Madoro Metals Provides Update On Proposed Reverse Takeover With Narrow River Resources

About this update from Madoro Metals Corp

April 2, 2026 – TheNewswire - VANCOUVER, British Columbia – Madoro Metals Corp. (“Madoro” or the “Company”) (TSX VENTURE: MDM; OTC: MSTXF; FSE: A2QQ1X), is pleased to provide a brief update regarding the proposed reverse takeover (the “Proposed Transaction”) with Narrow River Resources Pty Ltd. (“NRR”) previously announced in the Company’s news release dated February 2, 2026. Madoro and NRR continue to advance the various components required under TSX Venture Exchange (“TSXV”) Policy 5.2 – Changes of Business and Reverse Takeovers. The parties are also pleased to announce the completion of a combined airborne magnetic survey over the Company’s First Green Lithium mineral project and NRR’s adjacent Lac Simard project, as previously announced in the Company’s news release dated January 20, 2026. In addition, the parties are in the process of finalizing the technical report in respect of the Lac Simard project in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Madoro and NRR continue to work toward negotiating and entering into a definitive agreement and satisfying other closing conditions, including the preparation of transaction documentation and assembly of required regulatory filings. 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 execution of definitive documentation, regulatory and shareholder approvals, and satisfaction of all applicable TSXV requirements. Details of the Proposed Transaction, as contemplated in the letter of intent signed by Madoro and NRR on January 30, 2026, may be found in the Company’s news release dated February 2, 2026. About Madoro Metals Corp. Madoro Metals Corp. (MDM - TSX Venture Exchange; MSTXF – OTC Markets; A2QQ1X - Frankfurt) 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% interest in the First Green Lithium Property located in the emerging Decelles lithium camp in the Abitibi Témiscamingue region, approximately 75 kilometres southwest of Val-d’Or, Québec; a 50% interest in the Ralleau mineral property in the Urban Barry District, Lebel-sur-Quévillon area of Quebec; and a 100% interest in the Cerro Minas Property in Oaxaca, Me...

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