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Vancouver, British Columbia–(Newsfile Corp. – September 10, 2026) – Medaro Mining Corp. (CSE: MEDA) (OTCID: MEDAF) (FSE: 1ZY) (“Medaro” or the “Company”)<\/b> is pleased to announce highly encouraging rock chip assay results for its Bastn\u00e4s Project, a prospective rare earth element (“REE”) project in central Sweden, located in the prolific Bergslagen Mining District (the “Project”). A total of 218 rock samples were collected from a wide range of waste dumps and outcrops across the extent of the project during the summer period of 2026. The program was supported by a high-resolution low elevation drone magnetic survey that was flown across the extent of the permits. Several highly encouraging targets have been identified for further exploration in the later part of 2026, with additional mineralogical work and core drilling planned to further evaluate these targets.<\/p>\n
The results of the surface sampling program highlight the overall polymetallic nature of the Bastn\u00e4s Project with exceptional grades of critical metals returning results from 9.7% to 33% Total Rare Earth Oxides (“TREO”), alongside significant grades of gold, copper, silver, gallium and tungsten. <\/p>\n
Selective individual rock chip samples returned up to 16.5 g\/t gold and 23.7% copper, 0.31% tungsten (“W”), 260.1 g\/t gallium oxide (“Ga\u2082O\u2083”) and 0.34% cobalt (“Co”)<\/b>. Of the total samples collected, 22 returned greater than 1.0% TREO, including nine samples that returned greater than 10% TREO and 19-24% neodymium-praseodymium oxide (“NdPr”) content.<\/p>\n
The Company believes these results demonstrate that the Bastn\u00e4s mineralized system hosts a highly diverse assemblage of significant rare earth and polymetallic mineralization, supporting further systematic exploration.<\/p>\n
Rock-chip and waste-dump samples are selective in nature and may not be representative of the underlying or in-situ mineralization. The original location and geological context of mineralized material collected from historical waste dumps or slag are not known. The results do not demonstrate mineralized widths, continuity or economically recoverable mineralization.<\/p>\n
“The results from our 2026 sampling program have provided a strong foundation for advancing Bastn\u00e4s,” said Mark Carruthers, President and CEO of Medaro Mining. “We have identified high-grade rare earth results, including up to 32.99% TREO, along with significant copper and gold mineralization across several areas of the Project. The program has also helped us identify and prioritize multiple targets for follow-up exploration. We are now focused on mineralogical work and targeted drilling to evaluate the depth and continuity of this mineralization, and we are excited about the next phase of exploration and the opportunity to follow through on these targets.”<\/i><\/p>\n
Highlight: High-Grade Rare Earth Elements (“REE”)<\/b><\/p>\n
A half-kilogram sample (BS39b) of magnesium-iron-calcium (“Mg-Fe-Ca”) enriched skarn rock found on dumps at the historic Cerite Shaft returned 32.99% <\/b>TREO. See Figure 1 for location. This assay result contains the following light rare earth oxide (“LREO”) percentages:<\/p>\n
lanthanum oxide (“La2<\/sub>O3<\/sub>“) 9.51%, cerium oxide (“CeO2<\/sub>“) 15.78%, praseodymium oxide (“Pr6<\/sub>O11<\/sub>“) 1.56%, neodymium oxide (“Nd2<\/sub>O3<\/sub>“) 4.93%, samarium oxide (“Sm2<\/sub>O3<\/sub>“) 0.67%, and gadolinium oxide (“Gd2<\/sub>O3<\/sub>“) 0.38% (LREO 99.6% of TREO). The sample also contains 0.37% yttrium oxide, 1.75% fluorine and 3.48% loss on ignition volatiles.<\/p>\n A further seven samples from a selection of waste rock dumps around the Old Bastn\u00e4s mines and one sample from the historic St\u00e5lklockan workings all contained copper sulphide and gold mineralization with >10% TREO (see Table 1 below).<\/p>\n Figure 1: The Bastn\u00e4s Project showing historic surface core drilling and areas of interest generated through this surface sampling project<\/i><\/p>\n To view an enhanced version of this graphic, please visit: Based on surface assay results, there are six areas of interest across the extent of the project. All areas consist of historic mine workings of various ages and extents.<\/p>\n Table 1: Eight additional high grade TREO assay results (>10%) with gold and copper mineralization<\/i><\/p>\n To view an enhanced version of this graphic, please visit: All samples shown above in Table 1 above had visual chalcopyrite and pyrite with a sulfur: copper ratio (“S:Cu”) showing that chalcopyrite is the dominant sulphide. The sulphide mineralization also contains anomalous cobalt. Many of the samples also showed brecciation textures with sulphide cementation. BS39b is not included in this table as the sample had no significant concentrations of gold and copper.<\/p>\n Across the project a total of 28 samples also had copper grades >2% and\/or gold grades > 2 g\/t but with low TREO results, typically <0.30%. See Table 2 below for assay results. Cobalt grades up to 0.34% are found in Area D at the old B\u00f6ssan underground mine.<\/p>\n Table 2: Gold and Copper assay results for a further 28 samples across the project<\/i><\/p>\n To view an enhanced version of this graphic, please visit: The following maps show the distribution of gold, copper and TREO assay results across the extent of the Project.<\/p>\n Figure 2: Distribution of gold assay grades<\/i><\/p>\n To view an enhanced version of this graphic, please visit: From the 218 samples, a total of 15 samples assayed greater than 2.0 g\/t Au, with two samples assaying greater than 10.0 g\/t Au. The highest grade of 16.5 g\/t Au is associated in the same sample with 3.82% Cu and 11.68% TREO mineralization from a skarn-sulphide dump rock sample collected at the St\u00e5lklockan mine workings in Area C.<\/p>\n Plate 1<\/i><\/u><\/p>\n BS 159: 0.97 kg Skarn rock with dense dissemination of chalcopyrite<\/p>\n To view an enhanced version of this graphic, please visit: Figure 3: Distribution of copper assay grades<\/i><\/p>\n To view an enhanced version of this graphic, please visit: From the 218 samples, a total of 56 samples assayed greater than 1.0% Cu. A total of 10 of these samples assayed > 10% Cu, seven of which were found on the waste dumps around the Persgruvan – B\u00f6ssan underground mine workings in Area D.<\/p>\n Figure 4: Distribution of TREO assay grades<\/i><\/p>\n To view an enhanced version of this graphic, please visit: Plate 2<\/i><\/u><\/p>\n BS19 (R) 1.30 kg Massive sulphide (23-24% sulfur) with chalcopyrite, pyrite and small breccia clasts<\/p>\n To view an enhanced version of this graphic, please visit: From the 218 samples a total of 35 samples had initial assay results with Lanthanum + Cerium + Yttrium grades > 0.3%. This was the criteria for carrying out further assay of the entire suite of REE. Of these results a total of nine results reported greater than 10% TREO.<\/p>\n Plate 3<\/i><\/u> <\/p>\n BS39b 0.46 kg from the Cerite Shaft (L) and BS53 1.01 kg (C) BS 193 0.67 kg (R) all from the Old Bastn\u00e4s mines in Area A. No sulphide in BS39b<\/p>\n To view an enhanced version of this graphic, please visit: Geological & Mineralization Setting<\/b><\/p>\n The Bastn\u00e4s project area is dominated by Palaeoproterozoic aged felsic volcanics and related sedimentary strata such as dolomitic and ancient ash beds. The geology has been extensively hydrothermally altered with iron, magnesium and calcium ingress forming an array of skarn minerals such as actinolite, tremolite, magnetite and cordierite. <\/p>\n Polyphase deformation coupled with periods of regional felsic and mafic magmatism have created a complex geological architecture hosting episodic mineralization events. Dominant magnetite horizons have been extensively exploited, along with pockets of copper and gold sulphide mineralization. Bastn\u00e4s has a profound history with the discovery of cerite and the subsequent identification of a raft of REE minerals, notably the fluorcarbonate bastn\u00e4site.<\/p>\n The surface sampling project has successfully located high grade copper, gold and rare earth mineralization at a number of old workings, including old slag dumps. Whilst the exact location of mineralization from the underground mines remains unknown, the new data set has formed a clear picture of priority areas for the project and will form a base for further exploration. <\/p>\n A snapshot from an interactive 3D model is shown below. This model was acquired from the Geological Survey of Sweden (SGU) and shows the layout of underground workings connected to the B\u00e4ckegruvan Mine prior to closure in the late 1970’s. Deep drifts were extended to connect northwards to the deeper workings at Bastn\u00e4s and Persgruvan (Areas A and D) and were used to drill holes for magnetite exploration.<\/p>\n To view an enhanced version of this graphic, please visit: Multi Element Critical Mineral Mineralization <\/b><\/p>\n The significance of the Bastn\u00e4s Project extends beyond its exceptional rare earth mineralization. Assay results from the Company’s systematic sampling program have identified a broad suite of critical and strategic metals occurring throughout the Project, including REE’s, gallium, cobalt, molybdenum and tungsten, together with high-grade copper, gold and silver.<\/b><\/p>\n The combination is particularly notable in the context of growing global efforts to diversify supply chains for critical minerals. REEs such as neodymium and praseodymium are essential components of high-performance permanent magnets used in electric vehicles, wind turbines, robotics, electronics and other advanced technologies. Gallium is critical to semiconductor and high-frequency applications, while cobalt, tungsten and molybdenum are important inputs to batteries, specialty alloys, hard metals and advanced industrial applications.<\/p>\n Exceptional Results from Bastn\u00e4s <\/b><\/p>\n Below is an industry standard spider plot of normalized REE assay data for nine high grade samples, showing that the mineralogy of all REE-bearing samples appears to be similar. All samples are dominated by the Light Rare Earth Elements (“LREEs”) – lanthanum (“La”), cerium (“Ce”), praseodymium (“Pr”), neodymium (“Nd”), samarium (“Sm”), europium (“Eu”) and gadolinium (“Gd.”) with a pronounced europium anomaly.<\/p>\n![\"Cannot](\"https:\/\/images.newsfilecorp.com\/files\/8279\/313728_d435689d849c6a96_001full.jpg\")
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![https:\/\/images.newsfilecorp.com\/files\/8279\/313728_d435689d849c6a96_025full.jpg<\/a><\/p>\nSampling Locations and Assay Procedures<\/b><\/p>\nEach of the 218 samples collected in the field has been prepared and assayed by accredited ALS Scandinavia Laboratories based in Sweden. Average sample weight was 1.0 kg. All samples were photographed and recorded with a GPS coordinate. During preparation for samples to be submitted to ALS, a detailed description of each was captured, along with parameters such as magnetism, visible sulphide content, general geology and mineralogy estimation.<\/p>\nAt ALS procedures Au-AA23 and ME-MS61 were used first for gold and trace element assay. Quality control was provided by ALS internal procedures. No external quality control and quality assurance (“QA\/QC”) samples were submitted. Over grade copper results (>10,000 parts per million (“ppm”) were automatically re-assayed using method Cu-OG62 as well as over grade gold results (>10 ppm) by method GRA21. Re-assay of over grade iron with method Fe-OG62 and sulfur with method S-IR08 was also carried out.<\/p>\nFor the rare earth elements, initial ME-MS61 assay results were used to determine the sum of cerium, lanthanum and yttrium. For all samples where the result exceeded 3000 ppm, assay procedure ME-MS81h for ore grade REE was then applied. In the case of a number of samples further over grade testing was required at specialized facilities in Canada using method ICPAES-OGREE for very high grade of lanthanum (“La”), cerium (“Ce”), praseodymium (“Pr”). For all samples with >10% TREE, method ME-IC881 was applied to determine fluorine content and method OA-GRA05 for determining Loss on Ignition (LOI) at 1000\u00b0.<\/p>\nAdjustments made to the assay data were limited to the conversion of reported elemental assays for a range of elements to the equivalent oxide compound as applicable to rare earth oxides (REO). In all instances the original element data has been stored in the database and the equivalent oxide values loaded into appropriately labelled field identifying them as calculated values. Selected checks on these calculated fields did not identify any issues. The oxides were calculated from the element according to the standard following factors: <\/p>\n](\"https:\/\/images.newsfilecorp.com\/files\/8279\/313728_d435689d849c6a96_025full.jpg\"){kind=link}