Medaro Mining Corp. has returned rock chip assay results of up to 32.99% Total Rare Earth Oxides from its Bastnäs Project in central Sweden's Bergslagen Mining District.

The summer field program involved collecting 218 rock samples from waste dumps and outcrops across six areas of historic mine workings within the property, complemented by a high-resolution low-elevation drone magnetic survey.

Assay results confirmed a polymetallic mineral assemblage across the permit area. A half-kilogram sample of magnesium-iron-calcium enriched skarn rock from dumps at the historic Cerite Shaft yielded 32.99% TREO, consisting predominantly of light rare earth elements including 9.51% lanthanum oxide, 15.78% cerium oxide, and 4.93% neodymium oxide.

Selective sampling also returned peak grades of 16.5 g/t gold, 23.7% copper, 0.31% tungsten, 260.1 g/t gallium oxide, and 0.34% cobalt. Of the total sample suite, 22 specimens returned greater than 1.0% TREO, with nine exceeding 10% TREO. Additionally, 56 samples assayed above 1.0% copper and 15 samples returned gold grades exceeding 2.0 g/t.

The company is preparing to advance mineralogical work to confirm the presence of bastnäsite within the sampled material. Medaro is also planning a Phase II core drilling program for the latter part of 2026 to evaluate the depth and continuity of目 the high-grade targets.

Ownership of the project comprises two exploration permits held on trust by McKnight Resources AB and one permit held by Explora Mineral AB. The complete transfer of 100% of the permits to Medaro remains pending regulatory approval from the Inspectorate of Strategic Products and the Geological Survey of Sweden.

"The results from our 2026 sampling program have provided a strong foundation for advancing Bastnäs," 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."

Read the full announcement: 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, Sweden