Medaro Signs LOI to Acquire up to 100% Interest in the past Producing Sala Silver-Zinc Project, Sweden

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Medaro Mining Corp. (CSE: MEDA) (OTCID: MEDAF) (FSE: 1ZY) ("Medaro" or the "Company") is pleased to announce that it has entered into a non-binding Letter of Intent (the "LOI") with Alicanto Minerals Ltd. (ASX: AQI) (the "Optionor"), pursuant to which it may acquire up to a 100% legal and beneficial interest in the Sala Zinc-Silver Project ("Sala" or the "Property"), located in Sweden. The Property is comprised of several exploration permits covering an area of 91km² prospective for zinc and silver. The LOI provides for an exclusivity deposit, and the parties are targeting execution of a definitive agreement by the end of May 2026.

Sala is a brownfield polymetallic zinc-silver-lead skarn project located in the Bergslagen mining district of Sweden, approximately 180km from Stockholm. The Project hosts an Inferred Mineral Resource of 9.7Mt @ 214g/t AgEq¹.

Key Highlights

• Inferred Mineral Resource of 9.7Mt @ 214g/t AgEq¹, including zinc, silver and lead mineralisation defined at the Prince Lode and Sala/Sala NW zones.

• Established brownfield setting, with historic mining activity at Sala dating back to at least the 15th century².

• High-grade historic silver-lead production, with more recent geological reviews citing cumulative historic production of approximately 450t silver and 35kt lead from approximately 5Mt of mined material^{2 & 3}.

• Demonstrated high-grade mineralisation, including locally bonanza-grade³ silver ore historically mined at Sala and high-grade zinc-silver-lead drill intercepts reported by Alicanto⁵.

• Substantial exploration dataset, including more than 28,000m of diamond drilling completed by Alicanto and review of over 35,000m of historical drill core.

• Multiple growth targets, with the mineralised system remaining open in several directions and priority targets identified around Prince Lode, Sala, Sala NW, Bronäs within the Property and other limestone/dolomite-hosted zones.

• The 2025 Fraser Institute ranked Sweden as the 2nd top jurisdiction in Europe and 9th globally.

The Sala Zinc-Silver Project comprises a zinc-silver-lead mineralised limestone/skarn system hosted within the Bergslagen volcanic region. The deposit has geological similarities to other major polymetallic underground mines in the district, including Boliden's Garpenberg and Zinkgruvan mines⁴.

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