Medaro Intersects 1.49 Percent Lithium Oxide Over 1.33 Metres at the Lac La Motte Lithium Property in Quebec, Canada

VANCOUVER, British Columbia, Feb. 15, 2023 (GLOBE NEWSWIRE) -- Medaro Mining Corp. (CSE: MEDA) (OTC: MEDAF) (“Medaro” or the “Company”) is pleased to announce the results of its 2022 diamond drilling program on its Lac La Motte Lithium Property (the “Property”) located in Quebec, Canada. The drilling was contracted to Forage Hebert Inc. of Amos, Quebec, who completed 19 NQ size core drill holes for cumulative drilling of 2,513 metres. The results of the drill holes show pegmatites of various widths and lithium (Li) grades which are summarized below (see Tables 1 and 2 attached to this news release for details).

Significant Intercepts

• Drill Hole MD22-02 Intersected a 0.7 m wide pegmatite with 0.89% lithium oxide (Li2O) at 72.7 m drilled depth.
• Drill Hole MD22-05 Intersected three pegmatites: top 0.79 m wide with 1.34% Li2O at 13.18 m depth; middle 0.7 m wide with 0.5% Li2O at 20 m depth; lower 0.81 m wide at 0.78% Li2O at 22.92 m depth.
• Drill Hole MD22-06 Intersected three pegmatites: top 0.11 m wide with 1.10% Li2O at 31.95 m depth; middle 0.87 m wide with 1.01% Li2O at 34.53 m depth; lower 0.80 m wide at 0.55% Li2O at 37.58 m depth.
• Drill Hole MD22-07 Intersected 1.76 m wide pegmatite with average 4,375 ppm Li / 0.94% Li2O.
• Drill Hole MD22-08 Intersected two pegmatites: Upper 1.33 m wide with 1.49% Li2O at 36 m depth; and lower 0.93 m wide at 0.88% Li2O at 41.2 m depth.
• Drill Hole MD22-17 Intersected 1.03 m wide pegmatite with 1,080 ppm Li at 46.9 m depth.

All intersections reported are based on drilled widths and have not been converted to the true width. The drill core from this program was logged and sampled at the core shack located about 50km from the Property in the village of St-Dominique du Rosaire. The 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 and sodium peroxide fusion (Na2O2). ACTLABS is an independent commercial, accredited ISO Certified Laboratory.

The pegmatites encountered within the significant drill intercepts correlate strongly with the historical diamond drilling completed on the Property in the 1950s’. The Company commenced a ground prospecting and sampling program immediately upon acquiring the Lac La Motte Property in May 2022. The field prospecting program identified and confirmed various lithium pegmatite outcrops on the Property. The field prospecting was the basis for deciding on the targets for the 2022 drill program. The Company will use the information acquired from the 2022 drill program to plan a follow up drill program at the Property in 2023.

Mr. Michael Mulberry, CEO of Medaro stated, “It is exciting to see positive results from yet another of our Quebec based Lithium projects. We are encouraged by these results and look forward to further exploration of Medaro’s Lac La Motte project in 2023, with satellite imaging and an expanded diamond drill program.”

Afzaal Pirzada, P.Geo., VP Exploration of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

About Lac La Motte Lithium Property

The Lac La Motte Property is located in the prolific mining area of Abitibi, Quebec, 40 kilometers Northwest of the city of Val-d’Or. There are several active lithium prospects/mines at various stages of exploration and development located approximately 5 km to 20 km from the Property.

On Behalf of the Board of DirectorsMichael Mulberry, CEO

About the Company

Medaro Mining Corp. is a lithium exploration company based in Vancouver, BC and holds options over the Darlin, Rapide and the CYR South lithium properties in Quebec and the Yurichson Uranium property in the Athabasca basin, Saskatchewan. Medaro holds a majority interest in a joint venture engaged in the development and commercialization of a new process to extract lithium from spodumene concentrate.

For more information, investors should review the Company’s filings that are available at www.sedar.com.

Forward-Looking Information

This news release contains certain statements that constitute “forward-looking information” within the meaning of Canadian securities laws (“Forward-looking Statements”). 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 Company’s plans for future exploration at Lac La Motte and the timing thereof 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 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.

Contact Information

[email protected]

604-602-0001

Table 1: Drill Hole Results

Table 2: Drill hole details