Medaro Mining Identifies Lithium Pegmatites at the CYR South Lithium Property in James Bay Area, Quebec

Medaro Mining Corp. (CSE: MEDA)(OTC:MEDAF)(FSE:1ZY) (“Medaro” or the “Company”) is pleased to announce the results of soil and rock samples from their 2022 exploration work on the CYR South Lithium Property (“CYR” or the “Property”) located in the James Bay Region of northern Quebec. The results indicate higher than expected lithium values in several pegmatites sampled across the Property. These pegmatites zones also show concurrent lithium anomalies in soil samples and will be further explored through trenching and drilling. Anomalous values of other rare metals, such as beryllium, cesium, niobium and tantalum, were also found in the soil and rock samples.

Program Description
The summer 2022 work program was comprised of soil and rock sampling and geological mapping, aimed at identifying a group of pegmatites for their potential to host lithium mineralization. A total of 600 soil samples and 18 rock samples were collected as part of the work program. 42.58-line kilometres of ground magnetic and VLF geophysical survey was also completed as part of this work program. The results of rock and soil samples are reported in this news release and the ground geophysical survey will be reported separately.

Assay Highlights

Rock Samples

• Rock samples assays show lithium values in the range of less than 15 parts per million (ppm) to 1,480 ppm (Figure 1) with five pegmatites sampled for higher lithium and require a follow up work of trenching and drilling.
• Beryllium (Be) values are in the range of 6 ppm to over 5,000 ppm (above the laboratory’s detection limit) with six samples showing over 5,000 ppm.
• Cesium values are in the range of 6 ppm to 1770 ppm, and rubidium (Rb) in the range of 3.2 ppm to 285 ppm.

Soil Samples

• Lithium values are in the range of less than 15 ppm to 73 ppm (Figure 2). A cluster of anomalies in the middle of the Property is considered as a high value target for trenching and exploratory drilling.
• Cesium values are in the range of 0.3 ppm to 26.6 ppm.
• Niobium is from less than 2.4 ppm to 24.3 ppm and tantalum is 0.3 ppm to 21.2 ppm.
• Rubidium is in the range of 3.1 ppm to 127 ppm.
• Several samples with higher cesium, niobium, tantalum and rubidium values are concurrent with lithium anomalies.

All rock and soil samples were bagged and tagged using best practices and were delivered to Activation Laboratories (“ACTLABS”), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7.

Figure 1: Rock Samples Results from 2021 and 2022 sampling.

Figure 2: Soil samples results for lithium.

The Company expects to advance the next stage of its exploration work based off the new information gained from the soil and rock sample program at the Property. The basis for beginning this preliminary surface exploration work at CYR is to identify new pegmatites across the Property in order to help establish targets for a potential, future diamond drill program. CYR is one of four Quebec properties within the Medaro portfolio and all are in close proximity to each other which provides cost savings when conducting multiple drill programs by sharing camps, core shack, and other equipment. The Company will provide an update to the viability and timeline for a future drill program once the completed ground geophysical survey results have been fully analyzed and reported.

Michael Mulberry, CEO of Medaro stated that, “We are excited to see promising results on our exploration efforts for the CYR South property. James Bay area is a prolific region for discovering high grade lithium deposits with several new discoveries made recently. The Company is planning to carry out trenching and diamond drilling programs on the identified targets.”