iron and copper with 15Mt iron ore, 6.5kt 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 recognised 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 sulfide 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 sulfide bodies. These massive sulfide lenses were partially exploited in earlier centuries for copper and sulfur. They are traceable over several kilometres of strike length and are open at depth. Certain portions of the pyrrhotite-dominant massive sulfide bodies exhibit enrichment in copper and zinc, which are frequently observed as clasts of chalcopyrite and sphalerite incorporated within the sulfide material. Historical drilling of these massive sulfide targets has been limited.

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