Medaro Mining Corp. has entered into a definitive earn-in agreement with Sinclair Gold Ltd. to acquire up to a 100% interest in the Sala Silver-Zinc Project in central Sweden. The property spans 91 square kilometres across multiple exploration permits and is prospective for silver and zinc.

Under the terms of the agreement, Medaro can acquire up to a 90% interest by completing staged cash payments totalling CDN $800,000, issuing 800,000 common shares, and funding CDN $1,750,000 in exploration expenditures over a two-year period.

An initial payment of CDN $50,000 in cash and 250,000 consideration shares is due within five days of the agreement's commencement date, alongside obtaining all necessary regulatory approvals, including clearance from the Canadian Securities Exchange.

To reach a 50% interest by the first anniversary, Medaro must pay CDN $250,000 in cash, issue another 250,000 shares, and incur CDN $750,000 in exploration expenditures. Achieving a 90% interest by the second anniversary requires a further CDN $500,000 in cash, 300,000 shares, and CDN $1,000,000 in exploration work.

Following the 90% earn-in, Medaro holds an option to acquire the remaining 10% interest on or before the third anniversary by paying CDN $500,000 in cash and issuing 400,000 shares. Sinclair Gold Ltd. will retain a 1.0% net smelter return royalty upon Medaro reaching a 90% interest, which increases to 2.0% once the full 100% acquisition is completed. All issued securities are subject to a four-month statutory hold period.

The definitive agreement follows a non-binding letter of intent signed in May 2026.

“The successful signing of a definitive earn-in agreement for the acquisition of the Sala Silver-Zinc Project is an exciting milestone for Medaro and an important step in building our portfolio of high-quality exploration assets”

— Mark Carruthers, President and CEO of Medaro Mining

Medaro holds additional mineral assets in Sweden's Bergslagen region, including exploration permits at the Bastnäs and Bäckegruvan projects.

“Sala is an exceptional project with promising potential, established infrastructure, existing exploration data, and significant potential for growth. A considerable amount of capital and technical work has already gone into advancing the property, and we are excited to build on that foundation through focused exploration and technical evaluation.”

— Mark Carruthers, President and CEO of Medaro Mining

The transaction marks a key step for Medaro as it continues its exploration and acquisition strategy across its Swedish project portfolio.

Read the full announcement: Medaro Enters into Definitive Earn-In Agreement to Acquire up to 100% Interest in the Sala Silver-Zinc Project, Sweden