Vancouver, British Columbia–(Newsfile Corp. – July 10, 2026) – Medaro Mining Corp. (CSE: MEDA) (OTCID: MEDAF) (FSE: 1ZY) (“Medaro” or the “Company”), a mineral exploration company focused on the acquisition and advancement of high-quality mineral projects, announces that Mark Ireton has resigned from his role as Chief Executive Officer of the Company, but remains a director of the Company.
The Company is pleased to welcome Mark Carruthers, who has been appointed as President and Chief Executive Officer of the Company, effective immediately. Mr. Carruthers is a mining industry executive with nearly 20 years of experience in investor relations, corporate communications, and capital markets. He has held senior investor relations and corporate communications roles with several publicly listed resource companies, advising executive management teams and boards of directors on corporate strategy, capital markets, investor engagement, and continuous disclosure. Most recently, Mr. Carruthers served as Investor Relations Manager at First Majestic Silver Corp., where he was responsible for the Company’s global investor relations program for more than six years, supporting corporate communications, shareholder engagement, and capital markets initiatives.
As President and Chief Executive Officer, Mr. Carruthers will be responsible for leading the Company’s strategic direction, corporate development, capital markets initiatives, and overall execution of its business objectives.
“I am excited to join Medaro as President and Chief Executive Officer and to work alongside the Board and the Company’s talented technical team,” said Mark Carruthers, President and Chief Executive Officer of Medaro. “Medaro has built a diversified portfolio of precious and critical mineral projects across multiple jurisdictions, providing a strong foundation for the Company’s next phase. My focus will be on executing our strategy, advancing our key projects responsibly, maintaining disciplined capital allocation, and communicating openly and consistently with our shareholders. I look forward to building on the foundation already in place and creating long-term value for all stakeholders.”
In connection with Mr. Carruthers’ appointment, the Company granted Inside Capital Corp., a consulting company operated and controlled by Mr. Carruthers, an aggregate of 300,000 stock options (the “Options“) and an aggregate of 500,000 restricted share rights (the “RSRs“) in consideration of Mr. Carruthers’ services as President and Chief Executive Officer. The Options and RSRs will be issued pursuant to the terms and conditions set forth in his consulting agreement and the Company’s equity incentive plan.
The Options will vest as to 25% on the date of grant, with an additional 25% vesting on each of the dates that are six (6), twelve (12), and eighteen (18) months from the date of grant. Each Option is exercisable, for a period of two (2) years following the date of grant, to acquire one common share of the Company at a price of $0.21.
The RSRs will vest over a period of twenty-four (24) months in three equal tranches, with vesting occurring at eight-month intervals following the date of grant.
All securities issued in connection with the Option and RSR grants remain subject to approval by the Company’s board of directors and will be subject to a statutory hold period of four months and one day in accordance with applicable Canadian securities laws.
About Medaro Mining Corp.
Medaro is a mineral exploration company focused on the acquisition and advancement of high-quality mineral projects in Canada. The Company’s strategy is to build shareholder value through systematic exploration, disciplined project evaluation, and responsible development.
For more information, investors should review the Company’s public filings, which are available at www.sedarplus.ca.
On Behalf of the Company
Mark Carruthers
President & CEO, Medaro Mining Corp.
220 – 333 Terminal Avenue, Vancouver, BC V6A 4C1
Email: mark.carruthers@medaromining.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) has not reviewed, approved or disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.
