Vancouver, British Columbia – May 31, 2024 – Medaro Mining Corp. (CSE: MEDA OTC:MEDAF FWB:1ZY) (“Medaro” or the “Company”) is pleased to announce that it has completed an in-depth mapping and geo-chemical exploration program at its 15 100% owned claims (the “Owned Lac La Motte Claims”) on the South West area of Lac La Motte (“Lac La Motte”), south of Amos, in the Abitibi region of Quebec.
The recently acquired claims (see the Company’s news release dated October 10, 2023) start 5.5 km along a rural route road off highway 109, 26 km south of the town of Amos, QC, and lie on the SW corner of the lake area and north along the west side of the lake. The Owned Lac La Motte Claims differ from the claims the Company had originally optioned at Lac La Motte, in that the latter lie on the SE corner of the lake, accessed along highway 111. The discovery of large pegmatite outcrops on the new Owned Lac La Motte Claims was the catalyst to shifting focus to the new claims.
Using both traditional sampling and also a Shaw backpack drill, Medaro’s crew tested all the recently discovered pegmatite outcrops for spodumene and other trace elements. Drilling test holes with BQ-sized bits, the crew was able to drill a series of up to 10 ft long core. In addition, traditional rock sampling was conducted on quartz outcropping running perpendicular to the pegmatite outcrop. Observations showed indications of significant base metals. Both the drill and rock samples will be logged and analysed in the Company’s core shack in Amos and sent to Actlabs in Val d’Or for assay.
Michael Mulberry, CEO of Medaro, states “Medaro is excited for the prospect of a new discovery at Lac La Motte. Not only are the Owned Lac La Motte Claims in a prolific mining area, but the logistics of the property itself make for an exciting opportunity, given the claims are equidistant to Amos and Val d’Or, giving Medaro access to world-class drilling companies, suppliers and workers. This, coupled with our positive discussions with land owners, bodes well for future exploration and diamond drilling on the project.”
In addition, the Company announces that it has terminated its option agreement with Fayz Yacoub, respecting Mr. Yacoub’s property at Lac La Motte. The company wishes to, instead, focus on the Owned Lac La Motte Claims. Management at Medaro wishes to thank Mr. Yacoub for his professionalism in all his dealings with the Company.
Qualified Person
Afzaal Pirzada, P.Geo., a “Qualified Person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information contained in this news release.
On Behalf of the Board of Directors
Michael R. Mulberry, CEO and Director
About the Company
Medaro Mining Corp. is a lithium exploration company based in Vancouver, BC, which holds options over the Darlin, Rapide and Cyr lithium projects located in Quebec and the Yurchison uranium property located in Northern Saskatchewan and owns the Pontax and Lac La Motte properties located in Quebec and the
Superb Lake property, located in Ontario. Medaro is also involved in the development and commercialization of a new process to extract lithium from spodumene concentrate through its Global Lithium Extraction Technologies joint venture.
For more detailed information, please consult the Company’s filings, available at www.sedarplus.ca.
Contact Information
info@medaromining.com
604-602-0001
Forward Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding: the potential for a new discovery at Lac La Motte; the logistics of the property making for an exiting opportunity; the property’s location enabling access to world-class drilling companies, suppliers and workers; and the logistics and positive discussions with land owners boding well for future exploration and diamond drilling at the project, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully, and readers are cautioned not to place undue reliance on such forward-looking statements. The forward- looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.
