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Medaro Mining (CSE: MEDA) has announced a debt settlement agreement to clear $87,777.00 of debt by issuing 501,582 common shares at a deemed price of $0.175 per share. The settlement involves no warrants and will not create a new control person, with no insider participation. The shares will be subject to a four-month hold period from issuance, pending Canadian Securities Exchange approval. The company states this decision aims to reduce indebtedness while preserving cash and improving its financial position.
Medaro Mining Corp. (CSE: MEDA) has announced its exploration plans for a winter program at its Yurchison Uranium property in Saskatchewan, expected to begin within the next 45 days. The program will include geological prospecting, mapping, and sampling, aided by ground radiometric surveying using handheld gamma-ray spectrometers and scintillometers.
The primary goals are to determine the host-rock and/or structural control of previously identified radioactive mineral occurrences, explain the surficial expression of VTEM conductors, and locate additional zones of uranium mineralization. The Yurchison property is located approximately 95 km south of Rabbit Lake and McClean Lake uranium mines, along the southeastern boundary of the Athabasca Basin.
CEO Michael Mulberry expressed excitement about the program, stating it represents a critical next step in advancing the project and unlocking its full potential in the mineral-rich Athabasca Basin region.
Medaro Mining Corp. (CSE: MEDA) has commenced a diamond drilling program at its Lac La Motte lithium property in Quebec, Canada. The program, conducted by Forage Pelletier , is expected to cover 1,000 to 1,500 meters of NQ size drilling. This follows a 2023 Satellite Imaging Technology survey that identified prospective lithium targets along fault contact zones, and a May 2024 reconnaissance sampling program that refined drill target selection.
The drilling program aims to explore further after the discovery of a spodumene-bearing pegmatite boulder on the property in 2023, which assayed 5,380 ppm lithium (1.15% lithium oxide). CEO Michael Mulberry expressed optimism about the program's potential to advance the project in the mineral-rich Val-d'Or region.
Medaro Mining Corp. (CSE: MEDA, OTC Pink: MEDAD, FSE: 1ZY) has successfully fulfilled its earn-in obligations for the Superb Lake lithium project in Northwestern Ontario, Canada. The company now holds a 100% interest in the Property, which is located in the Thunder Bay Mining District. This achievement marks a significant milestone for Medaro, potentially strengthening its position in the lithium mining sector. The completion of the option agreement suggests that Medaro is advancing its strategic objectives in acquiring valuable lithium assets.
Medaro Mining Corp. has amended its option agreement with Skyharbour Resources regarding the Yurchison uranium property, making payments and share issuances to acquire a 100% interest in the Property by specific deadlines. The Company paid a fee of $2,500 for the amendment and must fulfill various financial obligations by 2025.