Madoro Metals Corp. Provides Update ON Proposed Reverse Takeover with Narrow River Resources
TSXV: MDM | OTC: MSTXF
WKN: A2QQ1X
Suite 1450 – 789 West Pender Street, Vancouver, BC, Canada V6C 1H2
Tel.: (604) 681-1568, Fax: (604) 681-8240, TF: 1-877-377-6222
MADORO METALS CORP. PROVIDES UPDATE ON PROPOSED REVERSE
TAKEOVER WITH NARROW RIVER RESOURCES
FOR RELEASE: April 2, 2026
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 forwa rd 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
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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 sou thwest 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, Mexico.
For further information, investors and shareholde rs are invited to visit the Company’s website at
www.madorometals.com, call the office at 1-604-681-1568, toll free at 1-877-377- 6222, or send
an email to [email protected].
ON BEHALF OF THE BOARD OF DIRECTORS
“DUSAN BERKA”
Dusan Berka, P. Eng., President & CEO, Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to,
Exchange acceptance and if applicable pursuant to Exchange Requirements, disinterested shareholder
approval. Where applicable, the Proposed Transaction cannot close until the required shareholder
approval is obtained. There can be no assurance that the Proposed Transaction will be completed as
proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement
to be prepared in connection with the Proposed Transaction, any information released or received with
respect to the Proposed Transaction may not b e accurate or complete and should not be relied upon.
Trading in the securities of Madoro should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction and has
neither approved nor disapproved the contents of this press release.
Forward Looking Information
This press release contains “forward -looking information” within the meaning of applicable Canadian
securities legislation. Generally, forward -looking information can be identified by the use of forward -
looking terminology such as “plans”, “expects” or “d oes not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”,
or variations (including negative and grammatical variations) of such words and phrases or state that
certain acts, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”.
Forward-looking information in this press release may include, without limitation, statements regarding
the advancement of the Proposed Transaction, the execution of definitive documentation, and the receipt
of regulatory and shareholder approvals. These statements are based upon assumptions that are subject to
significant risks and uncertainties, including risks regarding the mining industry, commodity prices, market
conditions, general economic factors, the ability of the parties to successfully complete the Proposed
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Transaction and satisfy regulatory requirements , management’s ability to manage and to operate the
business, and the equity markets generally. Because of these risks and uncertainties, the actual results,
expectations, achievements or performance of each of Madoro and NRR may differ materially from those
anticipated and indicated by forward-looking information.
Although each of Madoro and NRR believes that the expectations reflected in forward-looking information
are reasonable, they can give no assurances that the expectations of any forward-looking information will
prove to be correct. Except as required by law, each of Madoro and NRR disclaims any intention and
assumes no obligation to update or revise any forward-looking information to reflect actual results, whether
as a result of new information, future events, changes in assumptions, changes in factors affe cting such
forward-looking information or otherwise, except as expressly required by applicable securities laws.