Madoro Metals Corp. reported that it has amended the option agreement dated January 31, 2023 (the "Option Agreement"), whereby the Company was granted the option to acquire a 100% interest in the 213 claim, 12,325 hectare First Green Lithium Project (the "Property") located in the emerging Cadillac-Pontiac lithium camp in the Abitibi Temiscamingue region, approximately 75 kilometres southwest of Val-d'Or, Quebec (the "Property"). Under the terms of the amendment agreement (the "Amendment Agreement"), the parties have agreed to amend certain terms of the Option Agreement as follows: Half of the cash payment, being $18,000, due on January 31, 2024 is extended to July 31, 2024.

$150,000 of the exploration expenditures due on the Property by January 31, 2024, is extended to: $75,000 by January 31, 2025 and $75,000 by January 31, 2026. The $1,000,000 staged work expenditure is now as follows: $50,000 on or before January 31, 2024 (com completed); $375,000 on or before January 31, 2025; and $575,000 on or before January 31, 2026. In consideration of the Optionors agreeing to the amendments, the Company shall issue the Optionors 600,000 common shares of the Company.

The Amendment Agreement remains subject to the approval of the TSX Venture Exchange. All shares issued pursuant to the Amendment Agreement shall be subject to a statutory hold period of four months and one day from issuance. As reported by the Company in the news release dated September 26, 2023, the initial prospecting and sampling program on its 213-claim, 12,325-ha First Green Lithium property (the "Property") has resulted in the discovery of a potential swarm of lithium-bearing pegmatite dykes.

A dyke swarm was discovered on the last day of the fall exploration work program in an area of dense moss and tree cover, so only five (5) grab samples were collected over a 1,500m by 250m area in the central part of the Property. Further surface work is required to better expose bedrock in this area. Geochemical analysis of the five grab samples showed elevated levels of lithium, as well as rubidium, cesium, beryllium and tantalum - all good pathfinder elements.

The Property is located within an emerging lithium belt where large mineral claim holdings have been assembled by Brunswick Exploration Inc., Narrow River Resources Pty. Ltd., Sayona Québec Inc., Renforth Resources Inc., Vison Lithium Inc. and Winsome Resources Inc. Madoro's First Green Property lies west and north of the Tansim project held by Sayona Mining. Companies already exploring for lithium-cesium-tantalum ("LCT") pegmatites in the Cadillac-Pontiac camp include Sayona Mining, Vision Lithium, Brunswick Exploration, Winsome Resources and High Tide Resources.