Bastnäs Sweden - Medaro Mining

Bastnäs

INTRODUCTION

Bastnäs Project, Sweden

SUMMARY

Property size

4,057 Hectares – 10,025 Acres

Stage

Developed Stage

Country

Sweden

A HISTORIC REE DISTRICT RE-OPENED WITH MODERN, MULTI-COMMODITY EXPLORATION

Key Investment Case

District-scale position: Three exploration permits cover approximately 4,057 ha in central Sweden’s Bergslagen mining district.
Rare-earth heritage: Bastnäs is historically associated with early REE mineral specie discoveries and production of cerium-rich ore.
Polymetallic opportunity: The project hosts historical iron and copper workings with REE, gold, copper and cobalt exploration potential.
Modern dataset now established: The 2026 program combined 218 surface rock samples with high-resolution drone magnetics.
Six priority areas identified: Results focus follow-up work around the Old Bastnäs, Häggruvan, Stålklockan, Persgruvan, Källfallsgruvan and slag areas.
Established access and infrastructure: Paved and forestry roads cross the project area, with regional power and water access.

TARGET

A 3km long, 10-20m thick zone of tectonically-controlled, remobilized massive sulphide lens.
Skarn-hosted magnetite-REE-mineralisation (Bastnäs-type) and associated Banded Iron Formation occurrences.

HISTORY

The Riddarhyttan-Bastnäs area is recognized for a long history of mining and mineral exploration which contains multiple historic mines and styles of mineralization.
The first production records for copper from the Riddarhyttan ore field were registered in 1633 and copper production continued through until 1873 where a combined total of 6,545t of copper were produced.
In addition to copper, iron ore, cobalt and REE were also historically mined from the Riddarhyttan-Bastnäs area including Ca. 160t of REE ore from the Nya Bastnäs deposit during the period 1860-1919. Cobalt was first discovered at Riddarhyttan in 1735, and the cerium-rich minerals were first recognised at Bastnäs in the 1750’s.
Previous exploration and development activity in the broader district has included combinations of historical workings, drilling, prospect-scale sampling, mapping, and geophysical investigation (including airborne geophysics in parts of the region).
The application of modern exploration techniques may assist in refining and prioritizing targets for copper, gold, massive sulfide-style base metals, and REE mineralization.
In 2019 a two-phase drill program was drilled at Bastnäs through a joint venture totaling C$7.61M between EMX Royalty Corp. and South32 – a total of 5,568m over 15 drill holes.

PAST EXPLORERS

Technical Information
The technical content of the website has been reviewed and approved by Amanda Scott BSc Geology, Faus(MM), an independent advisor to the Company and a Qualified Person (QP) under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

2026 Sampling Highlights

SELECTIVE ROCK SAMPLING^[1] RETURNS HIGH-GRADE REE, GOLD AND COPPER RESULTS

Broad program: 218 rock-chip samples collected from outcrops, historical workings, waste dumps and slag from across the project.
High-grade REE subset: Nine samples returned greater than 10% TREO; 22 samples returned greater than 1% TREO.
Gold and copper response: 15 samples returned greater than 2.0 g/t Au and 56 samples returned greater than 1.0% Cu.
Multiple metals present: Reported maxima include 0.34% Co, 0.31% W, 0.32% Mo and 41.2 g/t Ag, alongside elevated Ga values.

Sample	TREO	Au	Cu
BS39b	32.99%	-	-
BS53	19.53%	0.13 g/t	1.32%
BS52	12.57%	11.30 g/t	4.75%
BS159	11.68%	16.50 g/t	3.82%

[*] Rock-chip, dump and slag samples are selective in nature and may not represent in-situ grade, width or continuity.
[1] https://medaromining.com/medaro-mining-sampling-returns-up-to-32-99-total-rare-earth-oxides-16-5-g-t-gold-23-7-copper-260-1-g-t-gallium-oxide-0-31-tungsten-0-34-cobalt-at-bastnas-project-swede

Svavelberget Sulphide Trend

PREVIOUS DRILLING

(Swipe table below to view)

Prospect	Style of Mineralization	HoleID	From (m)	To (m)	Interval Length (m)	Cu %	Au g/t
Svavelberget	remobilized massive sulphides	RID-19-001	189.20	206.15	16.95	0.10	0.04
Svavelberget	remobilized massive sulphides	RID-19-002	99.15	132.85	33.70	0.01	0.08
Dammossen	disseminated sulphides	RID-19-005	135.00	165.50	30.50	0.18	0.01
Storgruvan	disseminated sulphides	RID-19-007	227.30	227.70	0.40	1.04	3.3
Old Bastnäs	skarn	RID-19-008	187.75	193.30	5.55	0.13	0.19
Ostergruvan	magnetite-BIF	RID-19-011	382.25	403.75	21.50	0.16	-
Ostergruvan	magnetite-BIF	RID-19-011	509.80	541.95	32.15	0.12	0.07

GEOLOGY

As indicated by EMX-South32 drilling a 3km long sulphide lens trends north-south through the Bastnäs project area. A 10-20m thick chaotic massive pyrrhotite dominated vein with altered wall rock. Formed by tectonic remobilization along a shear zone sub-parallel to stratigraphy. The location of the shear zone can be explained by the mechanically weak, intense magnesium (Mg)-alteration zone.
Anthophyllite altered rock is associated with remobilized massive sulphide dominated by magnesium-iron (Mg-Fe) silicates with extreme low major elements aluminum, calcium, sodium, potassium (Al-Ca-Na-K) and immobile trace elements titanium and zirconium (Ti –Zr).
Although copper grades are generally low in the remobilized massive sulphide a copper enrichment is noted towards the north-east when looking at historic drill holes.
Banded iron formations act as a host to mineralization.

newsfilecorp.com Source: Riddarhyttan technical report 2020

Rare Earth Opportunity

PREVIOUS DRILLING

(Swipe table below to view)

Prospect	Style of Mineralization	HoleID	From (m)	To (m)	Interval Length (m)	*TREO %
Lerklockan	disseminated REEs in mgt-tremolite-skarn	RID-19-013	268.60	289.00	20.40	0.97
		Incl.	272.45	277.75	5.30	0.76
		Incl.	281.20	288.20	7.00	1.65

HISTORY

Bastnasite was first discovered by Jöns Jakob Berzelius and Wilhelm Hisinger at the Bastnäs mine fields in 1803.
Between 1875 and 1885 approximately 4,500 tons of high-quality cerium (Ce) ore was mined at Bastnäs. Over 50 different types of minerals have been mined at Bastnäs with the dominant ore being iron ore.

LOGISTICS

Paved roads and forestry roads provide access throughout the project area, including to local artisanal mine dumps.
Water and power are locally sourced with excellent infrastructure across this entire Bergslagen region of Sweden.
2 hours by paved roads to Stockholm.

MODERN EXPLORATION

Phase 1 exploration program is underway, with initial assay results received and additional results pending.
The program includes a comprehensive assessment of rare earth enrichment in mine dump material and outcrop samples.
Modern geophysics is being utilized to delineate and refine new drill targets that may not have been identified by previous operators.
Results from Phase 1 will be used to prioritize targets for the next stage of exploration and drilling.

*TREO = Cerium, Dysprosium, Gadolinium, Lanthanum, Neodymium, Praseodymium, Samarium and Yttrium

pse-info.de – ekomuseum.se

Source: Riddarhyttan technical report 2020

World Renowned Mining Region – Bergslagen Belt

Bergslagen is recognized for its strong mineral endowment.
It is part of the geological structure known as the Fennoscandian Shield which covers most of Scandinavia. It is host to a large number of iron oxide and base metal sulphide deposits, some of which contain significant amounts of gold and silver.

These include both the Garpenberg mine and the Zinkgruvan mine (operated by Boliden AB).
The Bergslagen district in south-central Sweden is one of the world’s oldest mining districts.

US$1.45B acquisition – Boliden / Lundin Mining – Zinkgruvan
A$9.8M acquisition – BHP /Ragnar Metals – Tullsta

Alicanto Metals

Structural Trend

Source: Riddarhyttan technical report 2020 Source: SGU Kartvisare

CSE: MEDA

OTC: MEDAF

FWB: 1ZY

CSE: MEDA

OTC: MEDAF

FWB: 1ZY

Bastnäs

INTRODUCTION

SUMMARY

2026 Sampling Highlights

Svavelberget Sulphide Trend

Rare Earth Opportunity

World Renowned Mining Region – Bergslagen Belt

Structural Trend

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CSE: MEDA

OTC: MEDAF

FWB: 1ZY