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VANCOUVER, British Columbia, Feb. 03, 2022 (GLOBE NEWSWIRE) -- Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY) (“Medaro” or the “Company”), a multi-faceted organization committed to the ongoing development of an innovative spodumene processing technology and concurrent clean tech mineral development efforts, wishes to provide an update regarding plans for an exploration program during the spring and summer of 2022 at the Yurchison Uranium Property in Canada.
As previously announced on November 2, 2021, the company obtained an option to acquire up to a 70% interest in the Yurchison project, consisting of 12 claims in the Wollaston Domain of Northeastern Saskatchewan.
Medaro has contracted J-J Minerals of Sudbury, Ontario to complete a comprehensive data compilation on the Yurchison property. The scope off work will include the gathering of all previous assessment reports, government reports and maps on the property. Additionally, all geophysical reports and grid tiff files will be imported into ArcGIS mapping software for further study.
Subsequently, Medaro plans to mobilize an extensive exploration program at Yurchison this summer that will include, but is not limited to:
The Radiometric survey will encompass up to 5000-line kilometres and is to be accomplished utilizing a fixed wing aircraft as soon as the region is clear of snow. Effective measurements require clear dry ground for accurate results. The aerial survey will be based at a nearby outfitters operation which provides adequate runway length for airborne operations. The Radiometric survey will detect and map natural radioactive emanation from rocks and soils. The proposed survey and subsequent report are estimated to take 6 weeks to completion.
With the airborne study and data reports in hand, Medaro will embark on a field program designed to map and prospect all known showings across the Yurchison claims and to analyse any past drill core samples stored on the property. Current plans estimate between 1,500 and 1,600 samples will be accomplished over a 35-to-40-day program.
Company CEO, Michael Mulberry states, “Since my appointment to lead the Company, I have been pleased by the efforts undertaken to-date and have utilised my time to plan for an efficient and effective assessment of our uranium asset. The Wollaston Domain is an area recognized as a productive uranium region and we feel confident our study will prove of great value towards estimating our prospects and plans for the property. We will be moving ahead quickly to develop a clear economic understanding of our investment to ensure the best results for the Company and our shareholders.”
The Company is also pleased to announce the appointment of Medaro’s CEO, Michael Mulberry, as a director of the Company. For further information respecting Mr. Mulberry’s background, please see the Company’s news release dated January 20, 2022, a copy of which is available on www.SEDAR.com.
Additionally, the Company is pleased to announce a renewal agreement with Financial Star News Inc. (“FSN”) (address: 701 West Georgia Street, Suite 1500, Vancouver, V7Y 1C6; email: [email protected]) for marketing services for up to three months, commencing February, 2022.
FSN shall, as appropriate, create campaigns, ad groups, text ads, display ads, perform detailed keyword research, setup and manage remarketing campaigns, optimize keyword options, coordinate online advertiser and marketers corresponding to the customers online marketing targets, create landing pages for ad campaigns and bring attention to the business of the Company in consideration for USD $250,000 (plus applicable taxes). The promotional activity shall occur on theFinancialStar.com, by email, Facebook, and Google. FSN does not have any prior relationship with the Company aside from its previous engagement with the Company.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Mulberry, CEO Medaro Mining Corp.About Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (FWB: 1ZY)Medaro Mining is a lithium exploration company based in Vancouver, BC, which holds options on the Superb Lake lithium property located in Thunder Bay, Ontario, the Cyr South lithium property located in James Bay, Quebec and the Yurchison uranium property in Northern Saskatchewan. The Company 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. Find out more at: https://medaromining.com/.
For detailed information, investors are invited to review the Company’s filings available at www.sedar.com.
FOR FURTHER INFORMATION CONTACT:Investor RelationsEmail: [email protected]Tel: +1 (604) 800.0203Web: https://medaromining.com/
Forward-Looking StatementsThis news release contains certain forward-looking statements that are “forward looking information” 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 are “forward-looking information”. Such information may involve, but is not limited to, statements with respect to: (i) the Company’s near-term and summer exploration plans at its Yurchison property and the expected duration of such work programs; (ii) the Company’s confidence that its study will prove of great value towards estimating our prospects and plans for the property; (iii) the Company’s hope to move ahead quickly to develop a clear economic understanding of its investment to ensure the best results for the Company and its shareholders; (iv) the Company’s option over the Yurchison property; and (v) the Company’s agreement with FSN and FSN’s activities pursuant thereto. 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.
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy or contents of this news release.
