Mr. Brian Ostroff reports

MADORO METALS CORP. ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT FOR PROPOSED REVERSE TAKEOVER WITH NARROW RIVER RESOURCES

Further to its news releases dated Feb. 2, 2026, and May 4, 2026, Madoro Metals Corp. has entered into a definitive share purchase agreement with 9525-9867 Quebec Inc. (the vendor) and Narrow River Resources Pty. Ltd. (NRR) in respect of the company's previously announced proposed reverse takeover transaction with NRR.

Pursuant to the definitive agreement, Madoro will acquire the Quebec mineral assets of NRR through the acquisition of the outstanding shares of a Quebec subsidiary, in consideration for the issuance of common shares of Madoro and certain related transaction consideration, on the terms and subject to the conditions set out in the definitive agreement.

"With documentation signed, we are now fully focused on advancing our combined company," said Brian Ostroff, Madoro's executive chairman. "Already home to several significant hard-rock lithium finds, Quebec has shown itself to be a world-class destination for critical minerals' exploration. The merger of our companies has established the leading lithium exploration opportunity in the emerging Decelles camp of Quebec."

The execution of the definitive agreement represents an important milestone in advancing the proposed transaction. Madoro and NRR are continuing to work toward completion of the remaining transaction documentation and disclosure materials required under TSX Venture Exchange Policy 5.2, Changes of Business and Reverse Takeovers, including the preparation and finalization of the management proxy circular to be sent to the company's shareholders in connection with a special meeting of shareholders required to approve the proposed transaction.

The company is also proceeding with its previously announced concurrent non-brokered private placement for aggregate gross proceeds of up to $1.23-million, comprising hard-dollar units and flow-through units, the completion of which remains subject to TSX-V acceptance and all other required regulatory approvals. The parties remain committed to moving the proposed transaction forward and will provide further updates as appropriate.

Completion of the proposed transaction remains subject to, among other things, regulatory and shareholder approvals, TSX-V acceptance, completion of the private placement, completion of ancillary transaction documentation, and satisfaction of other customary closing conditions.

About Madoro Metals Corp.

Madoro Metals is an emerging resource company engaged in the evaluation, acquisition and exploration of mineral properties in Canada and Mexico. Madoro holds an option to acquire a 100-per-cent interest in the First Green lithium property located in the emerging Decelles lithium camp in the Abitibi-Temiscamingue region, approximately 75 kilometres southwest of Val d'Or, Que., and a 100-per-cent interest in the Cerro Minas property in Oaxaca, Mexico.

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