Madoro Metals Corp. Provides Update on Proposed Reverse Takeover with Narrow River Resources Pty Ltd.

VANCOUVER, British Columbia — June 3, 2026 — Leads & Copy — Madoro Metals Corp. is advancing its proposed reverse takeover of Narrow River Resources Pty Ltd. (NRR), according to a company update. The companies are working to meet requirements under TSX Venture Exchange (TSXV) Policy 5.2, which governs Changes of Business and Reverse Takeovers. This includes preparing necessary disclosure and transaction documents.

The parties have completed a technical report for the Lac Simard mineral project, prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Madoro intends to file this report on SEDAR+ concurrently with a management proxy circular (the Circular) once finalized. The Circular is being prepared for a special shareholder meeting required to approve the Proposed Transaction.

Madoro and NRR are also continuing to work towards finalizing and executing a definitive agreement. As previously announced, Madoro is proceeding with a concurrent non-brokered private placement to raise up to C$1,230,000. The completion of this Private Placement is contingent on TSXV acceptance and other required regulatory approvals. Both companies remain committed to the Proposed Transaction and will provide further updates as appropriate.

The completion of the Proposed Transaction is subject to several conditions, including the negotiation and execution of definitive documentation, regulatory and shareholder approvals, the successful completion of the Private Placement, and adherence to all applicable TSXV requirements. Details of the Proposed Transaction, initially outlined in a letter of intent signed on January 30, 2026, were previously disclosed in a news release dated February 2, 2026.

Madoro Metals Corp., an emerging resource company, is engaged in the evaluation, acquisition, and exploration of mineral properties in Canada and Mexico. The company's assets include an option to acquire a 100% interest in the First Green Lithium Property in Quebec, a 50% interest in the Ralleau mineral property in Quebec, and a 100% interest in the Cerro Minas Property in Oaxaca, Mexico.

Source: Madoro Metals Corp.